Contact Us For A Consultation
302-644-7181 Lewes
302-697-4900 Camden

How do HOA's fit into residential real estate transactions?

Many Delaware residents who buy homes, townhouses or condominiums discover that they must become part of a homeowners' association. The fees associated with an HOA are only one small part of what it means to be part of it. When completing a residential real estate transaction under these circumstances, an individual needs to understand what the HOA will require.

A prospective buyer should be able to read the covenants, conditions and restrictions of the HOA. Knowing what the dues are and what is included in them is the first step. An individual should know what they will be required to do and what they are not allowed to do in a building or neighborhood. Make sure that the property for purchase is in compliance with the rules. If not, it may need to be brought into compliance before it is purchased or soon thereafter.

Some HOA communities can be quite restrictive. If an individual disagrees with the rules or has some other problem with them, purchasing that particular property might not be a good idea. One way to assess the flexibility or rigidity of an HOA is to request a copy of the minutes of the last meeting. This should provide information about any conflicts among the members and how the issue was handled.

This is just one aspect of a residential real estate transaction that requires a Delaware resident's attention. HOAs serve a purpose in many communities, but if an individual has any hesitations about dealing with the rules or the association itself, the purchase may not be in his or her best interest. It may be too late after the closing to find out that it is not a good fit. It may help to have an attorney review the HOA's rules, fees and minutes to help make an informed decision before moving forward.

Source: investopedia.com, "9 Things You Need To Know About Homeowners' Associations", Amy Fontinelle, May 28, 2017

No Comments

Leave a comment
Comment Information

What Our Clients Say About Us…

My wife and I would like to take this opportunity to highly recommend the legal practice of Bonnie Benson and her very professional staff… Bonnie and her staff are organized, engaged in the client's case and they communicate effectively.

Read More
Latest Blogs
Get The Help Now

Need Answers Now? Contact Us Immediately

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

your success. our commitment. elder counsel excellence in elder law  and special needs state bar delaware association

Camden Office
306 East Camden Wyoming Avenue
Camden, DE 19934

Phone: 302-697-4900
Fax: 302-697-4901
Camden Law Office Map

Lewes Office
33718 B Wescoats Road
Lewes, DE 19958

Phone: 302-644-7181
Fax: 302-644-7182
Lewes Law Office Map

We Accept visa mastercard discover network
Review Us