Before TRELORA lists a home on the market, we require all sellers who are part of an HOA to provide us with HOA documents.
These are required before going on the active market for two reasons:
1. The documents are a required part of the legal transaction.
2. The risk of going under contract with a buyer who has not reviewed these documents in advance is incrementally higher, and we don’t want to put you through the stress of having deals fall apart.
When a potential buyer is considering making an offer on your home, it is helpful for that buyer to see exactly what will be required of them should they move into your community. Many buyers will want to know how much they have to pay in membership dues, exactly where that money is going, and what benefits they will receive as a resident of your community. They will also want to know about pet restrictions, exterior maintenance, design guidelines, and potential restrictions that may require a change in habits or lifestyle plans. The budget and financials of the HOA, along with the rules and other documentation, can answer these important questions.
HERE IS A LIST OF REQUIRED HOA DOCUMENTS:
• The last 6 months of HOA meeting minutes
• The last 6 months of financials
• The most recent annual budget
• Rules and Regulations (or Bylaws, if applicable)
• Covenants, Conditions and Restrictions (CC&R)
Homeowners' Associations often charge real estate agents a hefty fee for requesting a copy of HOA documents, if they agree to furnish a copy at all. Obtaining these documents may take you some time on the front end, but it will create ease throughout the rest of the transaction and save you both time and money…which is what TRELORA is all about.
To get a copy of your HOA documents, login to your HOA's site or simply call their main office and request the five items listed above.
If you have any additional questions about the importance of HOA documents or aren't sure how to get in touch with your HOA, please call TRELORA at 303-886-3000.