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Old 01-31-2009, 08:56 PM
 
Location: Charlotte, NC
7,041 posts, read 13,102,313 times
Reputation: 2323

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Quote:
Originally Posted by walidm View Post
In North Carolina you do have an opportunity to review the Declaration of Restrictive Covenants, Bylaws, Articles of Incorporation as well as all documentation regarding the HOA, and in particular any items which may limit use, prior to signing the contract.

The Contact information for the HOA is part of the Contract for both parties (buyer and seller), within the forms Realtors use for the transaction. On the Sellers side it is in the contract, for the buyer the contract allows for receipt, review and attachment of the completed Owners Association Disclosure and Addendum prior to signing the contract. We also make a special note to advise the buyer to receive and review all documentation regarding the HOA prior to signing the Offer to Purchase and Contract.

I also tell my clients to walk around and talk to the neighbors if they are really concerned - they'll tell you everything ya want to know...won't we all.
That would be wonderful IF YOU KNEW THE HOA EXISTED!! I was completely clueless, had no idea that it existed, nor what it was to begin with!!
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Old 02-01-2009, 06:09 PM
 
Location: Long Island
8 posts, read 12,937 times
Reputation: 10
Thanks all... reading it all and taking it in... can definately see how the HOA could be a good thing and on the other hand a not so good thing ... hmmm... decisions decisions! Again - thank you all and Just Peachy... my fiance wants to find out what year you graduated... (he graduated from Memorial in 82!)
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Old 02-02-2009, 08:18 AM
 
Location: Some where new!
324 posts, read 652,791 times
Reputation: 385
1980
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Old 02-02-2009, 09:30 AM
 
Location: Ayrsley
4,714 posts, read 8,456,347 times
Reputation: 3814
Quote:
Originally Posted by chicagocubs View Post
That would be wonderful IF YOU KNEW THE HOA EXISTED!! I was completely clueless, had no idea that it existed, nor what it was to begin with!!
You've stated this over and over in numerous threads. I think we've got it by now - you had no clue there was an HOA before you signed on the dotted line...for whatever reason: they hid it from you, they assumed you were aware of it and you weren't, etc. Lesson learned - always try and be thorough in your research before buying a house. I'm not saying you were not - something slipped through the cracks for whatever reason.

I'm sorry this happened to you...but you really need to stop using this one personal experience as an example of how bad HOAs are.
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Old 02-02-2009, 11:13 AM
 
Location: Some where new!
324 posts, read 652,791 times
Reputation: 385
Most house listings in NC listed the HOA fee right on the listings and thats how I learned about HOA's. Sorry you got surprised by it.
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Old 02-02-2009, 06:51 PM
 
Location: Charlotte
12,646 posts, read 13,892,215 times
Reputation: 1679
Quote:
Originally Posted by chicagocubs View Post
That would be wonderful IF YOU KNEW THE HOA EXISTED!! I was completely clueless, had no idea that it existed, nor what it was to begin with!!

I'm sorry to hear about your experience, I'm certain the Real Estate Commission would view the existence of an HOA as a material fact, to be disclosed to a potential buyer, since it could affect the buyers decision to purchase.

I certainly tell my clients they exist, what the Dues are, when they are due, and what is covered since the fees can determine or influence whether or not a client is comfortable with the payment as it pertains to their budget - particularly in townhomes and condominiums where the fees can cover amenities or services. I aslo suggest they call the HOA and ask every question they can think of.
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Old 02-02-2009, 09:34 PM
 
Location: Tampa
3,981 posts, read 9,412,063 times
Reputation: 1171
the problem with HOA's ,at least down here right now, is that they can jack your rates up like crazy here and you cant do anything but take it.


