Carissa Maxwell and Kellen Hoskins, from the Maxwell Group at Bloomtree Realty, talk about Homeowner’s Associations, aka HOA’s.
Let’s talk about terminology to start:
HOA: Homeowner’s Association
CC&Rs: Conditions, Covenants & Restrictions
"What’s really important is that you understand what you’re getting into," explains Carissa.
Questions to ask when buying a house:
- How does the HOA work in this community?
- What is the value of the HOA?
- What kind of fees will there be?
- What does the payment to the HOA include?
- What maintenance does the HOA agreement include?
- Who is running the HOA?
- How long are CC&Rs in place?
- What happens if you don’t pay your HOA fees?
Carissa and Kellen discuss these questions and more as they talk about HOAs in Arizona.