Q: I owned a condominium and then a house that both had homeowners’ associations. Rules were not enforced, many owners were delinquent with their payments, and it was unpleasant – especially with the section where my house was. I sold both of them and am looking to buy a house that is not part of an HOA. At what point is a real estate agent, or the owner if the house is for sale by owner, required to tell me if the community has a mandatory HOA? When I am told there is none, can I ask for it in writing? Is there some way I can check on my own to verify there is no HOA before I go look at a house?
A federal judge in Manhattan determined that because the agent of a luxury condo building did not comply with the Act, the buyers were entitled to rescind their contract and get back their $510,000 deposit with interest. This decision comes as a shock to many developers and agents nationwide.
This site and any information contained herein is intended for informational purposes only and should not be construed as legal advice. Seek a competent attorney for advice on any legal matter.