Why the name? We love dogs and whippets stand for what we are: loyal, friendly, intelligent . . . . and we will run full speed ahead to find the right property for you! We will "whip it good!"
September 30th, 2020 10:31 AM by Barbara Doeringer
If you are thinking about moving, there are a lot of factors to consider aside from the house itself. Homeowners Associations are one example. An HOA can have its benefits but also its downsides. For those reasons, buyers should review a copy of the rules and regulations of an HOA before making an offer on a home.
An HOA is a governing body in a community, usually present in gated neighborhoods, planned communities and apartment/condo buildings. The HOA is funded and operated by residents, and there is a Board of Directors. This Board has meetings, creates budgets and is responsible for enforcing rules and regulations, which are legally set by them.
Fees vary by community and are meant to go towards maintaining the value of the community such as consistency in lawn care, maintenance of common areas like a clubhouse or pool, and creating certain standards to follow.
HOA rules are referred to as conditions and restrictions, or covenants. The majority of the rules are related to the exterior of the home; for example, you may be required to use certain chosen colors to paint the exterior. If you do not follow the HOA rules, you will initially be asked to comply. After the first notice, you may have to pay a fine, or as a last resort, face a lawsuit. If HOA dues are not paid, the Board has a legal right to put a lien on your home or even require you to foreclose in some states.
So, here are some ideas of what you should know before the purchase:
Having a Homeowners Association can be a great factor, but it is not for everyone. Be sure to know what you are getting into before you buy.