HOA/POA. lets hear your stories!

[100Acre]

I just watched a bunch of videos on the nightmares of buying into an HOA. If there are any heavily associated with this property I may just go ahead and back out. Damn this is frustrating

 

[Montecresto]

I just watched a bunch of videos on the nightmares of buying into an HOA

Yeah, I’ve got my own. You should know that a property encumbered with HOA/POA, covenants and restrictions, road maintenance dues, etc., are harder to sell.

 

[Hondasxs]

Man uses nude mannequins to send message to 'nosey' neighbor

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[Neohio]

POA?
Do we really need to hear @JTW stories?

 

[sharp]

I just watched a bunch of videos on the nightmares of buying into an HOA. If there are any heavily associated with this property I may just go ahead and back out. Damn this is frustrating

HOA dues and stupid rules are what turn most people away. Then there is the HOA president that has nothing else better to do than to keep a eye on what you are doing just so he can tell you what to do on your own property. That would be in a stricter neighborhoods though. There are some good that HOA restrictions like restricting moving a single wide into a neighborhood with 3500sf houses or having livestock on less than 10 acres. If your property address is on a main road you should be fine. But if you turn onto your road with a entrance or sign of the neighborhood with 2 designated entrances or a dead end road there may be restrictions. Also there could be very old restrictions that have been grandfatherd in like never to be developed, no pig farms, mining etc from previous owners. Also check that the mineral rights go to you as the buyer. I dont know the laws there but in Tennessee if you dont get the mineral rights with the land you wont own the oil or gold that could be discovered. Lol

 

[100Acre]

So I just found out from my realtor that there are no HOA rules applying at this property. But there are CC&R rules that do apply.

 

[Montecresto]

HOA dues and stupid rules are what turn most people away. Then there is the HOA president that has nothing else better to do than to keep a eye on what you are doing just so he can tell you what to do on your own property. That would be in a stricter neighborhoods though. There are some good that HOA restrictions like restricting moving a single wide into a neighborhood with 3500sf houses or having livestock on less than 10 acres. If your property address is on a main road you should be fine. But if you turn onto your road with a entrance or sign of the neighborhood with 2 designated entrances or a dead end road there may be restrictions. Also there could be very old restrictions that have been grandfatherd in like never to be developed, no pig farms, mining etc from previous owners. Also check that the mineral rights go to you as the buyer. I dont know the laws there but in Tennessee if you dont get the mineral rights with the land you wont own the oil or gold that could be discovered. Lol

Getting mineral rights with land anymore is very rare. Though one property that I bought recently was offered with a mineral right option which turned out to be about the same price per acre as the selling price....

 

[Montecresto]

So I just found out from my realtor that there are no HOA rules applying at this property. But there are CC&R rules that do apply.

You’ll want to know what those are and what the amendment process is. Also, who built the roads throughout the subdivision and who’s on the hook for maintenance and expense.

 

[sharp]

Getting mineral rights with land anymore is very rare. Though one property that I bought recently was offered with a mineral right option which turned out to be about the same price per acre as the selling price....

It could be a regional thing. I never buy property without the mineral rights. I usually get them signed over.

 

[Montecresto]

So I just found out from my realtor that there are no HOA rules applying at this property. But there are CC&R rules that do apply.

Also, ask if those are CC&R’s attached to the properties by the developer, or just standard county rules. The later are applicable to all rural properties, are unavoidable, make sense, and are absolutely not enforced.....

 

[Montecresto]

It could be a regional thing. I never buy property without the mineral rights. I usually get them signed over.

That may well be the case. I’m in oil and gas country and the big companies bought them all up long ago.

 

[100Acre]

From what I can glean a little off the Internet there’s not much difference between CCR and HOA

 

[Hondasxs]

It could be a regional thing. I never buy property without the mineral rights. I usually get them signed over.

Well..
This is costing my family tons of $ right now.
Rights for 750 acres was sold for 3,500 back in 1920 ish. Now we are being bought out for a lithium mine. Family would have been rich.

