HOA Homefront — Can entities charge transfer fees? (CA)

Q. Someone who just moved told me that there is an HOA transfer fee of over $800, however it was reduced to just over $500 when he questioned the price. Even the escrow person questioned the $800+. We were involved with two HOAs in Washington State before we moved here and no transfer fee with […]

Financial Facts Condo Buyers Need to Know

Buying a condo can have several advantages over buying a house. Unlike owning a freestanding residence that occupies a plot of land, owning a condo typically involves no yardwork and allows the buyer to only pay for the condo and not the land that surrounds it.   Read the article………………………..

Homeowners’ association pros and cons (GA)

Odds are that people in the market for a new home in the Golden Isles will buy one in a neighborhood with a homeowner’s association.  Realtor Missy Neu, chief operating officer for Berkshire Hathaway HomeServices Hodnett Cooper Real Estate, said the majority of newly developed neighborhoods have homeowners’ associations, while some of the older ones […]

Financial Red Flags for Clients Buying a Condo

Buying a condo can be an exciting step towards homeownership, offering a convenient and often more affordable alternative to traditional houses. However, being vigilant about potential financial red flags that may impact your investment is crucial.   Read the article………………………..

Deed restrictions: What to know about deed-restricted property

If you’re buying a home, or vacant land on which you plan to build one, then deed restrictions should be on your radar. These regulations restrict the way land can be used, as well as what you can build on it and what activities you can partake in while on the premises.   Read the article………………………..

What To Ask When Buying A Condominium

Before buying a condo, it’s crucial to ask the right questions. Understand your ownership rights and the reserve fund’s financial status. Familiarize yourself with the condo’s rules and potential pet restrictions.   Read the article………………………..

Co-p and Condo Buyers Are Responsible for Previous Alterations

In 2005, a shareholder at an Upper East Side co-op renovated his apartment after signing an alteration agreement in which he took responsibility for any damages that might result from the alterations. The agreement carried an additional requirement: if the apartment was ever sold, the new purchaser had to agree to assume responsibility for these […]

Condominium Closing Costs in NYC for Purchasers

It is no secret that apartments in NYC are expensive. In 2018 the average price of a condominium unit in NYC was $2,880,000. But what many purchasers and sellers fail to consider are the additional condominium closing costs in NYC that are involved in every real estate transaction beyond the purchase price.    Read the article………………………..

What your Condo Association Needs to Know About the New Fannie Mae and Freddie Mac Lending Guidelines

The Surfside condominium collapse led to significant reform in the condominium lending industry. In Lender Letter LL-2021-14, Fannie Mae and Freddie Mac implemented temporary lending guidelines in 2021 for condominium purchasers that desired to secure a mortgage as was previously discussed in Prepare your Condo for the new Fannie Mae and Freddie Mac Lending Requirements. […]

What Do I Need to Know About My Homeowner Association?

If you own a home or rental property in a condominium or in a housing development where the homeowners share certain common property, you are probably a member of a condominium owners or homeowners association – collectively referred to as a common interest realty association or CIRA.   Read the article………………………..

What Are The Factors Leading To Condos Being Non-Warrantable

If you are a first-timer looking at condos, you may hear someone mention warrantable vs. non-warrantable.  Understanding non-warrantable condos is crucial when considering purchasing a condominium. These properties do not meet the guidelines set by government agencies like Fannie Mae and Freddie Mac, making it challenging to secure financing.    Read the article………………………..

Fannie Mae: The Future of Condo Lending

Fannie Mae remains focused on long-term homeownership sustainability, continuously refining our property and underwriting requirements to help set homebuyers up for success. While homes in condo and co-op projects are a great choice for many consumers – especially first-time homebuyers, who make up a higher concentration of condo and co-op buyers – we are mindful […]

HOA Fees: What To Know Before Buying a Home

An HOA, or homeowners association, is a type of community association made up of all of the homeowners in a particular planned community. HOAs, like condo associations, are responsible for preserving the nature of the community and protecting owners’ property values   Read the article………………………..

FHA-approved condos: What they are and how they work

FHA-approved condos may seem like a no-brainer. They allow you to build equity without having to maintain a home or property. FHA-approved condos are also especially appealing to first-time home buyers, since the credit score and downpayment requirements are often considerably lower than most conventional mortgages.   Read the article………………………..

Fannie Mae’s Secret ‘Blacklist’ of Properties: As Many as 1,700 Condos, Co-ops & HOAs May Be Affected

According to a recent investigative piece by the Orange County (Florida) Register, Fannie Mae is keeping a secret “blacklist” of condominium, HOA and cooperative properties which the federal agency has decreed that lenders should stay away from. Fannie Mae is a United States Government sponsored enterprise whose purpose is to expand the secondary mortgage market. […]

Buyers of Trump-developed condominiums haven’t done so well, new report says

Citing data from the CoreLogic analytics firm, the study found that while the median price for condo sales between 2019 and 2022 rose 38%, the median at Trump-developed properties declined 14%. Not one of the properties the ex-president built outperformed the market where they are located.   Read the article………………………..

HOA not necessary party in title insurance dispute (VA)

Where a title insurer was sued because of a dispute over who holds title to certain real estate, the homeowners’ association who currently owns the property was not a necessary party. The dispute could be resolved based on the various insurance documents and title binders before the court.   Read the article………………………..

