Recently a client called from a sale nearly 13 months ago. He had waited thru the process of a Short Sale and purchased a great property for about half the price..deep corner lot with a Casita located in the back corner..backed up to a school/park. On the day of signing he and his wife anxiously went thru the paperwork, gave their check to the closing officer at the Title company and proudly took possession of their property in this lovely gated community of only 25 houses. HOA certs were provided as were all the rules etc..he laughed and said he would “read them in the bathroom”..Well..now he is upset because he can’t use the Casita for a permanent residence for his not to friendly mother-in-law. The HOA is enforcing the law and the rules and are threatening legal action as the mother in-law has been voicing her residence to all the neighbors as well as all of her son-in-laws foibles..so, he cannot deny she lives there! In his frustration he called the HOA president and me..both reminded him of the law, rules and regulations that he initialed and signed. Needless to say..he is NOT HAPPY! I read to him from his file..where his signature was emblazoned..”The CC&R’s become a part of the title to your property. They bind you and every future owner of the property whether or not you have read them or had them explained to you. By purchasing a property encumbered by CC&Rs, you are agreeing to limitations that could affect your lifestyle and freedom of choice.You should review the CC&Rs and other governing documents before purchasing to make sure that these limitations and controls are acceptable to you..” Unfortunately, the Short Sale process became very painful as in his case..it included a mother-in-law who will have to move INTO his house!
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Short Sale Blog, Short sales for buyers
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Important to read your resale package before signing. This is a good example of how a rule can affect your enjoyment of your new home. Nice read.