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Old 03-09-2018, 01:21 PM
 
45 posts, read 38,652 times
Reputation: 19

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I sold my home in Broward and have 41 days to be out. I wanted to go to Palm Beach County in Wellington, Royal Palm Beach, Greenacres, or surrounding areas. The homes I am looking at are in gated communities and it seems they are more strict than Broward County. I was just denied in Terra Bella due to my credit not being 675. I have a very low credit score from a divorce a few years ago, but I am a cash buyer.

Can anyone recommend a community in the low 400's for a 4/3 that I can purchase at without credit approval? I find this so utterly ridiculous that an HOA needs to know my personal credit score to buy a home, it's not a condo. If I can pay cash, or for those obtaining mortgages, it's obvious one is not too broke for a measly $200 or $250 a month in HOA fees.

Any community recommendations would be great!!!
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Old 03-09-2018, 03:49 PM
 
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Is that legal to deny you housing especially being a cash buyer?
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Old 03-09-2018, 08:42 PM
 
45 posts, read 38,652 times
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Yes, apparently it is legal. From what my Broward realtor has told me an HOA is a community governing body and can deny based on credit score, any type of convictions, and/or even if credit score is ok, but contains pay offs in order to correct credit scores. It is super sad that I am leaving Broward County to find my next dream home, since Palm Beach does get you more and newer for the money, but HOA's control whether I can live there. To me, it's complete discrimination, but it does fall into the law. The law states one may not discriminate based on sex, race, religion, handicap, or illness, but they can based on credit.

My realtor informed me buyers having even 4 times or more the cash to purchase can't if they don't have good credit.
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Old 03-10-2018, 04:57 AM
 
Location: Palm Beach County
1,683 posts, read 3,677,844 times
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Bella Terra actually is one of the stricter communities on that.
You should be OK in others with a letter of explanation and showing your cash.
Worst case look at sugar pond in Wellington which doesn't have an hoa
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Old 03-10-2018, 03:54 PM
 
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Can you pre pay HOA? Say offer 6 months fees upfront as good faith?
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Old 04-02-2018, 08:50 PM
 
Location: Wellington FL
22 posts, read 13,214 times
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There are several communities in Wellington and Royal Palm Beach that do not have an HOA.

In Wellington, you can check out the following communities: Sugar Pond Manor is a nice community of Single family homes. When my 80+ year old Aunt wanted to move here from the St Petersburg area that is where she bought a nice 3br 2 bath house. Eastwood is also a Single family Home community without an HOA. Lastly, the community of South Shore has no HOA fees. Typically the houses are older ( most have been updated) and are on larger lots.

In Royal Palm Beach check out homes in: LaMancha which is older and offers single Family homes, Crestwood which is off Crestwood Boulevard and the Willows.

In many communities there is no credit score requirement but there is a background check which limits certain individuals with violent felonies and sex crimes. Hope this helps1
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Old 04-06-2018, 02:36 PM
 
2,818 posts, read 3,333,164 times
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Rather strange that an HOA corporation has any say whatsoever on who purchases a house. The HOA does not own the house. The analogy to lenders is misplaced at best. Lenders loan money (theirs) as an extension of credit and can decide who to loan money to on a non-discriminatory basis using a credit score. HOAs (as the industry of HOA attorneys and management companies argue) do not loan money and they do not extend credit nor does the property at issue belong to the HOA. So this practice seems a bit suspect. Moreover the fact that the info is collected by a management company for its own purposes is all the more reason to be concerned about this practice. Of course if this questionable practice is going on so openly then a prospective buyer might want to avoid the place like the plague. Undoubtedly the organization and its vendors act even more egregiously against the folks that actually purchased property there (owners).
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Old 04-06-2018, 04:39 PM
 
305 posts, read 101,702 times
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Quote:
Originally Posted by IC_deLight View Post
Rather strange that an HOA corporation has any say whatsoever on who purchases a house. The HOA does not own the house. The analogy to lenders is misplaced at best. Lenders loan money (theirs) as an extension of credit and can decide who to loan money to on a non-discriminatory basis using a credit score. HOAs (as the industry of HOA attorneys and management companies argue) do not loan money and they do not extend credit nor does the property at issue belong to the HOA. So this practice seems a bit suspect. Moreover the fact that the info is collected by a management company for its own purposes is all the more reason to be concerned about this practice. Of course if this questionable practice is going on so openly then a prospective buyer might want to avoid the place like the plague. Undoubtedly the organization and its vendors act even more egregiously against the folks that actually purchased property there (owners).
It's pretty simple the HOA is trying to avoid future issues. It is not unknown for people to not pay their HOA fees or assessments that pop up. This leaves the HOA with no recourse but to engage in expensive litigation to force the homeowner to pay up or sell to the HOA. Creating more debt and issues for the HOA who remember is not some mega corp out there but the other homeowners who are part of the HOA, even if the HOA is managed by an outside firm. It is less likely people with good credit are going to behave this way. Does it guarantee they don't , of course not, but it increases the odds. In fact I believe prospective buyers would feel better that this is in place as they know their neighbors are not liable to leave them holding the bag by failing to pay their HOA dues. The only real negative is you can limit your pool of people who are able to purchase, which could hurt property values if units take a long time to sell.

In the community i live in we added a credit requirement last year as we have several people who refuse to pay their HOA , one because they don't use the pool or clubhouse, two more who are Canadians and their properties here are their winter homes. So they feel they shouldn't have to not being year round residents. There are always people who still believe their Mother who told them they are special so they don't have to abide by rules they agreed to. I don't know if credit checks would have kept people like this from buying in but it if they acted in bad faith like this earlier in life it likely would be reflected on their credit.
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Old 04-13-2018, 05:36 AM
 
725 posts, read 481,483 times
Reputation: 549
Just out of pure pride, why would you not just buy a home that doesn’t have an hoa?
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Old 04-13-2018, 09:45 AM
 
59 posts, read 59,985 times
Reputation: 59
This. Simply buy a non-hoa property.

And work diligently repair your credit, obviously. Divorces are tough, I know. A temporary curbing of available homes (for your all-cash buy) is but a temporary - and relatively TINY - frustration you'll have to endure as you move forward.
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