Quote:
Originally Posted by Karl Bebout
I do not have an HOA to contend with, although in some instances, sometimes I wish I did. I get perturbed with the way some neighbors have maintained their property, since it detracts from the entire neighborhood and lowers everyone's property value. That being said, I am glad I don't have any monthly fees to pay and nobody to tell me "how white my shorts should be". I just want my cake and to eat it too.
BTW, I have not bought very many homes, in my lifetime, but on every one of them, I was informed of any CC&Rs and of any HOA stipulations, before I entered into the contract to purchase. Is this not required by law? I guess that if the rules and regulations were not to my liking, I would not have agreed to the contract. Justa a thought or three.
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I'm a part time broker in Colorado. Our listing contracts require disclosure of the existence of the HOA and the fees, and that info is present in the MLS listing and appears in the online flavor as well. Our purchase contract requires the broker to record the HOA fees, and one of the deadline dates is a copy of all HOA documents (CCRs, bylaws, any assessments etc.) The title company usually handles getting the HOA paperwork from the association although resident brokers in subdivision offices will have it readily available.
I would guess that most states require this disclosure.