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Old 04-29-2013, 09:42 PM
 
5,150 posts, read 7,410,181 times
Reputation: 1442

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OK, that's not exactly true. Well, it's not true at all. It's a democrat making the move but the GOP is in charge of the leg so we should blame them. Or thank them.

Rodney Moore introduced three bills today in regards to HOA. They are significant and I support his ideas. Unfortunately he's also the guy that wanted to create the dog owner registration list so I'm not sure.

House bill 175: http://www.ncleg.net/Sessions/... Abolish foreclosures on liens. Use other methods to collect besides taking someone's house.


House bill 871: http://www.ncga.state.nc.us/Se... Turn control of HOAs over to the real estate commission. HOA managers to be licensed and bonded.



House bill 883: http://www.ncga.state.nc.us/Se... Require training for board members.


From 871:

The General Assembly finds that a community association as described under and 30 subject to Chapters 47C and 47F of the General Statutes that in whole or in part burdens or 31 pertains to real property in this State is deemed to be an interest in real estate, and as such shall 32 be governed by the laws of this State relating to real estate. 33
(b) The General Assembly further finds that managing a community association by 34 collecting and handling assessments and other funds and managing property of the community
association are deemed to be real estate transactions. If a community association is not properly 1 managed, the improper management can adversely affect the real estate through foreclosure of 2 the community association member's property or bankruptcy of the community association. 3 Improper management may also affect the rights of the community association members as 4 consumers and property owners. It is the purpose and intent of this Article to protect the public 5 from persons unqualified to provide community association management and from 6 unprofessional conduct by persons regulated pursuant to this Article.
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Old 04-29-2013, 10:19 PM
 
Location: Charlotte Metro Area
2,173 posts, read 3,928,641 times
Reputation: 1712
They need to check with each other.

The wording in HB 871 "If a community association is not properly (1) managed, the improper management can adversely affect the real estate through foreclosure of (2) the community association member's property " is negated by the revision to HB 175, which says that an HOA can no longer foreclose on a property owner for non-payment of assessments.
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Old 04-29-2013, 10:37 PM
 
5,150 posts, read 7,410,181 times
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Quote:
Originally Posted by Ex-LI View Post
They need to check with each other.

The wording in HB 871 "If a community association is not properly (1) managed, the improper management can adversely affect the real estate through foreclosure of (2) the community association member's property " is negated by the revision to HB 175, which says that an HOA can no longer foreclose on a property owner for non-payment of assessments.
Yeah I caught that too. They must be hedging bets. 175 is going to be the hardest and honestly who knows what effect it would have? I like the idea but I can see serious push back.
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Old 04-30-2013, 06:22 AM
 
22,769 posts, read 29,394,077 times
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giving real estate agents control over anything is a very bad idea
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Old 04-30-2013, 07:07 AM
 
Location: The Triad (NC)
32,820 posts, read 77,111,459 times
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Quote:
Originally Posted by GCharlotte View Post
OK, that's not exactly true. Well, it's not true at all. It's a democrat making the move
but the GOP is in charge of the leg so we should blame them. Or thank them.
Thank them.
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Old 04-30-2013, 07:23 AM
 
1,484 posts, read 4,016,829 times
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Default $$

People need to be licensed, People need to be trained and a new fund is to be created.

Real Estate Education and Recovery Fund is in 871

Looks like a money generator that will be charged back to the homeowners when an hoa is created or when a new board member is elected because new training would be needed.. More money from homeowners.

Where there is an expense of any kind, you can be sure it will come out of your pocket.
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Old 04-30-2013, 07:37 AM
 
821 posts, read 1,754,102 times
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If a management company or individual is not licensed, requiring some training, and bonded, that's a problem. As a former HOA homeowner and former board member (something I did NOT enjoy, but was involved to protect my investment) I would never contract with any company or individual who did not have coverage to protect the homeowners and the board. Prohibiting an association from attaching a lien and eventually foreclosing on a property protects those who have (1) read their HOA documents and (2) pay their monthly assessments, just like they pay their city and county taxes. People buy into an area that has an HOA then decide the monthly fees is an option. I'm not in an HOA now, but with few exceptions (those small minded individuals who get power hungry) do not have a problem with HOAs, but they must be accountable. In VA, some associations had to declare bankruptcy when a management company exec dipped into the cookie jar and left homeowners with an empty cookie jar. Fortunately, my association was not affected.
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Old 04-30-2013, 08:25 AM
 
Location: Charlotte, NC
1,969 posts, read 3,424,219 times
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Quote:
Originally Posted by MrRational View Post
Thank them.
Yep, anything that neuters Homeowners Associations are a good thing. I understand the intent, but generally, it ends up pitting neighbors against each other (or typically, 1 or a couple of people with no lives and too much time on their hands), in the almighty pursuit of imaginary home values.
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Old 04-30-2013, 11:15 AM
 
Location: Salisbury,NC
15,918 posts, read 7,188,878 times
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A properly run HOA is a money engine that different groups want to get their hands on. See the bills and then see which groups will gain by the ability to legally steal those excess funds the HOA should have for needed repairs.

Money saved today leads to fewer spec. ass. later. No vision on the part of the people backing these.
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Old 04-30-2013, 11:55 AM
 
910 posts, read 1,272,670 times
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Quote:
Originally Posted by le roi View Post
giving real estate agents control over anything is a very bad idea
Honestly we'd be better off getting rid of them altogether and using automated listing and bidding systems. They're actually proven to get a better ROI.
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