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Old 02-18-2014, 06:41 PM
 
12 posts, read 14,963 times
Reputation: 21

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Don't the realtors have a responsibility to contact the HOA (not only to introduce themselves as the agents, but also to get information for the potential buyer) if a home they are selling is in that type of community?

I'm in the process of purchasing my first home and I've got a selling agent (which I have realized too late was a mistake; wish I'd known about EBA's earlier) that happens to work for the same realty as the listing agent, but in different offices. I am under contract for a home located in an HOA community. Neither of these agents has lifted a finger to attempt to reach any of the HOA staff to help me figure out what the HOA does and does not cover. They have left that entire responsibility up to me. I am under an "as-is" contract and have 2 days left to back out and request return of my deposit. I am seriously considering cancelling this thing because I don't feel either of them have done much to earn this commission except send emails back and forth. The listing agent had his handyman take care of some of the problems on the inspection, and that's about the most he has done.

I am getting the impression that the selling and listing agent feel I am being bothersome and holding up the process, but this process could have been expedited if they had just made an effort to do something besides send emails back and forth and look up comps. The EBA I've contacted has spent more time on the phone with me than my selling agent has during this entire process. I am seriously thinking of cancelling this contract (before the end of my inspection period) and switching over to the EBA.
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Old 02-18-2014, 06:56 PM
 
Location: Toledo, OH
1,725 posts, read 2,996,901 times
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NO. Your Agent should be in touch with the Listing Agent to get the HOA documentation from the Seller.

What is an EBA?

Some listings have attachments and sometimes you see the HOA documentation there. Is rare though.

Play hardball. Call (or e-mail your Agent) and tell them you want the HOA Documentation NOW or you want to speak directly to the Broker. You are in a Contract and you need to see if just because HOA documentation has not been giving as of yet, if you can walk away. Don't just assume you can without losing something.

Do you want to list the community to see if anyone has it or can find it?
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Old 02-18-2014, 06:57 PM
 
504 posts, read 613,298 times
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Look at your contract. You should have signed an HOA addendum and either received a copy of the covenants from the seller or signed a document that you did not receive the covenants and you are ok with that. The realtor doesn't need to meet with the HOA or anything - just to provide the docs. You can google the HOA name and see if the covenants are on-line.

At any rate here is the link to the Florida statute that deals with it: Statutes & Constitution :View Statutes :->2013->Chapter 720->Part II : Online Sunshine
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Old 02-18-2014, 08:41 PM
 
12 posts, read 14,963 times
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Quote:
Originally Posted by gulfer View Post
NO. Your Agent should be in touch with the Listing Agent to get the HOA documentation from the Seller.

What is an EBA?
EBA = Exclusive buyer's agent
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Old 02-18-2014, 08:43 PM
 
12 posts, read 14,963 times
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Quote:
Originally Posted by LCL111 View Post
Look at your contract. You should have signed an HOA addendum and either received a copy of the covenants from the seller or signed a document that you did not receive the covenants and you are ok with that. The realtor doesn't need to meet with the HOA or anything - just to provide the docs. You can google the HOA name and see if the covenants are on-line.

At any rate here is the link to the Florida statute that deals with it: Statutes & Constitution :View Statutes :->2013->Chapter 720->Part II : Online Sunshine

I already have a copy of the covenants. It doesn't give details such as if the roof is covered, lawn maintenance, basic cable, community amenities are included. It's basically a 50 page document with a lot of legal jargon that is difficult to understand.
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Old 02-18-2014, 10:37 PM
 
5,048 posts, read 6,963,225 times
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First, in addition to the bylaws and CC&Rs you would like to have the most recent insert of financial info, expenses, any notice of current special assessment, any lawsuits. Some states require these.

But I feel your realtor should definitely know what you get with your unit. And the contract should have been contingent on obtaining this info by a certain date and contingent on reviewing this info by another date.

A purchase in an HOA includes with your home certain other things...that is, the reasons why you are buying in an HOA. What and where is common area, tennis courts, pools. Whether you mow your lawn or not. Whether water is joint with the expense shared.

Did they even tell you how much your monthly fee is? So, reasonably speaking, you shouldn't pay a fee without knowing what it's for.

If you are buying a condo, you will all share in roof replacement costs. So find out what the reserves are for that.
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Old 02-19-2014, 05:04 AM
 
25,882 posts, read 39,178,572 times
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The sellers agent should have provided the HOA docs but in some cases sellers don't have the docs and in short sales sellers are not willing to pay to obtain new ones.

