what are the hoa's?

Asked by putter, Seattle, WA Sun Jul 28, 2013

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5
Jirius Isaac, Agent, Kenmore, WA
Sat Aug 3, 2013
I agree with what has been written. However, it must also be said that HOA's also might limit what you can do in ways that might not be acceptable to you, so make sure you read them carefully.

Good luck to you in any case,
Jirius Isaac
Isaac Real Estate Team
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0 votes
Aj Allen, , Seattle, WA
Sun Jul 28, 2013
HOA stands for home owner's association. Their role is to enforce certain CCNR's (covenants, conditions, and restrictions), in addition to collecting dues to pay for certain types of maintenance. Condominiums, townhomes, and some single family houses have HOA's. HOA's will use collected dues to maintain yards, common areas, and sometimes structural repairs. Some HOA dues will cover water, sewer, garbage, and cable, while others only cover maintenance or any combination of the aforementioned. Always check the HOA's budget and the building condition before you consider purchasing, especially if considering a condominium or townhome. For example; if the HOA decides to replace all of the windows, siding, or both, and the cost is $100,000, the HOA will put a lien called a "special assessment" on each unit proportionate to the percentage of the square footage your particular unit occupies. For example; a 10 unit, 10,000 sq ft building with 1,000 sq ft units needing that same $100,000 repair would cost each owner $10,000, unless the HOA already had the cash on hand to have the repairs made.
0 votes
Khaleel Grant, Agent, Woodinville, WA
Sun Jul 28, 2013
Along with keeping the buildings in good condition, homeowners associations affect the property value in a positive way by keeping up the standards of appearance. This creates a more stable investment that will retain its value. Remember that one must pay the HOA dues as they can place a lien on the property for unpaid dues plus any fees incurred in the collection process.
0 votes
Saviya Rowla…, Agent, Seattle, WA
Sun Jul 28, 2013
The dues are 340 a month. It includes Central Hot Water, Earthquake Ins., Lawn Service, Security Services, Water/Sewer.

Saviya Rowland
CB Danforth
206-334-8348
0 votes
Ken Graff, Agent, Seattle, WA
Sun Jul 28, 2013
Home Owners Association. Most commonly, "HOA's" refer to the monthly home owners association dues the owner of each condominium must pay to a common fund used for the good of the building(s). These funds also are used for the upkeep and maintenance of common areas.
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