"thank you sir, my i have another?"
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Old 02-03-2009, 04:58 PM
 
Location: Indian Trail
539 posts, read 1,310,853 times
Reputation: 266
Quote:
Originally Posted by LongIslandMover66 View Post
Hi 5kidsmama -

No, we havent been down to the area yet, just started looking for a warm-er climate that would be more suitable for my mom who is in her 70s (she needs out of the cold) and someplace with lower propery tax and still has some growth potenital (aside from moving back out to veags which is a bit far for us now that we have some roots in LI)

When did you move and how happy are you that you made the move from LI to NC?

Thanks too for the reply!
Research, Research and Reasearch. That is my advice to you from someone who moved from LI in '06. I spent 3 months researching Charlotte before we made our first trip. There were a number of towns that we crossed off our list after driving thru them for 10 min. I would expand your list some and come down with an open mind.
As for the HOA's, like you I did not have them growing up, we currently live in a community that has one. The rules and regulations are given to you prior to purchase(at least they should be) and you can read over them and see if you agree. The HOA's interest is to uphold the rules and the rules are in place for the homeowners protection. They can not just take your house. There are proceedures in place to notify homeowners of violations and you have time to correct that problem. The HOA is made up of other homeowners in your neighborhood and any issues/concerns you have can be brought up to them at the monthly meetings. These meetings are open to everyone in the community.
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Old 02-04-2009, 07:37 AM
 
Location: South Charlotte
124 posts, read 415,239 times
Reputation: 68
I'm another one that isn't a big fan of HOA's. I feel like they put too much power in the hands of neighbors with no experience in handling it and there are plenty of management companies that aren't much better - ours in Texas was a good example. It's funny that people say they have more of a community feel in HOA's because I kind of feel the opposite; especially in new developments. They tend to feel sterile and closed off to me. In the six years I lived in an HOA community I had one neighbor that made a true effort to get to know us. The houses turned over alot more; the one next to ours sold 3 times in the time we lived there. I realize not all HOA's are created equal and I'm sure there are better ones, but my experience definitely soured me.

There are plenty of nice neighborhoods around that don't have a large HOA if you look. We settled in South Charlotte, not North, but ended up in Providence Plantation where the homes are beautiful, the neighbors have been amazing; we've had four come to our home and introduce themselves bearing gifts already and we've only been here a little less than a week; and everything is very well kept despite the lack of a strict HOA. There is an optional $80 a year HOA fee that you can pay if you'd like that covers different social groups, events etc. but it doesn't dictate what you can or can't do to your home or property. Currently about 50% of the neighborhood participates. Just because a neighborhood lacks a large HOA doesn't mean they lack pride in their neighbhorhood or community.

That being said, some people really like having the extra level of management and what it provides. I think your best bet would be to come down and see the area; both HOA developments as well as those that don't have an HOA so you can get a feel for what works for you and then go from there. Good luck with your move; I'm sure you'll love Charlotte!
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Old 02-04-2009, 11:35 AM
 
Location: Charlotte
12,646 posts, read 13,892,215 times
Reputation: 1679
Quote:
Originally Posted by car421 View Post
Research, Research and Reasearch. That is my advice to you from someone who moved from LI in '06. I spent 3 months researching Charlotte before we made our first trip. There were a number of towns that we crossed off our list after driving thru them for 10 min. I would expand your list some and come down with an open mind.
As for the HOA's, like you I did not have them growing up, we currently live in a community that has one. The rules and regulations are given to you prior to purchase(at least they should be) and you can read over them and see if you agree. The HOA's interest is to uphold the rules and the rules are in place for the homeowners protection. They can not just take your house. There are proceedures in place to notify homeowners of violations and you have time to correct that problem. The HOA is made up of other homeowners in your neighborhood and any issues/concerns you have can be brought up to them at the monthly meetings. These meetings are open to everyone in the community.
Good Post! Like most regulatory bodies, HOA's have a procedure and process for increasing fees and making decisions that impact the majority - involvement is the key.

Regarding taking one's house....something must happen Before an HOA becomes involved legally with taking a home.........now what was it those homeowners didn't do?
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