LAS blog VEGAS

Mistake #6 Buyers don’t review the HOA documents.
If you are purchasing a home with an association you have to read the documentation you receive. In the Las Vegas area there are usually CC&R’s, By-Laws, Rules & Regulations, financials, a statement of the fees and a statement of any pending litigation. NEWS FLASH…Not all associations are created equal. Don’t assume that the rules are the same from one association to the next. I just read some CC&R’s that said you could have 2 cats but no dogs, so what’s going to happen to Fido if you purchase there? Taking your dog to the pound or moving is not an easy decision. Look at the financials, they tell you if there’s any extra money or if you are short and any day the fees might be raised. I guess a part time job wouldn’t be so bad, would it?!?! Make sure you check on the litigation, it could affect your loan and insurance. Buying a home is much more than just picking out the pretty one, you’ve got to do some work! Grow-up, be an adult, do your homework, don’t skip this class or it will cost you! Need some help? Contact me and I’ll help lead the way in your next purchase!

This entry was posted on Wednesday, August 8th, 2007 at 10:27 am and is filed under Home Buying Mistakes. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.