Interested in the over 55 community in Holland, PA called Regency at Northampton.

Asked by Murphy, Bucks County, PA Tue May 5, 2009

HOA fees are $245.00/month. How do you determine if that is average and if the association is financially sound? Are you able to review their financial documents?

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., , Yardley, PA
Tue May 5, 2009
Hi Murphy
The only way to determine if that is average is to compare other adult communities Hoa. fees and what they entail.My office is in Holland. There is a review period to read the condo docs,call the association if you have any questions. and decide if this is for you
Jen Buschel
Advantage Real Estate Associates
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Judi Wolfson, Agent, Margate, PA
Tue May 5, 2009
Hello Murphy.

This community is built by Toll Brothers and they are a very stable company. I myself live in a Toll home on "Toll Drive". You will be given a copy ofthe budget and all the rules and regulations and then have time to review them and decide if they are acceptable to you, prior to your being "locked" into the purchchse.

The association fee of $245 seems to be the same for both the 2 and 3 bedroom untis.
These fees pay for the common area maintance, snow remoal, lawn care, pool and clubhouse.

There are 6 units for sale now and I'd be delighted to send you the details including interior photos and room sizes on all of these homes. Just give me a call at 800-339-5834 and I will gladly send you the info via email.

Best regards,
Judi Wolfson, ABR, CRS, ePro500
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Heather Ober…, Agent, Doylestown Township, PA
Tue May 5, 2009
Hi Murphy,
That HOA fee is pretty typical. If you have other communities you are interested in, I could let you know what the HOA fee is for them.

As far as their financial documents, in the PA Agreement of Sale, there is a provision for you to review the bylaws, rules and regulations, and financials for the HOA with the ability to terminate the agreement upon review. The default timeframe is as follows: Sellers have 15 days to request the resale packet, the association has 10 days to comply once they receive the Seller's request. The Buyer can declare the contract VOID at any time before presented with the docs, and for 5 days after receipt.

Of course, if you wanted to review the docs prior to putting in an offer, the Sellers can probably furnish the information for you.
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