In South Carolina, Homeowners’ Associations are often referred to as REGIMES. In Georgia, it often feels like they should nearly all be called by that name or worse.
At closings, I have often heard sellers tell buyers, “Watch out for the HOA. They can be pains in the…” It does seem that most HOAs are fairly even-handed over time with the management of amenities and the enforcement of rules designed to keep the association funded and the properties as presentable as possible. Sometimes they can be a bit overbearing in those efforts, though.
What has become even more of a nuisance of late is how long the HOA management companies can take to send a dues/fees/fines status on behalf of a seller who is selling their home. Recently we have received responses in our office from HOA management companies stating their typical turnaround time for an HOA letter is 2 or even 3 weeks.
On top of that, the vast majority of HOA management companies require prepayment of the inquiry fee for the letter and sometimes the transfer fee as well. Often those fees are several hundred dollars.
Thankfully, the 2017 Georgia Association of Realtors forms are clear as to who should pay these fees (whether or not they are disclosed.) However, be forewarned that as a seller, if you do not disclose these fees, you will have to pay them.
As always, at Ganek, PC we have trained and helpful attorneys and staff to assist you with questions on this or any other topic related to real property purchases in Georgia.