Hot Topic Alert: Homeowner Associations

Download (PDF 2.5MB)

More than half of the owner occupied households in the U.S. are part of a homeowner association (HOA). HOAs provide a variety of services to the community in which it belongs—lawn maintenance, snow removal and uniformity in home appearance just to name a few. However, HOAs with too many restrictions may deter potential buyers. In 21 states, HOAs have “super liens” for unpaid assessments, meaning the HOA could foreclose on properties before a lender. 

Advertisement

Window to the Law

A monthly video series covering topics applicable to legal compliance for real estate professionals, brokerages, and REALTOR® associations.