The Insiders discuss the Good & the Bad of HOAs, including all of the important documentation you need to review when placing an offer on a property that is affiliated with a Home Owners Association.
Episode 27: Home Owners Associations
The Insiders discuss the Good & the Bad of HOAs, including all of the important documentation you need to review when placing an offer on a property that is affiliated with a Home Owners Association.
Highlights:
- In general they are developed to enforce restrictions in a community, whether it be a condominium complex or residential area.
- There are going to be rules and regulations, so if you are going to be buying one, make sure the read through it, so you can abide by them, and to be sure you are okay with the restrictions.
- Check out what benefits and amenities are included in the Home Owners Association.
- When you are looking at the fees, make sure to really delve into it. When you are comparing fees between properties, make sure you are talking apples to apples, and that things are equally valued.
- Ask your Realtor for and get all of the documentation that we listed.
You want to know that you are buying into a Association that is healthy and managed well, and that has the owners best interest in hand.
Download: Sample House Rules Sample Bylaws Sample Regulations
