FAQ's About Homeowners Associations
Posted by Larry Tollen on
If you are planning to purchase a new home, you will need to find out if the house is in a homeowner association. As a buyer, you will have to sign documents agreeing to be a member of the association and to abide by the association’s rules. Condominiums and townhomes have additional considerations which are addressed here.
What Is A Homeowners Association?
A homeowner association (HOA) is a group of homeowners who incorporate and form a mandatory membership organization. The purpose of the organization is to maintain common areas and to set forth rules and regulations regarding the use and appearance of the homes in the association. The association can consist of as few as two homes to as many as thousands. Most are established when new housing…
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