HOA Issues
Mandatory Home Owner Associations usually have rules that affect the transfer of ownership.
The also see a sale as a great time to require fees. They will charge for an up to date copy of the HOA documents as well as a Transfer fee (a few hundred to change the owner's names from the sellers to the buyers - maybe change the phone number, too).
HOA's might charge a penalty if they are not notified of an upcoming sale. So the seller should let them know a move is in the works as soon as the property goes under contract.
Buyers should take time to look at any HOA rules that affect them.
The also see a sale as a great time to require fees. They will charge for an up to date copy of the HOA documents as well as a Transfer fee (a few hundred to change the owner's names from the sellers to the buyers - maybe change the phone number, too).
HOA's might charge a penalty if they are not notified of an upcoming sale. So the seller should let them know a move is in the works as soon as the property goes under contract.
Buyers should take time to look at any HOA rules that affect them.
