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 One of every five Americans lives under rules and regulations that could confiscate their homes from them, remove their right to privacy and take away their freedom of expression.
Neither Congress, the police nor local governments can do anything about it. Some people hate the situation. Others love the rules. Many homeowners, however, don't realize what rights they've signed away until it's too late.
They are people living their American Dreams inside a community regulated by a homeowners association (HOA), and corresponding covenants, conditions and restrictions (CC&Rs) that constitute a form of government that pleases some but is just a headache-inducing hassle for others.
The reason: The rules that govern private home developments are very difficult to change and are set up by developers who never live on the site and who disappear after a few years.
Most neighborhoods, including homes, town homes, and condos, have rules that they make their homeowners follow that have been devised by the Home Owner's Association when the neighborhood was built. And, if the homeowner chooses not to follow those rules, called by-laws, the neighborhood will assess fines and perhaps even court procedures against the homeowner. Ignorance is not bliss in these situations so it is better to know these things upfront.
Most neighborhoods, including homes, townhomes, and condos, have rules that they make their homeowners follow that have been devised by the Home Owner’s Association when the neighborhood was built. And, if the homeowner chooses not to follow those rules, called by-laws, the neighborhood will assess fines and perhaps even court procedures against the homeowner. Ignorance is not bliss in these situations so it is better to know these things upfront.
Deadly rules for homeowner’s plans can be as simple as:
Adding a pool or hot tub
Adding a fence
Adding a basketball hoop
Adding a structure like a shed or additional garage
Painting your house a certain color
Adding landscaping or cutting trees
Adding a satellite dish
Adding certain items to your patio or front porch
Even of more concern are the rules pertaining to:
Renters – some neighborhoods cap the amount of rental homes that can be in the neighborhood
Fines can be assessed for:
Leaving the garage door
Leaving the garbage cans out past 5:00 on garbage day
Not cutting the grass or trimming the bushes
Leaving Christmas or other holiday decorations up too long
Barking dogs
Roaming dogs
Loud kids
All of these rules are part of the Covenants, Conditions and Restrictions. In this important document you will also find how the monthly dues are spent and what the condition of the budget is, as you should also ask to see the budget.
If any of the things above are a concern to you, or you have additional desires for your property, it is smart to ask to see the CCR’s during your due diligence period. Once you sign the Settlement Statement, you have opted into these rules.
Some neighborhoods also charge an initiation fee. This should be spelled out on the Seller’s Disclosure. If the Seller fails to state this fee, it will be their responsibility to pay but that is not the case if the monthly or yearly dues are wrong. That will be your responsibility. So, the bottom line is, investigate and ask questions to avoid buyer’s remorse.
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