State and local governments, over time, have enacted numerous laws governing this community format. Furthermore, in many states, when a townhome sale is in prgress, the law requires that the seller give the most updated version of the Declaration of Covenants and Deed Restrictions (condo docs) upon receipt of a sales agreement and with a stipulation of a 5 day right of recision in which a buyer may review in order to decide whether or not they are able and/or willing to comply. In Georgia there is no such laws and subequently, townhomes/condos are frequently resold without buyers even being aware of any Covenants and Deed Restrictions, excepting that there is generally an HOA fee attached to their home on a monthly, quarterly or annual basis. This unfortunate potential circumstance is just the tip of the iceberg and just one of many ways of undermining the future capabilities of the HOA and all the member towhnome owners.
This is one of a series of posts regarding Townhome community Governance from State, local and Homeowner Associations and how they need to be better understood in the resale and buying process.
(to be continued)
courtesy of
Donald J Lantier Realty
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