Home > Blogs > Thesa Chambers > Central Oregon Real Estate Information

Does Your REALTOR® Know The CC&R's For Your Area?

By Thesa Chambers

Real Estate Agent with West + Main

August 26, 2007 05:01 PM

Buyers and Sellers of Sunriver Properties need to be aware of the CC&R's (Covenants, Conditions and Restrictions) of the area of which a property is located. Sunriver has a set of CC&Rs and each of the condominium complexes has their own rules in addition to the ones set by Sunriver.

Hawk In Sunriver When a buyer uses a REALTOR® that is not familiar with what the CC&Rs are or what the Home Owners Association covers they put themselves at risk of buying something that will not allow for changes or uses that the buyer intended. Sunriver has a set of rules that help keep Sunriver what it is today. These rules range from the colors a home can be painted to the use of fencing. Sunriver is a resort community; however there are many full time residents in Sunriver. You can easily access most of these rules by visiting the website created for Sunriver Owners.

Many resort areas through out the United States have strict rules and regulations, Joanne Hanson, of Summit County Real Estate in Colorado has highlighted a few of the rules that affect buyers in her area. Joanne also represents many resort properties and is an expert in her field.

In addition to the Sunriver HOA fee each condominium complex has a HOA fee of its own. These vary from condo complex to complex. Just as the fees vary so do the amenities of the complex and what the fees cover.

Each of the condo associations has a manager. It is always best to check with the association to be sure you have the latest version of the CC&Rs of the complex. Another item that is beneficial when purchasing a condo is a copy of the minutes from the board meetings over the last year. This can often times alert you to possible changes being considered to the complex and to the fees you will be paying. There are times when an association will have a special assessment to cover additional costs not in the complex budget such as new roofing or decks.

To Read More About Sunriver CC&R's including Condo Associations and their additional rules click on the arrow at the bottom of this page.

________________________________________________________________________________________________________
Thesa Chambers • Broker • RE/MAX Sunset Realty
541-771-7064 Cell • 541-536-0117 Office • 888-868-2050 Toll Free
Mailing Address • PO Box 3510, La Pine, OR 97739

Comments(16)

Comment

Show All Comments

Sort:

Patricia Kennedy

RLAH@properties - Washington, DC

Home in the Capital

Good point. But even more important than knowing what the restrictions are, is knowing to put a contingency in the contract (if there isn't already one in your boiler-plate) that requires the sellers to provide the buyers with copies of all covenants, rules, regulations and HOA budget information with a review period. That insures that the buyers will have the opportunity to familiarize themselves with whatever community they may be considering that is governed by an association.

Aug 26, 2007 05:08 PM

Joanne Hanson

Coldwell Banker Colorado Rockies Real Estate - Frisco, CO

Summit County, Colorado Realtor

Thanks for the link Thesa! I like your hawk circling....if Buyers aren't aware of the rules and regs it could be a vulture! This comment takes me to 40,000 points today....thanks for the opportuntity.

Aug 26, 2007 05:16 PM

Karen Rice Keller Williams Real Est

Keller Williams Real Estate - Hawley, PA

Northeast PA & Lake Wallenpaupack Home Sales

This is something a lot of buyers don't take into consideration when beginning to purchase a home. Along with the covenants, there may be extra fees for amenities not covered by homeowner dues, such as water fees, boat dock fees, golf course fees, etc. They may assume (along with a naive real estate agent) that everything is included.

One thing I always try to prepare people for is the Capital Improvement Fee. Some associations charge last year's dues, some charge this year's dues, or some other number they came up with, as an extra, one time fee for new buyers - this goes into an account that the association uses to improve the community - such as toward the installation a new amenity. This can cost the buyer an addtional $500, $750, or even $1500 in extra closing costs.

bTW, here we have ACT 180, which requires that a copy of the association rules and regs be provided to the buyer before closing, giving him/her an "out" before the deal is done...if they don't think they can comply with the rules they have the option of ending the contract. However, this should only be a formality. A smart realtor will provide his/her buyers with all the info they need FIRST before it gets that far, and save everyone time and aggravation!

