Owners Association Rules…Hot topic that buyers should evaluate.

SCR recommends possibly always attaching SCR391 to the SCR310. SCR391 makes sellers and by extension – their legal counsel responsible for providing the hoa docs within a time frame, see first checkbox paragraph on SCR391.

SCR310 residential contract, the buyer acknowledges having the opportunity to obtain legal counsel and review hoa docs. Can evaluate pre contract.

SCR recommends always using the seller disclosure. SCR230 has many hoa type questions for the seller to answer.

Buyer reps could probably remind the buyers that per the contract SCR310, the buyer needs to obtain legal counsel and review everything. Buyers need to decide if the hoa requirements suit their needs/desires.

SCR recommends possibly using DUE DILIGENCE so the buyer could timely/properly terminate if the hoa requirements do not suit the buyer, or review the hoa requirements pre-contract to avoid hoa issues.

Buyer lives in the hoa community and is ultimately responsible and is the only person on earth that can fully determine if the hoa requirements meet the buyer’s needs.

Lawyers are best trained/licensed to research and obtain the most accurate hoa documents.

Sellers are best positioned to know hoa issues and upcoming hoa issues.

Accountants and private investigators could review hoa financial issues and the area too.

Buyers can ask additional questions on the hoa to the sellers for answers.

Buyers can ask the hoa question for answers too.

Some types of disputes: hoa rules for design, hoa rules for yard, hoa rules for fencing, hoa rules for changes to property, hoa rules on storing boats/rv, hoa rules on trampolines, hoa rules on parking, hoa rules on landscaping, hoa fees, hoa lawsuits, common area issues/lawsuits/problems, hoa management, hoa management aggression, hoa rules for signs, hoa financial problems, hoa management issues, siding issues on common areas, roofing issues on common areas, hoa management/upkeep of common area pools, tennis, paths, parking, storage, access, hoa rules for visitors, neighbor issues, disputes, lawsuits, criminal actions, etc.

Posted by: Byron King on 1/12/21 (This information is only accurate as of 1/12/21. You must contact SCR for updates and changes to this information after 1/12/21 as laws and regulations may change over time. SCR 803-772-5206 or email info or byron at screaltors.org)