Know your HOA Rules!

Front (1) As a Realtor I run across HOA’s several times a year. Trust me when I say that not all HOA’s are the same! Recently I have noticed quite a few of them changing the rules on allowing units to be rented. Typically HOA’s only allow a certain percentage to be rented.

When you purchase a town-home or condo please look through those rules VERY carefully. I recently ran in to some “issues” concerning an HOA where I represented the Seller. This was a town-home in a newer area located in Ogden.

I received SEVERAL inquiries from potential buyers wanting to purchase the town-home for “investment” purposes. Because these town-homes had already reached their “quota” for rentals this was NOT an option.

We received a really good offer in December 2013. The new buyer had 2 small dogs, the HOA only allows one. We submitted several “requests” to make an exception. The HOA denied our requests. After doing some more research I found 2 other town-homes listed in the SAME community that had “remarks” on the listings that stated the homeowners had 2 small dogs so they needed “ample” notice for showings. I approached the HOA asking why they are allowing this to happen, when CLEARLY they denied our requests.

The HOA responded stating:

“We feel your frustration at the loss of the sale of 1047 Fort Lane due to our pet laws. The situation with 1436 Blossom was as follows:

The owner of that unit had lived in Farr Orchard for a number of years with his family and no pets.  At some point, the family separated and after that, he acquired the dogs.  It was some time before the Board was aware that there were 2 dogs, which is not allowed by our governing CC&R’s.

The Board should have stepped in at this point but hesitated. Then we learned that he wished to sell his unit because of the dogs.

We had not been vigilant enough in this situation and were determined that the number of pets brought into Farr Orchard in the future be strictly regulated according to our governing documents. It was at this point that the sale of 1047 was brought to our attention.  Your client was honorable enough to be very up front about bringing pets onto the property. We were very sorry to have to inform you that this was not permissible.

We are hoping that you can still find a buyer for 1047. ”

Also…please note that there are 4 other units in this complex that are either doing a Short Sale or in Foreclosure…in part because of the “rental” and “pet” rule.

Lesson to be learned…KNOW the HOA rules and Make sure they won’t stand in the way of Selling your Town-home/condo. At this time my seller has removed the town-home from the market. We will try again in the Spring. Do you know any buyers that DON’T have more than one Dog;)….this IS a great town-home!

Here is the Virtual Tour….

 

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jennifer sticker real estate