Republic Title’s Scott Rooker and Shaun Neidigh sat down recently to discuss all things HOA including HOA issues and the HOA Addendum in the TREC 1-4 family contract.
The 1-4 family TREC contract may have an Addendum for Property Subject to Mandatory Membership in a Property Owners Association, often referred to as the HOA Addendum. Section A shows who is going to pay for the Subdivision Information and when the information is due to be delivered by the Buyer to the Seller. This section may give an out, or right to terminate the contract to the Buyer. The Subdivision Information is defined as both a current copy of the restrictions for the subdivision and bylaws and rules of the Association, and a resale certificate.
Listen in as Republic Title’s Shaun Neidigh and Scott Rooker discuss:
– What are traps you may fall into regarding HOAs?
– How much time should you allow for delivery of HOA documents?
– How can I help protect buyers and sellers from surprises?
For more informative videos from the Republic Title Legal Team, check out our YouTube channel: Republic Title – YouTube