..or he may be thinking of a co-op

No they can not. your husband's boss is thinking about a Condominium. Condominiums associations may sometimes controll the minimum sale price. That is why when purchasing a condo one has to receive what is "a right to first refusal"

Your boss may be thinking about the hoa restricting the type of sale you make (selling to an owner occupant vs an investor) not the amount you sell for.

Dear Hopeful: Homeowners Associations do not get involved in personal real estate transactions or dictate pricing. Just for your own comfort level I would advise you to contact the Homeowner's Association, customer service department, of the neighborhood you will be purchasing in and ask them point blank about this.

A homeowners association's authority is limited to the Covenants, Conditions and Restrictions, or (CC&R's). You may obtain a copy of the CC& R's for the homeowner's association that governs the neighborhood you are purchasing in and read it during your due diligence period. The standard due diligence period is 17 days from acceptance as stated in your purchase contract on page 4 paragraph 14 B, unless of course, your are buying a bank owned home it may be shortened.

If there is something that you disagree with or find that you don't like and you are within your due diligence time period you can stop the transaction and decline to purchase the home.

Don't believe advice or comments from co-workers, or friends, research it yourself by contacting the Homeowners Association directly and ask them point blank it they dictate pricing. I am sure you will find out that they don't get involved in homeowner's personal sale of their property.

Good Luck to you!!!

Nope......as far as I know, a HOA can not dictate the terms of sale. They can, with proper CC&R's impose occupancy restrictions (FED compliant) and rental/lease restrictions yet, they can not dictate terms of sale. Contact an attorney dealing in HOA issues for more information and review the CC&R's before completing your purchase.