Whether your home buying or home selling in a homeowner association, it's import to understand the process and how that may vary depending on the laws of your state.
As a buyer of a home, townhome or condo in a planned unit development, i.e. a homeowner association it's important you know and understand your obligations and responsibilities when it comes to the association.
If you're the home seller (and again it depends on the laws/requirements of your state and your contract) you normally provide you buyer with:
- CC&R'S, the Recorded Covenants, Conditions & Restrictions
- Association Bylaws & Articles of Incorporation
- Rules & Regulations of the Association
- Association Financials
- Minutes of the Association Meetings
Check out this association home buying and selling video:
As a home buyer you want to review the association financials including the reserves. Also view (if available) the minutes of the monthly meetings. That could give you an overview of what has taken place within the association possibly impacting the value.
If you're a home seller now or in the near future, check out and bookmark HomeSelling101.com, it's a great place for home selling help and tips including more videos!
If you're looking to buy or sell a Southern CA home contact me, Lynda@PreferredHomeBrokers.com. Or text or direct at (714) 595-1494. You can also call and speak with any of the Preferred REALTORS at (714) 990-6060. At Preferred Home Brokers, we've been serving home buyers and sellers now for decades with traditional values and today's technology. We'd love the opportunity to earn your business!
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