Learn everything you can about the homeowners association before you buy into a
development governed by one. The association's financial, political and legal conditions are
very important to your investment and quality of life.
When run properly, homeowners associations maintain the common grounds and keep
civility in the complex. If you follow the rules, the association should not intrude on your
privacy or cost you too much in association dues.
Poorly managed associations can drag down property values and make living there difficult
for residents. Start by studying the association?s covenants, codes and restrictions, or
CC&Rs, and find out if you can live by them. For example, if the rules prohibit loud music
after a certain hour and you like to play your CDs late at night, this may not be the place for
you. Don't move in thinking you can get away with violating the rules or change them later
because you may find yourself in turmoil with determined neighbors firmly in control of the
association board.
Find out all you can about the association's finances. Beyond reviewing the budget, talk to the
association treasurer and find out if dues are expected to increase and if any special
assessments are planned. Ask if special inspections have revealed problems with roofs or
plumbing that may cause a dues hike or special assessment later on.
Call and meet with the association president. If you are the type of person who despises
intrusions into your private life and the president seems more interested in gossip about the
residents than maintaining the property, this may not be the right condo complex for you.
Speak with residents to get their views on the association's finances, its property manager,
how it operates and any politics. Associations are volunteer organizations with elected
boards, like a mini-government, so politics can enter the picture and spoil a good thing.
Lastly, take some time to understand how homeowners associations are organized and how
they conduct business. Like all real estate investments, the more you know the better off you
are.
Property Value
What's a House Worth?
A home ultimately is worth what someone will pay for it. Everything else is an estimate of
value. To determine a property's value, most people turn to either an appraisal or comparative
market analysis.
An appraisal is a certified appraiser's estimate of the value of a home at a given point in time.
Appraisers consider square footage, construction quality, design, floor plan, neighborhood and
availability of transportation, shopping and schools. Appraisers also take lot size, topography,
view and landscaping into account. Most appraisals cost about $300.
A comparative market analysis is a real estate broker's or agent's informal estimate of a
home's market value, based on sales of comparable homes in a neighborhood. Most agents
will give you a comparative market analysis for free. You can do your own cost comparison
by looking up recent sales of comparable properties in public records. These records are
available at local recorder or assessor offices, through private real estate informatio
companies or on the Internet.
Delivery Day
The following information and tips will help make sure your delivery day goes as smoothly as
possible.
If you're moving across the country, there's a good chance you'll arrive at your new home ahead
of your belongings. Don't panic. Many factors affect delivery time, and moving companies
generally won't guarantee a specific delivery date. Your moving company representative will call
to give you a spread of two specific times between which your delivery should take place.
Unloading and Taking Inventory
Ask for the driver's inventory sheets; as each box is carried into the house, have the
workers call out the box numbers so you can check them off
When the movers have finished unloading (and, if you purchase the service, unpacking)
your boxes, you will be asked to sign the inventory sheet; check it carefully before
signing
Do not sign any delivery papers until you have checked that all boxes and items have
been received. By signing the delivery receipt, you acknowledge that you have received
everything and agree with the driver as to the condition of your belongings
Make a written note of any missing boxes or damage to boxes, furniture or other items
If you suffer property damage or damage to your automobiles, you must note the
damages on the inventory sheet and call your moving company immediately
Unpacking
For an additional charge, moving companies will unpack your boxes, including taking out your
belongings, placing them on flat surfaces (e.g., floors, countertops), and then removing the
cartons from your home.
Insurance Claims We hope you won't need to file any insurance claims for damaged goods.
But if you do, here's how to go about it:
If damage occurs, call your moving company immediately to get the necessary forms to
file your claim(s)
Keep your damaged items; they must be available for inspection by the claims adjuster
You must file any and all claims involving interstate moves within a specific number of
days after the delivery date, depending on your insurance policy
If your belongings are first delivered to storage and then to a temporary residence, you
must file any claims within a specific number of days or before you leave that residence,
whichever comes first