Aug 26, 2007 05:18 PM

Lynda Eisenmann

Preferred Home Brokers - Brea, CA

Broker Associate ,CRS,GRI,SRES, Brea,CA, Orange Co

Thesa,

Good information here and you're right. In CA the buyers actually have 5 days after receipt (it's the law) to approve/disapprove hoa documents. Other than the obvious rules, regs, financials, the buyer also received 12 months of minutes for the hoa.

Aug 26, 2007 05:42 PM

Randy L. Prothero

eXp Realty - Hollister, MO

Missouri REALTOR, (808) 384-5645

Part of our purchase contracts in Hawaii is the ordering of the condo association, the community association and planned community documents.

Aug 26, 2007 06:29 PM

Missy Caulk

Missy Caulk TEAM - Ann Arbor, MI

Savvy Realtor - Ann Arbor Real Estate

Thesa, our in similiar in Michigan but it is up to the Realtor and Buyer to determine the time line for reading them. When our sellers sell, we ask them to leave a copy for the buyers.

Aug 26, 2007 11:17 PM

Susie Roscoe

Signature Realty Associates - Brandon, FL

Real Estate Specialist | Brandon, FL

This really could make all the difference in the world Thesa!! Great points here...we could all do a bit more homework for our buyers!

Aug 27, 2007 12:58 AM

Rita Taylor

None - Sanford, NC

Sanford NC Real Estate - Homes for Sale in Sanford North Carolina

As you point out, it is very important to learn about the restrictive covenants before you buy a home. We have a couple of communities in our area with rules very similar to the ones you have in Sunriver and I too have heard of people who bought homes without being informed who were then very unhappy. Using a knowledgeable local real estate agent can really save you a lot of headaches in the long run.

Aug 27, 2007 01:12 PM

Cyndee Haydon

Charles Rutenberg Realty - Clearwater, FL

727-710-8035 Clearwater, Beach Short Sales Luxury Condos &Homes

Thesa - you've done a great job of pointing out potential pitfalls - ignorance is no excuse for people buying in homes with rules.

Aug 27, 2007 02:01 PM

Stephanie Edwards-Musa

thredUP.com - The Woodlands, TX

knitwit at thred UP

Thesa, Wow! Great job! All agents might not know about CC&R's but I know YOU do, my Sunriver Expert!!

Aug 27, 2007 02:31 PM

Paula Henry

Home to Indy Team @ HomeSmart Realty Group - Avon, IN

Realtor - Indianapolis Real Estate - 317-605-4174

Thesa - I just wrote a similar post, "The HOA Will Have It's Way" and after you have bouth the home is no time to find out. Buyers need to be aware of all restrictions and costs. Great info!

Aug 27, 2007 04:07 PM

Jack Haydon

Charles Rutenberg Realty - Clearwater Beach, FL

Clearwater Beach Condos - Real Estate Homes for Sale

This is great stuff for home buyers in the Central Oregon area - Thesa you did a great job raising points every home or vacation home buyer should consider.

Aug 27, 2007 05:14 PM

Daniel Seider

BTRE Big Trees Real Estate - Arnold, CA

Your points on CC&Rs are good, but this also pionts to the fact of the benefit of a local agents knowledge and how it can help their clients. Good information!

Aug 28, 2007 03:05 AM

Mana Tulberg

805 County Real Estate - Camarillo, CA

Real Estate Agent - Camarillo CA

Thesa, You have once again pointed out some good information for homebuyers in Sunriver, OR and this time for homebuyers of communities with homeowner associations.

Aug 28, 2007 02:30 PM

Rolo Cuadrado

Colorado Mountain College - Frisco, CO

Very important stuff. Never to be overlooked. Thanks for the good example.

Aug 29, 2007 05:25 AM

Does Your REALTOR® Know The CC&R's For Your Area?

Comments(16)

Thesa Chambers

Recent Posts

Additional Information