“I WON’T read the docs!”
“You MUST read the docs!”
“I WON’T read the docs!”
“You MUST read the docs!”
“I’ll save you, Nell.”
While I always encourage my clients to consult with an attorney when they are buying property, this is one thing I wouldn’t leave to anyone else.
YOU MUST READ THE HOMEOWNER ASSOCIATION DOCUMENTS!
Your attorney doesn’t know if:
- You sing opera in the shower at 2 am
- You take in your sister’s pit bull for 2 weeks every year when she is on vacation
- You plan to bring clients into your home
- You plan to rent out the basement
Rules and regulations, Declarations, Covenants and By-Laws vary from community to community. These are the governing documents for the entity.
Just as municipal, state and federal laws define what are acceptable and punishable behaviors, so do community docments. These documents help preserve the peace and safety of the members of the community, as well as the property values.
As a buyer, you will also be provided copies of financial documents and copies of the minutes of recent homeowner meetings before closing.
PLEASE review all materials CAREFULLY.
And PLEASE check the zoning laws, as well.
I have heard numerous sad stories over the years of folks who didn’t bother to read the condo or neighborhood rules–stories of buyers having to give away their beloved pets, for example, and stories of folks thinking it wouldn’t be a problem for them to bring clients to their home for massage or psychotherapy. Many condos and neighborhoods do not permit businesses to operate out of the homes. Many have pet restrictions.
If you are among the folks who don’t like restrictions, do not buy into a condominium or neighborhood with rules. It will only make you and your neighbors unhappy.
debpallai@comcast.net
In 2010, The Colorado State Legislature established the HOA Information and Resource Center to help assist, protect and inform members of homeowner associations, HOA boards and other interested parties.
No Home Too BIG or small 