In Orange County we are fortunate to have many planned communities which are also part of homeowners associations.
During the process of buying a home which is part of an HOA you may find out that the home you want to purchase has one or more HOA violations.
Before you can move forward with purchasing the home you have to make sure that the seller resolves all HOA violations.
It’s The Sellers Obligation
Although you may want to purchase the home it’s the seller’s obligation to fix the HOA violations since those repairs could cost thousands of dollars especially if repairs are not approved by the HOA.
One of the best things you can do to protect yourself when purchasing a home which is part of an HOA is to have an inspection contingency.
An inspection contingency means the seller must get the repairs made which their HOA is requiring and if those repairs are not made to the approval of the HOA, and your satisfaction, you can walk away from the home, or you can ask the seller for a credit to complete the repairs yourself.
Another thing you can expect when purchasing a home which is part of an HOA is to receive an HOA document package.
Once you receive the HOA document package you will have three days to rescind your contract offer if there is something in the document package which bothers you, or the buyer refuses to make the necessary repairs to the home leaving the repairs up to you.
When dealing with an HOA make sure you have ALL of the documents you need before closing and take the time to schedule someone from the Homeowners Association to come out and approve work done on the home when you have the time to be there for the inspection process.
To learn more about how to deal with HOA violations, or to view the latest Orange County homes for sale, contact Fred Sed & Associates today by calling us at (949) 272-0125.