Some HOA's have online docs. But most of them charge a lot of money for them. If the seller refuses to provide them than it is up to buyer to obtain them or back out.

In our office we have lots of copies of HOA docs since we know how value they are...some are $500 to obtain in case of Condo docs.!!!

HOA's are not a real business run company and often run by volunteers who don't want to talk to every realtor but if I as an agent or buyer don't get the info I need then I would advise the client to walk just like I would do since HOA docs can make a huge difference.

A good agent will do everything to get them but hardly any agent is willing to pay for the HOA docs since they often charge $0.50 to $ 1.00 per page for copies.

I have heard that the state was going to change the laws and these papers should be provided for free or posted online but I haven't heard that this has happened yet.

I know HOA's now have to register with the DBPR.

I would suggest to back out...you can always enter into a new agreement or an addendum that without the HOA docs you will not be able to move forward.

That is your right and time is of the essence. Buying a home must be something you feel confident with and not a deal that you have legitimate doubts about.

Keep in mind that many buyers don't even care about the HOA docs and IMO they should care but that is my personal opinion.

Tell you agent and put it in writing that you need the HOA docs and otherwise you can't move forward with the deal...your agent will jump on it to get them...if not than ask the broker for a different agent in the same office.
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Old 02-19-2014, 05:19 AM
 
4,586 posts, read 4,623,425 times
Reputation: 4358
Quote:
Originally Posted by userABC123XYZ View Post
Don't the realtors have a responsibility to contact the HOA (not only to introduce themselves as the agents, but also to get information for the potential buyer) if a home they are selling is in that type of community?

I'm in the process of purchasing my first home and I've got a selling agent (which I have realized too late was a mistake; wish I'd known about EBA's earlier) that happens to work for the same realty as the listing agent, but in different offices. I am under contract for a home located in an HOA community. Neither of these agents has lifted a finger to attempt to reach any of the HOA staff to help me figure out what the HOA does and does not cover. They have left that entire responsibility up to me. I am under an "as-is" contract and have 2 days left to back out and request return of my deposit. I am seriously considering cancelling this thing because I don't feel either of them have done much to earn this commission except send emails back and forth. The listing agent had his handyman take care of some of the problems on the inspection, and that's about the most he has done.

I am getting the impression that the selling and listing agent feel I am being bothersome and holding up the process, but this process could have been expedited if they had just made an effort to do something besides send emails back and forth and look up comps. The EBA I've contacted has spent more time on the phone with me than my selling agent has during this entire process. I am seriously thinking of cancelling this contract (before the end of my inspection period) and switching over to the EBA.
No. You can ask the agent to provide a copy of the by-laws, but there isn't going to be an "introductory" meeting with all the parties involved.
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Old 02-19-2014, 05:22 AM
 
4,586 posts, read 4,623,425 times
Reputation: 4358
Quote:
Originally Posted by userABC123XYZ View Post
I already have a copy of the covenants. It doesn't give details such as if the roof is covered, lawn maintenance, basic cable, community amenities are included. It's basically a 50 page document with a lot of legal jargon that is difficult to understand.
The roof is covered under what? The HOA is there to POLICE YOU to keep your house clean, lawn manicured, to make sure you don't paint your house orange, or build "unproved" additions, or plant the wrong flowers! and also that you don't park and work on 20 cars in your driveway, etc. ONLY a handful (usually townhomes) include the lawn maintenance in common areas. Most don't. You pay for your street lights, the roads IF they're not public/city property, and pool if there's a community pool. Other than that they are not going to cover cable/gym if it's not a condo.
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Old 02-19-2014, 05:37 AM
 
Location: Sunny Florida
7,136 posts, read 11,018,976 times
Reputation: 9460
OP, make sure you find out if there is a CDD in addition to your HOA. Also ask if there is a yearly cap on the amount these fees can rise. Sometimes a condo looks like a great deal until you realize that the monthly fees you'll be paying are actually more than you'd pay to have someone do maintenance on a single family home. As for the HOA documents, you should definitely have a copy of them and be comfortable with what you are entering into before you buy. Remember if your gut is telling you something is off or not quite right you should listen. There are lots of properties for sale here and rushing into something you aren't entirely comfortable with or knowledgeable about could be a big mistake. I wish you well and know being a first time home buyer is not an easy thing. Take care.
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