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How To... in 30005 : Real Estate Advice

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Activity 1
Wed Dec 9, 2009
Chuck Green answered:
Grant,

Start with the covenants and restrictions document which should detail the how the control changes over from the developer to the residents and what if any support the developer will continue to provide until ther last home is sold within your community. There are a few communities on Abbotts Bridge and Sargent Roads similar to yours...I would stop in the communities and talk with a few homeowners to find out who the board of direcors are and contact them so you can get a feel what they are doing and who they may be using to maintain the community. In regard to budgets the developer should provide you that info and transfer funds during the take over of the HOA. The HOA will then need to decide how they want to manage the community and what funds will be needed to manage the community and the corresponding yearly fees needed to do so.

Chuck
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