Is Your Condo or HOA on the Fannie Mae Unavailable List? (IL)

The Federal National Mortgage Association (FNMA, otherwise known as Fannie Mae) and the Federal Home Loan Mortgage Corporation (FHLMC, commonly known as Freddie Mac) both created new sets of requirements impacting condominium associations.   Read the article………………………..

Fannie Mae’s Secret ‘Blacklist’ of Properties As Many as 1,700 Condos, Co-ops & HOAs May Be Affected

According to a recent investigative piece by the Orange County (Florida) Register, Fannie Mae is keeping a secret “blacklist” of condominium, HOA and cooperative properties which the federal agency has decreed that lenders should stay away from. Fannie Mae is a United States Government sponsored enterprise whose purpose is to expand the secondary mortgage market. […]

Can Your Clients Refuse to Join an HOA?

When you buy a home constructed more recently, there is a good chance it will be part of a homeowners association. The HOA will maintain the community areas and ensure certain standards are followed.  But all this does mean extra fees and more restrictions on what you can do with your home. This might mean […]

B.C. realtor fined $35K for not disclosing $2M in strata building maintenance

A B.C. realtor who failed to disclose to a buyer that a condo building needed $2 million worth of maintenance has been fined $35,000. According to an April 5 B.C. Financial Services Authority decision, Suleman Yasin was working with Sutton Group–West Coast Realty as the lead of a team called, The B.C. Elite Real Estate […]

Moving Into an HOA Neighborhood? Make Sure You Know These 20 Things

Homeowners associations, or HOAs, have seen a huge surge in popularity over the past few decades. Over a quarter of the U.S. population today is part of an HOA, and 67% of newly completed homes in 2021 were part of HOAs, a massive increase over 2011, when only 18% of homes were part of them.  […]

Why Associations Must Be Aware Of Changes To The Marketable Record Title Act (MI)

As discussed in more detail below, the State legislature amended the Marketable Record Title Act (MRTA) in 2019. While many community associations may not be familiar with the MRTA since its provisions historically have not affected community association living or administration, the 2019 amendments make it necessary for community associations to take note now before […]

How to Get on the FHA Condo Approval List

If you want to buy a home but the down payment requirements make this seem out of reach, there are more affordable options. Choosing an FHA-approved condo allows you an easier option to buy with lower credit and down payment requirements.   Read the article………………………..

Are Sellers Required to Disclose Delinquent HOA Dues? (MI)

In Michigan the law is clear as to the duties of condominium associations to provide written statements to purchasers of units located in the condominium regarding unpaid assessments, interest, late charges, fines, costs and attorney fees. However, when it comes to homeowners that own lots in subdivisions governed by a Homeowners’ Association (HOA), the law […]

Common HOA Rules: How to Find Them and What to Know

If you are shopping for a home right now or are planning on doing so shortly, you are going to encounter homeowners associations (HOAs).  In all homeowner’s associations that are rules that must be followed.    Read the article………………………..


When you are considering whether to purchase a house in an homeowners association or a condominium unit, besides the location, location, location of the property, the next big indicators of whether the property will work for you is how much the property will cost you initially and whether there are additional fees that you should […]

What Does An HOA Contingency Mean?

Before buying a home or condo in a planned community, looking for an HOA contingency is essential. But what is a contingency anyway? And is it mandatory in every real estate sale?   Read the article………………………..

Common Interest Community Board Updates Resale Disclosure Fees (VA)

The resale disclosure statutes set forth in the Virginia Condominium Act (“Condo Act”) and the Virginia Property Owners’ Association Act (“POA Act”) establish certain maximum charges that can be assessed for preparing the requisite disclosure documents when an owner sells his condominium unit or lot in a common interest community association.   Read the article………………………..

When ABC, Inc. Buys the House Next Door and Next Door and Well, You Get the Idea

Scott D. Weiss, Esq. of Ortale Kelley Law Firm in Nashville, Tennessee, focused his lens at the Community Associations Institute’s (“CAI”) Annual Law Seminar on a relatively new phenomenon that is fast becoming one of the most important issues for community associations nationwide: the challenges presented by corporate investors owning large portfolios of properties in […]

Guide To Restrictive Covenants In Real Estate

When comparing homes to buy, you may discover that some communities have restrictive covenants in place. These housing rules are most common in condominiums, townhomes, planned communities and subdivisions with a homeowners association (HOA).   Read the Q&A……………………………….

Understanding the HOA Capital Contribution Fee

Several closing costs come with the purchase of a new home. And if the house is part of a homeowners association, one of the costs is the HOA capital contribution. But what is this fee anyway?   Read the article………………………..

Want to Buy a Condo in Canada? Think again!

Canada’s ban on the purchase of residential property by international investors for two years is in effect. Intended to take financial pressure off one of the world’s most unaffordable housing markets, the government hopes to encourage buyers to look at homes as places to put down roots instead of as investment properties, reports the BBC.  […]

The Florida Condo Collapse Has Changed the Lending Landscape (NY)

When a lender provides financing for an apartment purchase or refinance, it is not only vetting the borrower’s financial viability, it’s also reviewing the co-op’s corporate structure, its financials and the physical condition of the building. The lender also asks for insurance information, occupancy makeup, and how many sponsor-own units and rented units there are.  Watch […]

HOA Initiation Fees: What Are They & Do I Have to Pay?

If you’re considering joining a homeowners association (HOA), you may wonder about the costs associated with doing so. One of the potential expenses you may encounter is an initiation fee. This article will demystify HOAs and their initiation fees and help you understand if you’ll need to pay one when joining an HOA community.   Read […]