Home Selling in 21061>Question Details

linda stuchi…, Renter in Glen Burnie, MD

i recently started looking at townhomes/condos that have a hoa. my problem is that i am interested in this

Asked by linda stuchinski, Glen Burnie, MD Wed Aug 12, 2009

one townhome that has a fee of 81.00. my question is how do i get the info on the restrictions and what the fee includes without putting in a contract on this home. my realtor is not helping me with this and im not sure how it works since im a first time homebuyer. i have emailed many realtors also for info and recieved no response either. do i have to put in a contract in order to recieve this info? any suggestions would be great.

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Usually there is a provision in your contract that allows you a certain amount of days to review the HOA documents once the contract is accepted. Since there is a cost to obtaining the docs, and you also want them to be the most current, they are generally not obtained before a contract has been accepted. Once you have reviewed them, if they are not accceptable to you as a buyer, you have a certain number of days within which you may cancel the contract.
0 votes Thank Flag Link Mon Mar 15, 2010
So sorry to hear you aren't getting the info. you need from someone that works for YOU! Typically with an HOA the monthly fee will cover common area maintenance and things like playgrounds or other common facilities. You may not get a full re-sale package until well after you've gone under contract. Reason being, most are ordered once a contract is received. They are expensive to obtain ($100 - $250) and take a week or more to receive once ordered.

If you just want basic information, e-mail me the community you are looking in. If I've sold there before, and chances are I have, I can give you what I I know from memory.
0 votes Thank Flag Link Thu Aug 27, 2009
Typically you will have an amendment with the contract of sale that will disclose the costs of the HOA- in the MAR Residential contract of sale on page 6 of 11 it states in article 29 the following: "The property is not part of a development subject to the imposition of mandatory fees as defined by the Maryland Homeowners Association Act, unless Acknowledged by attached Addendum".......now the addendum is titled "Delivery and reciept of Substantial and Material Amendments to Disclosures and Documents Pursuant to Maryland Home Owners Association Act" details out the information that will be disclosed and what documents sent to you regarding the HOA and the costs associated with the HOA, if you would like you can contact me for further information, I would think that your agent should be able to reach out to the selling agent to get you this information in the disclosures on the property that you are interested in before you put a contract in on it, Listing agents want to sell the property and typically will answer questions for the selling agent...please do feel free to contact me with any further questions, I am a local Anne Arundel County Realtor who is very familiar with the Glen Burnie area.

Hope that this answers your question....
Web Reference: http://www.JudyANelson.com
0 votes Thank Flag Link Thu Aug 13, 2009
Normally, the bylaws, declaration, articles of incorporation, rules and regulations and financials are provided to the buyer when an offer is accepted. There should be a contingency that the buyer can review these documents within so many days and cancel the contract if buyer chooses to.

With that being said you could go to the HOA management company and ask to review these docs in their office.
0 votes Thank Flag Link Wed Aug 12, 2009
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