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HOA GROUPS OR HOW COMMON SENSE DISAPPEARS SOMETIMES

By
Real Estate Broker/Owner with Atlanta Homes ODAT Realty - Love our Great City - Love our Clients! Buckhead - Midtown - Westside

HOA GROUPS OR
HOW COMMON SENSE DISAPPEARS SOMETIMES

Want to own your own home or condo?
Want freedom to choose outside house colors?
Want to choose your window treatments yourself?
Want to decide what you do on your own property?

MAKE SURE YOU READ THE COVENANTS
BEFORE YOU BUY!

stack of printed pagesIn a lot of ways, I really approve of community covenants. The covenants assist in maintaining home price values. The covenants assure you will have a similar looking community year after year - after all - that’s what attracted you, isn’t it?


You want your community to look good, maintain its value and to be safe. Theoretically, those are the goals of good covenants.

MAKE SURE YOU READ THE COVENANTS
BEFORE YOU BUY!

Folder with papers insideDon’t buy in a community planning to ignore the covenants. Who knows if the folks on the governing board will be rigid about enforcing the rules. The builder runs the board and gives guidance about the covenants until a certain number of units are sold, whether condos or in a sub-division. Then the community selects a board to “govern” the community.


MAKE SURE YOU READ THE COVENANTS
BEFORE YOU BUY!

Gee whizz ... she said the same thing three times already! Maybe it really is important.

Have a happy day -
Lynn


George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Lynn that is very wise advice.

Nov 25, 2012 08:22 AM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

In Maryland, the buyer has 5 days to withdraw without any penalty after receiving the HOA Docs. As Lynn says : "Read them".

Would love to hear the follow up on the pink play house.

Margaret

Nov 25, 2012 10:45 AM
Richard Weisser
Richard Weisser Realty - Newnan, GA
Richard Weisser Retired Real Estate Professional

Lynn...

]Some HOA's are handed over to contractors that can really throw common sense out the door!

Nov 25, 2012 11:26 AM
Jordon Wheeler
The Jordon Wheeler Group - Fairburn, GA
J W Group Real Estate Sales and Service

Hi Lynn,

Excellent advice!  Buyers really need to know what is going on with the HOA in their subdivision or condo development.  Talk to you soon !

Nov 25, 2012 07:09 PM
Michelle Francis
Tim Francis Realty LLC - Atlanta, GA
Realtor, Buckhead Atlanta Homes for Sale & Lease

Lynn, 

We've actually pulled P&S offers that hadn't been approved by seller's yet, as when we received the HOA docs the Buyers had big issues with them. 

The one very specific I believe all folks should be very aware of no matter what they buy is the HOA's rules on leasing.  Are you allowed to rent your place?  Is there a limit?  This can have a major impact if you need to sell and can't or are way upside down in numbers. 

Great post!

All the best, Michelle

Nov 26, 2012 09:57 PM
Lynn B. Friedman CRS Atlanta, GA 404-617-6375
Atlanta Homes ODAT Realty - Love our Great City - Love our Clients! Buckhead - Midtown - Westside - Atlanta, GA
Concierge Service for Our Atlanta Sellers & Buyers

Dear George -

Thanks for stopping by! Saw hello to the Nutmeg state for me - where I was born!

Have a happy day -
Lynn 

Nov 26, 2012 11:50 PM
Lynn B. Friedman CRS Atlanta, GA 404-617-6375
Atlanta Homes ODAT Realty - Love our Great City - Love our Clients! Buckhead - Midtown - Westside - Atlanta, GA
Concierge Service for Our Atlanta Sellers & Buyers

Dear Margaret -
That  is true consumer protection, isn't it?
Have a happy day -
Lynn 

Nov 26, 2012 11:51 PM
Lynn B. Friedman CRS Atlanta, GA 404-617-6375
Atlanta Homes ODAT Realty - Love our Great City - Love our Clients! Buckhead - Midtown - Westside - Atlanta, GA
Concierge Service for Our Atlanta Sellers & Buyers

Dear Richard,

You are so correct about the property management contractors.
We wait and wait and wait for them to return our calls. 
Real estate requires lots of patience, doesn't it?

Have a happy day -
Lynn
 

Nov 27, 2012 12:09 AM
Lynn B. Friedman CRS Atlanta, GA 404-617-6375
Atlanta Homes ODAT Realty - Love our Great City - Love our Clients! Buckhead - Midtown - Westside - Atlanta, GA
Concierge Service for Our Atlanta Sellers & Buyers

Dear Jordon,

Knowing what you are getting is so important - especially when it is such a HUGE purchase.

Have a happy day -
Lynn 

Nov 27, 2012 12:24 AM
Lynn B. Friedman CRS Atlanta, GA 404-617-6375
Atlanta Homes ODAT Realty - Love our Great City - Love our Clients! Buckhead - Midtown - Westside - Atlanta, GA
Concierge Service for Our Atlanta Sellers & Buyers

Dear Michelle,

Your comment is so true.
"The one very specific I believe all folks should be very aware of no matter what they buy is the HOA's rules on leasing. " 

Lease out or not is the FIRST thing that we ask. The second question is if it can be leased, how long is the wait for a leasing permit?  In some cases, we've found two years or five years wait!

Have a happy day -
Lynn

Nov 27, 2012 12:34 AM