HOA Rules - The Importance of Knowing them Before Buying a House- By: Flynna Jones
Have you seen communities wherein they have nice landscapes? Do you ever wonder why some subdivisions are more peaceful compared to others? Are you aware that the other neighborhoods have nice facilities such as clubhouses, swimming pools and other recreational facilities? Some residents live in a peaceful setting simply because of their Homeowners Association.
Most homeowner’s association is a non-profit group that is handled by different people, which are the residents, to keep the place peace and quite. In fact, these groups have two categories.
To enforce their covenant, conditions and restrictions so they can assist their members, balance off their activities and make evaluations to the house. Apart from that, they also collect charges and membership fees that will be used in keeping the community at its best shape.
Now that you are already briefed about the place, read the remaining paragraphs below.
These, as well as the laws, are imposed by the HOA to manage the place. CC&R differs from one place to another. Even if they are there to protect the interest of every homeowner, some of them are still questionable.
Every resident you must be in accordance to his CC&R. Because of their existence, you can not easily paint your house with the color that you want. It should be asked to the higher management and consult them about.
Hence, before making the final decision on your house, you need to be familiar with the CC&R. Of course who would want these rules become the hindrance to your living condition. If you think the community is too stern, then drop it and look for another one.
There are certain fees that should be settled too. The money that is gathered periodically will be used or the up-keeping roads, street lamps, bodies of waters and more. It may also be used to improve their clubhouse and play area.
A lot of homeowners associations are too strict with their payment schedule. If you miss to do that, they can impose liens on your property. You can be ousted and your house can be disposed to settle your outstanding balance.
Homeowners are there to keep you away from fraudulent transactions and protect your interest. However, there are also other good neighbors that are naturally good. Thus, you really have to make the final decision whether you will buy a bag or not.
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