Dear Hopeful,

The HOA documents called (CC&R's) should have all the rules for the development. I would highly recommend you get a copy and read them over before you purchase. I must say, however, I have never heard of an HOA that dictated the sale price of property. It seems it would be quite difficult to do, as property values change regularly.

Unless your husband's boss is a real estate agent or lawyer specializing in real estate (which he isn't), tell hubby to pay no attention to him. No. The HOA cannot tell you how much to sell the property for. Take the documents to a lawyer for confirmation.

That sounds like a load of nonsense. The HOA is not in charge of your own personal finances. When you go to sell in the future, you & all other homeowners will be selling your homes at whatever price the market will bear at that time.

The buyer of your home will need to get an appraisal to support the price & on the flip side a buyer will not pay more than market value or value in their eyes & you wouldn't sell for less than what's agreed upon between you and the buyer.

I know you're buying a short sale property. As a short sale listing agent I did not need to get an OK with the HOA to list or sell the property at a particular price. The only thing they cared about was the bank paying for back dues.

emilyknell1@yahoo.com

Dear Hopeful:

The HOA's Covenants, Conditions and Restrictions (CC&Rs) will state any and all rules applicable at the time of your purchase.

It's possible they contain provisions that aim to protect the overall home values. Before you buy, review these documents carefully and (I recommend) with the help of legal counsel to understand a) what they say b) how they apply to you now and in the future and c) if those provisions are enforceable).

Finally, remember that HOA rules can change over time with votes of the board, so what you signed up for may not be what you end up with. If you do choose to move forward, be prepared for the responsibility of staying active with what your HOA is doing.

Best Wishes.

Hi Hopeful:

I haven't personally ever heard of this, but as the other agent has said, you need to check the HOA documents. It will have the information and any other rules that must be followed.

Diana 909-945-5763

Check the CCR's. If there are any restrictions then it should state it in them.