Hey Tony,
I love questions like this... When buying a condo or home with an HOA, the HOA docs and "health" of the HOA can be very important to most buyers. As a buyer, you may be able to find out important information simply by calling the HOA. Sometimes they have a lot of info posted on their websites. However, it's been my experience that some HOAs are not as accomodating as others. If you are willing to pay for the information (usually less than $150... to the HOA), you can typically get any and all your questions answered, even before you write the offer. This may be a good option, but it can start getting costly if looking at multiple HOAs (and time-consuming).
It's true that you typically have 17 days in CA before you may be required to remove contingencies, but in many cases you may not get the HOA docs for 1-3 weeks, so you should not count on having a lot of extra time to read and re-read these documents. If you hire the right exclusive buyer's agent, you will have an agent working on your side... for your best interests, doing the leg-work for you, and guiding/counseling you through the process.
An exclusive buyer's agent works for a brokerage that never represents sellers (never takes listings) and specializes in representing buyers on their side of the transaction. More about exclusive buyer representation in San Diego at
http://globella.com/buyer-agency.
Best of luck!
Justin Gramm
Principal Broker, Exclusive Buyer Agent
Globella Buyers Realty
858.437.2662 Direct
858.228.9801 Fax
justin@globella.com
http://globella.com
CA DRE License #01714813
- Sun Jan 30, 2011