Getting Copies of the Governing Documents, and Meeting Minutes: Part 1.
Become familiar with the terms and conditions you must or will have to abide by as the owner of property in a development (townhomes/condominiums/subdivisions etc), you should request copies of all its governing documents, including:
• articles of incorporation
• Declaration of Covenants, Conditions & Restrictions ((“CC&R’s), sometimes called the “Declaration”
• rules and regulations
• a statement of the current periodic assessment (or homeowner’s dues) amount
• copies of the Association’s meeting minutes from the past year or two.
You should be able to get these documents either from your real estate agent (if you have one), by contacting the Association directly, HOA Management Company, or from the title company handling the purchase and sale transaction.
Reading and understanding these documents will help you to better understand what will be required of you as a home owner, and what is required of the HOA/governing body.
Daily Real Estate News | Thursday, June 23, 2016
Eighteen percent of U.S. housing markets were less affordable than normal in the second quarter of 2016. That's down slightly from affordability levels a year ago, when 20 percent of markets exceeded their normal affordability levels according to[...]