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Home Buying Step 13: Review the HOA Documents

If applicable, this is the time we review the HOA documents. If you are not living in an area with HOA, then you are ready for Step 14. 

In Texas many of the neighborhoods built in the last 20 years have Homeowners Associations (commonly referred to as HOAs) that are mandatory for you to belong to.  It’s important that you review the Covenants, Codes and Restrictions (CCRs) before you purchase a home.  Some HOA’s are much more restrictive than others and that may deter your decision either way.  For example, if you have your heart set on a basketball hoop in your driveway for little Johnny or a clothesline for Grandma, read the fine print.  On the other hand, if you are purchasing a home that does not have an HOA, are you okay if your view out the picture window is your neighbor’s purple food truck with the giant hot dog in his driveway?


When we made the offer on the property, you may remember seeing a Homeowners Association Addendum which specifically gives the seller a certain number of days to get a copy of the CCR’s to you.  This is typically done after the option period is over since the seller has to pay for these documents.  Along with those documents, you will receive a Resale Certificate which is basically a snapshot in time of the financial health of the HOA.  You’ll want to be sure to look at this to see if they are struggling financial or have major assessments coming for a new pool. 


For more information on HOAs: What is an HOA?


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