What Realtors Need To Know About HOAs

"No one told me I'd have to pay assessments......"
"My realtor said I could have three great danes in my one bedroom condo......"
"My realtor said I didn't have to read those documents......."
"The title company insured that I could have a satellite antenna dish....."

Sales of homes in a common interest community, where the buyer will be obligated to pay assessments to a community or homeowners association, can appear to be simple residential sales.  These sales often go under contract and then close without the buyer knowing what they have agreed to in the covenants and other governing legal documents for the community. Successful realtors have found that educating buyers on all or most of the relevant aspects of the community results in a higher level of satisfaction by the buyer and fewer problems with the community or homeowners association.

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