Buying a home in a Homeowners’ Association (HOA) means you need to review the HOA documents and understand what information is in those documents.
Unless the Seller provided all the HOA documents, we will request the HOA documents as part of your offer. We will ask that those documents be provided within a specific timeframe and you will have a specific timeframe to review those documents. Documents requested will include the Master Deed and Bylaws, Covenants and Restrictions, copy of the most recent annual budge and financial statements of the HOA, copy of the minutes from the two most recent annual HOA meetings and a copy of the declaration page of the master insurance policy of the HOA (if purchasing a cond).
You will want to review these documents, especially the rules and regulations, to make sure you understand the rules of the HOA and are comfortable abiding by those rules.
During this time, you may also want to call the HOA management company to verify the fee and what amenities that fee covers.
