HOA's and Single Family Residences when property is subject to a mandatory Property Owners Association. 10-19-2018

In this week's video, Dawn addresses why early distribution of the Subdivision information defined under the Addendum for Property Subject to Mandatory membership in a Property Owners Association is important and beneficial for both Buyer and Seller.

Joi McKinney
about 1 year agoOctober 19, 2018
If sellers order it prior to an offer and the listing stays on the market an extended time, ie. >90days will the seller have to pay to have this ordered again? Some are expensive and some are not so bad in my experience.
Dawn Moore
about 1 year agoOctober 23, 2018
The time frame for only having to order an update is 180 days.  So if 90 days old and Buyer wants an update, Buyer pays for it, if you check A(3) of the Addendum.  The HOA can only charge a reasonable fee for the update.
Anonymous
about 1 year agoOctober 19, 2018
Yes I agree with Joy I had sellers order prior to getting offer and seller had to pay to get a new certificate because they are only good for 90 days.
Blair McCartney Nash, Senior Counsel, Allegiance
about 1 year agoOctober 19, 2018
Hi Joi, the Subdivision Information is good for our purposes for 6 months. This is because we can order an updated resale certificate if needed within that time without having to re-order the entire Subdivision Information. A POA is required by the Texas Property Code to provide an updated resale certificate upon request (which may be for a reasonable fee, but without requiring the purchase of the entire Subdivision Information), but only if the request for an updated resale certificate is made within 180 days of the date a resale certificate is issued along with the Subdivision Information. So there may be a fee for an updated certificate, but the POA cannot require that you pay for the whole Subdivision Information again for 6 months.  Additionally, there is no specified time as to how long a resale certificate is "good." An HOA's resale certificate may state that it is only "good for 60 days," but that is a little misleading. The resale certificate simply must have been prepared within 60 days of the date it is delivered to a requesting party. So if dues are owed every month, it may not even but up to date as to the status of dues during that 60 days. Please let me know if you have follow up questions- bnash@allegiancetitle.com
Dena Smith
about 1 year agoOctober 25, 2018
So this video is a follow up to the last one.... can't find the last one - there only seems to be one recent video on HOAs.... this one.
Anonymous
about 1 year agoOctober 25, 2018
Hi Dena, The first video was from October 12th.  You should be able to find it in the archives on the media center page where you watch the weekly video.  Just scroll down and you should see it there!  Thanks for watching.
Dena Smith
about 1 year agoOctober 25, 2018
I found it but at the exact moment I was trying to view it there was not a clickable link. that has been resolved now - thanks!
Your comment