If your buying a Condo, you need to know the rules ! In Condominium lingo, that means know what the CC &Rs (Conditions, Covenants and Restrictions) expect of you and your family.
The CC &Rs are the rule book that points out how we are obliged to live in our home, and how we can expect our neighbors and guests to behave.
The concept is best explained in the official site of the National Association of Realtors in their article titled "What about the CC&Rs ?" As follows. http://www.realtor.com/Basics/Condos/ShouldKnow.asp
What are CC&Rs? The covenants, conditions and restrictions (CC&Rs) are the governing documents that dictate how the homeowners association operates and what rules the owners -- and their tenants and guests -- must obey. These legal documents might also be called the bylaws, the master deed, the houses rules or another name. These documents and rules are legally enforceable by the homeowners association, unless a specific provision conflicts with federal, state or local laws.
Lately, I have seen quite a few home buyers and their agents that did not read, did not understand, or were not aware of possibly the most important part of the sale. These home buyers and their agents showed up at closing not understanding what they had purchased or what they had sold their client. NEITHER ONE HAD READ THE CC&Rs....What could that mean? Can you imagine what it could mean to you?
It could mean that if you had 2 dogs and the limit according to the master deed, allowed one dog per unit, you would have to get rid of one of your animals.
If the problem is that the CC &Rs limit the size of each pet to 40 pounds and your family Labrador weighs 95 Lbs, a diet is not the answer.
Condominium documents that govern the actions of ALL owners and tenants in a particular project can restrict the number of cars you park on the premises, the length of time guests may live with you, the number of people occupying a unit, as well as restrict how late and how loud you can play your radio outside. Can you imagine?
It sounds horrible I know, but it's not. Think about it.
These are the rules that have been adopted by the majority of home owners, because it's how they want to live. It's how they want to maintain their investment, and how they want to relate to their neighbors.
It's a good thing.
Just be positive that the way the folks that live in a particular condominium community want to live is not in conflict with the way you do.
If it is, DONT BUY THERE !!! Move on.....Look for another home! ... One thats right for your family
You need a Real Estate Agent that understands condominium living, the importance of by-laws and budgets and the amenities that can make your life better.
If you dont have a Realtor, were very active in West Jordan, Murray, Sandy, and Taylorsville Condominiums. Ask us about the Village II Condos in Taylorsville, or Vista Montana in West Jordan.
To see all the condos available in the Salt Lake Valley, visit our web-site @ Salt Lake Homes For Sale. You'll see all the condos and homes for sale in SLC; pictures, prices, addresses, and home buying information. It's FREE and no registration is required.
Good luck in your search, and If your buying a Condo, know the rules !!!
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