Homeowner's Associations are nothing new, but if they are new to you read on! What is an HOA? An organization of homeowners in a particular neighborhood or development formed to facilitate the maintenance of common areas and to enforce any building restrictions or covenants. These conditions, covenants and restrictions (CC&R's) are attached to the master deed and run with the property. They automatically apply to all property owners. It is important that the Homeowner's Association is actively managed and that it operates within the By-laws, Conditions, Covenants and Restrictions. There are many questions you should ask prior to purchasing a home, here are a few: Who manages the HOA and how long they have been managing this HOA? How much are the dues and when are they payable? What is ...
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