• Grant Dean

HOA - Love them or Not

HOA - The Love Hate Relationship. Many times a buyer will ask if certain home or area has an HOA? If I get that question early on it usually means they have had a negative experience with one in the past. Home Owners Associations help maintain the condition and appearance of a neighborhood through collecting dues from each owner and enforcing their rules and regulations. I personally think of them like a double edged sword - most times they help keep a neighborhood looking good (helping maintain property values) by keeping the common grounds or community amenities, like a pool or playground maintained, repaired and in working order. They also have been known to be picky and get onto home owners for leaving trash cans out or having weeds or dead grass in the yard for example. If a client does not want to be in an HOA it will limit what's available to buy and many times increase the age of the home significantly. Per TAR 1922 addendum, in Texas, the buyer has the right to review the rules of an HOA and within 3 days after receipt they may terminate the contract if they cannot agree to abide by them all. #HOA #TAR1922