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[Montecresto]

From what I can glean a little off the Internet there’s not much difference between CCR and HOA

Oh there’s a difference, one is the rules the other the enforcement body.

 

[100Acre]

I’m backing out of this property. There are way too many flags popping up. This is an email my realtor just sent me.

1. Summary first: It is my opinion we should back out of this transaction and continue the search for you. Too many questionable facts are popping up everyday. I'm afraid of the ones we HAVEN'T found yet. After you sign the documents, you will either live with those unknown factors or get a lawyer...
2. MLS Listing did not indicate CCRs, as is required by law to disclose.
3. MLS Listing did not indicate the easement for the Bald Eagle nesting site, as is required by law to disclose.
4. MLS Listing did not indicate the 2 existing wells on the property that you are not permitted to tap into or use.
   1. I did not complete the research into using these wells yet since we have so many other questions to answer already....
5. The listing agent (Casey) has not been transparent in answering questions. Hiding, lying, omitting = whatever opinion you have, it has not been a transparent transaction so far.
6. I just received a THIRD amendment for the CCRs for the first time (see attached), dated 2016, that was not sent to us during all these counter offers and emails. It is not "attached" to the parcel, but rather to the subdivision and was not sent to us. Suspicious in my opinion.
7. The seller said he didn't remember that CCRs were on the property, but the third amendment from 2016 has his signatures on it from only 2 years ago.

I think that's enough to be worried. Like I said, once you sign the closing documents your due diligence is over. You own it. Good, Bad or Ugly... I think your motivation to get out of NC and into ID has brought you to the point of lowering your requirements. At first glance, this property is great, but after our research and the back-and-forth with Casey and Jacobson = I do not feel confident in recommending this property for you. Too many omissions and not enough transparency.

 

[100Acre]

I’d like to keep this thread open though as it seems there is still much to learn.

 

[Hondasxs]

Yep... Drop it before it pokes you in the rear.

 

[Mudder]

Realtor dealings in the past seemed to be more about their commission than client. Sounds like you got a decent one. ..Patience Grass Hopper, You will Gnome it when you see it.

 

[sharp]

I’m backing out of this property. There are way too many flags popping up. This is an email my realtor just sent me.

1. Summary first: It is my opinion we should back out of this transaction and continue the search for you. Too many questionable facts are popping up everyday. I'm afraid of the ones we HAVEN'T found yet. After you sign the documents, you will either live with those unknown factors or get a lawyer...
2. MLS Listing did not indicate CCRs, as is required by law to disclose.
3. MLS Listing did not indicate the easement for the Bald Eagle nesting site, as is required by law to disclose.
4. MLS Listing did not indicate the 2 existing wells on the property that you are not permitted to tap into or use.
   1. I did not complete the research into using these wells yet since we have so many other questions to answer already....
5. The listing agent (Casey) has not been transparent in answering questions. Hiding, lying, omitting = whatever opinion you have, it has not been a transparent transaction so far.
6. I just received a THIRD amendment for the CCRs for the first time (see attached), dated 2016, that was not sent to us during all these counter offers and emails. It is not "attached" to the parcel, but rather to the subdivision and was not sent to us. Suspicious in my opinion.
7. The seller said he didn't remember that CCRs were on the property, but the third amendment from 2016 has his signatures on it from only 2 years ago.

I think that's enough to be worried. Like I said, once you sign the closing documents your due diligence is over. You own it. Good, Bad or Ugly... I think your motivation to get out of NC and into ID has brought you to the point of lowering your requirements. At first glance, this property is great, but after our research and the back-and-forth with Casey and Jacobson = I do not feel confident in recommending this property for you. Too many omissions and not enough transparency.

Hes a great agent to have. Sounds like hes actually working for you!

 

[NTCPrezJB]

I’m backing out of this property.

Sorry to hear the disappointment, but it sounds like sage advice from your realtor sir. I'm glad to see them looking out for you like this.