My Take on the Market
The market is starting to pick up after the slow down we typically have with the start of the school year. Showing activity has picked up on my listings and several have went under contract recently.
Private roads are becoming an issue getting loans approved. More and more lenders require that there be a recorded road maintenance agreement that spells out who is responsible for keeping up the road. Basically all the property owners along the road need to agree to pay their share of the road upkeep, or there needs to be an HOA that collects a fee for the upkeep of the road. If you live on a private road I encourage you to check and make sure there is a road maintenance agreement in place, or an HOA formed that is collecting fees to keep up the road. The HOA can exist just for the purpose of maintaining the road, it does not have to run around telling everybody what they can't do on their own property. If you don't have the provisions in place to keep up the roads, I strongly encourage you to start talking with your neighbors, come up with an agreement, and have a local real estate attorney draw one up for you. The fee would not be much for that.
Everybody that owns property on the road needs to sign the document and the attorney needs to have it recorded. It will be much better to get this taken care of now rather than have somebody lose a sale because there are no recorded provisions to maintain the road.
Feel free to email me if you have any questions.
Everybody that owns property on the road needs to sign the document and the attorney needs to have it recorded. It will be much better to get this taken care of now rather than have somebody lose a sale because there are no recorded provisions to maintain the road.
Feel free to email me if you have any questions.
~Alan
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