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Yes, a Condo Association or an HOA can deny a new owner who refuses to comply with such a request if it is clearly stipulated in the CCR (Community Covenants and Restrictions). I have personally seen it happen. It is not a form of discrimination (In My Opinion). Essentially it is like a credit check that determines that you have the ability/income to pay the required monthly/yearly fees.
I am not an attorney, nor do I play one on TV. I am a realtor with a CAM (Community Affairs Management) license in FL.
I don't have a copy of the Community Covenants and Restrictions or anything like that, yet. And how many years of condo fees do you somehow assure them you can cover? 2 years, 5, 10? ---Any one of those scenarios can be proven with a phone call to my bank but that still doesn't mean I want to give the Association my social security number or bank account number.
First, do yourself a favor and work with an agent. As for condos, you need to understand that you are both buying a unit AND buying into an association of other unit owners who together own the common property, and together you are all responsible for the expenses associated with that common property. Although some condos don't seem to care, I wouldn't want to throw in with a condo association that does not screen its potential new members. That's why they want your info. They will probably do a background check to see that you are credit worthy and that you have not had a criminal history. They are not being intrusive, they are protecting everyone's investment. Once you are a fellow owner, they will protect your investment, too.
Why would I get an agent when I already have an accepted offer? Part of the reason I am getting a good deal is because the sellers are not having to pay a commission to any realtors.
You don't even have a legally enforceable contract, as I understand it. In Florida, the seller must provide the buyer with all of the condo docs, financials, Q&As, etc., and the buyer has 3 days to review the info and back out for any reason if not satisfied with the info. In this case, it sounds like the estate would need to provide that to you. I'm telling you, get yourself an agent, get a contract, ask these questions of your agent, and get it done properly.
First, do yourself a favor and work with an agent. As for condos, you need to understand that you are both buying a unit AND buying into an association of other unit owners who together own the common property, and together you are all responsible for the expenses associated with that common property. Although some condos don't seem to care, I wouldn't want to throw in with a condo association that does not screen its potential new members.
Yeah, that right there is super creepy. I wouldn't want anything to do with this deal by this point. Run, do not walk, to find a real estate attorney - NOT A REAL ESTATE AGENT - an actual attorney - and get this stuff vetted. The verbal offer may be enough to be seen as a legally binding contract. Identify your options ASAP, decide how much nosiness you can stand, and act accordingly but with full knowledge of your rights and responsibilities.
If they don't want to pay an agent, get an attorney but you said your Dad was against that. Who is paying for the title insurance expense? Do you have an inspection period? What are the terms of the contract and the timing deadlines for each step? Starting to see the picture?
You don't even have a legally enforceable contract, as I understand it. In Florida, the seller must provide the buyer with all of the condo docs, financials, Q&As, etc., and the buyer has 3 days to review the info and back out for any reason if not satisfied with the info. In this case, it sounds like the estate would need to provide that to you. I'm telling you, get yourself an agent, get a contract, ask these questions of your agent, and get it done properly.
I called the seller's lawyer, and he said I had to get all that stuff, to just call the condo association. The sellers were family friends (of my father.) They are the adult daughters of my elderly father's deceased girlfriend. They are not willing to go and hunt for any information or documents.
On Monday I could try to call the seller's lawyer and remind him that they are responsible for providing condo docs, financials etc. but he already told me to go get it myself, so I don't know if I'd get anywhere. They seem to be treating all of this rather informally because of the personal tie-ins, because the previous owner was Dad's girlfriend. It's like they expect him to already have all the documentation and condo by-laws and stuff, but he doesn't. I mean, he's already spent time in the condo; he bought all the furniture. But his girlfriend purchased the condo.
My Dad doesn't want to hassle the daughters who are grieving, fighting between themselves, and difficult to deal with. And I want to buy the condo, which is modest and not expensive, because I have the cash and it suits me perfectly.
If they don't want to pay an agent, get an attorney but you said your Dad was against that. Who is paying for the title insurance expense? Do you have an inspection period? What are the terms of the contract and the timing deadlines for each step? Starting to see the picture?
Those are all good questions. I haven't even read it all yet; it's 11 pages of tiny script. I think I need to contact an attorney on Monday, hopefully someone who can take a look at this early in the week.
I'm buying a condo in Florida, in cash. The seller has already accepted the offer.
The Condominium Association there says that they have to approve the sale, so I have to fill out an application.
On the application they want:
- my social security number
- bank account number
- copy of birth certificate
- copy of driver's license
- previous address etc
- references
- and two more pages of information
And an interview. I don't even live in Florida yet, so I'm assuming a phone interview will suffice. I've already met some of the condo association members when I visited, so it's not like they haven't met me.
I'm paying cash. The previous owner's estate has already accepted my offer. I'm obviously not insolvent. THe monthly condo fee is low and I would be responsible for my own utilities. It's not a rental property. So, much of this information seems unnecessary and also none of their business, and leaving me at risk of identity theft if the information gets in the wrong hands. They seem very casual about their record-keeping and I have no assurances about how they would store this information.
For example, I don't mind if they phone my bank and my bank is allowed to tell them I have a bank acccount and enough money to cover say a year or two of condo fees, but to provide them with my account number?
This is not a professionally managed property management company but a homeowner's association, who do not seem to be very good at record keeping, given that they cannot seem to come up with any of the documents I am supposed to be supplied with. When I asked for a copy of the by-laws and rules they said "can't you get that from the previous owner?" --- it's an estate sale and she's dead.
I had a condo in Kentucky for years, and I never had to go through any of this B.S.
Is this typical, does anyone know? Is it even legal?
If your condo association is *this* big of a PITA now, can you imagine how living there is going to be? I would run as far and as fast as I could away from this place.
I think the respondents to this post are well-meaning, but over-reacting quite a bit.
The information is for credit checks and criminal records - if they even go that far!
Much is a mere formality; my "interview" for a SoFla villa in a 55+ community was over the phone and really was a sales pitch for how wonderful the community activities were!
I gave them the info, the sky did not fall, and I have never been happier in my life.
Either do what they want, respectfully ask for explanations, or walk. (or "accidentally" switch the 2nd and 3rd digits of your ss#!?)
Is it really a good idea to lawyer up and raise cain before you even have a contract?
Remember, these folks are your future neighbors.
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