Approximately 25% of us that purchase residential real estate will have an HOA that manages the development or community. HOAs have unique guidelines and restrictions that can provide home buyers operational, legal and financial issues that we should consider before purchasing our next home. It is our responsibility as a buyer to perform the proper due diligence to understand all of the covenants, conditions and restrictions that are governed by the HOA!
The HOAs can control items from color and height of fences, types of plants allowed or not allowed, parking in front of homes, and yes even certain types of pets or breeds of pets allowed. Some HOAs will not allow you to purchase a property as rental property or operate a business out of a home.
If you plan to do some type of home improvement to your new home, most HOAs will require that you submit a Home Modification Request Form for them to review and approve. I have heard of several instances where homeowners performed the home improvements without HOA approval and actually had to remove the improvements because they were not HOA approved.
The HOA even has the ability and legal right to place a lien on your property if you are delinquent in payment of your HOA dues.
HOAs can be a huge benefit to real estate ownership, but as you can see they are very complicated as well as powerful entities. That is why it is so important that you read, analyze and understand the HOA for your home before you close. Source: Zillow and Leonard Baron
JP And Associates REALTORS (JPAR) is one of the top 100 independently owned brokerages in the US. A full service real estate brokerage firm specializing in real estate sales and marketing services with multiple offices across the US and expanding quickly. JPAR is also one of Real Trends top 500 Brokerages in the US for volume and sales and in the top 1% in the US for sales.
Our mission is to provide extraordinary services and exceed our clients’ expectations by always committing to the highest levels of professionalism, ethics and standards in the real estate industry.
JP and Associates REALTORS is a real estate company with a solid structure and foundation built around service and productivity. We believe in providing a fun and rewarding environment for all our REALTORS® and therefore always ready to support our REALTORs® Associates in any market and in any condition. All our REALTORs® will always strive to close more transactions in a given year than the average REALTOR®. Our goal is to recruit and retain the most professional, better trained REALTORs Associates in the local market.
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