Welcome to Auto Related Real Estate
Monday, June 30th, 2008Hello!
This is a blog designed to bring to you information about real estate but geared towards the auto enthusiasts. What does that mean? My intention is to bring you information about what to consider when purchasing a home with a big garage and or adding onto an existing home/garage. Please understand that any of the information you will receive through this blog also requires you to take responsibility to check into your own city/town zoning, HOA (home owners association), CCR’S( covenants, conditions and restrictions) and local rules/regulation and of course consult a lawyer.
I would also like to hear your specific questions about real estate and thoughts on any and all of the topics that I speak about. With all that said lets start this first blog with:
Most but not all property owners have and or will receive a copy of the CCR’S and/or have a HOA (home owners association) documents when purchasing a home here in Arizona. When thinking of adding onto an existing home and/or garage or building a new structure these documents are a few things that you should consider first. When looking to purchase a home and you need mulitple parking checking into your parking options to see if you must park all vehicles in the garage. OK, the garage is large enough for your four to five collector cars but can your every day vehical be parked in the driveway for extended length of time? Can you park a vehicle on the side yard? Must the park vehicle be registered? One of the first places to start is your CCR’S.
Covenants, Conditions and Restrictions (”CC&Rs”) ( from www.AARonline.com, Buyers Advisory)
The CC&Rs are recorded against the property and generally empower a homeowner’s association to control certain aspects of property use within the development. By purchasing a property in such a development, the buyer agrees to be bound by the CC&Rs. Thus, the CC&Rs form an enforceable contract. The association, the property owners as a whole, and individual property owners can enforce the contract. It is essential that the buyer review and agree to these restrictions prior to purchasing a property.
The ADRE advises: “Read the deed restrictions, also called CC&Rs (covenants, conditions and restrictions). You might find some of the CC&Rs are very strict, especially those addressing landscaping, RV parking, play equipment, satellite antennas, and other common amenities — particularly if the subdivision is governed by a homeowner’s association.”
www.azre.gov/PUBLIC_INFO/Documents/Property_Buyer_Checklist.html
A short but informative document on the purpose and effect of CC&Rs may be read at www.realtor.com/BASICS/condos/ccr.asp. Buyers should consult legal counsel if uncertain of the application of particular provisions in the
What about the CC&Rs?
CC&Rs are the governing documents that dictate how the homeowners association operates and what rules the owners must obey. So, you’ve decided to buy a condominium. Here are some facts you should know about homeowners association documents: 1. What are CC&Rs? The covenants, conditions and restrictions (CC&Rs) are the governing documents that dictate how the homeowners association operates and what rules the owners — and their tenants and guests — must obey. These legal documents might also be called the bylaws, the master deed, the houses rules or another name. These documents and rules are legally enforceable by the homeowners association, unless a specific provision conflicts with federal, state or local laws. 2. Suppose I don’t like the rules. Can they be changed?Most rules are easy to accept, but some may strike a nerve. Such issues as pets, parking spaces, recreational facilities and subleasing can prove quite controversial. The procedure for changing the rules should be explained in the governing documents. A majority vote or, in some cases, a super-majority, will be required. Changing existing rules is rarely easy. “Attendance is always a problem at [association] meetings,” warns Michael J. Wolfe, president of Midboro Management, Inc., a residential property management company in New York City. “There is always a group of people who care and show up and another group [of people] who do not care and say they are too busy. A lot of times, there isn’t enough attendance at a meeting to change a rule, even if 100 percent of the attendees [want to change it].”
3. What are the consequences of breaking a rule? Penalties might include fines, forced compliance, a lawsuit by the association, the misery of being at odds with your neighbors and emotional distress. For example, suppose an owner attempts to sneak a large dog into a condominium unit despite a rule specifying a maximum weight for pets. He or she might be forced to get rid of the dog in addition to facing fines and a lawsuit. Read the rules thoroughly before you buy an association-governed home.
4. What are the most important provisions in the governing documents? Review the association’s operating budget and make sure the complex isn’t losing money. Ask for copies of any engineering, architectural or structural inspection reports. Pay attention to provisions governing the election of board members, subleasing and restrictions on remodeling your own unit.
5. Do I need an attorney to explain the CC&Rs to me? It’s always a good idea to seek legal counsel if you have questions about the governing documents or rules. Wolfe suggests reading the documents yourself and preparing a list of questions, then asking your attorney to interpret anything you don’t understand.
Denise G. Ham, REALTOR
Sonoran Lifestyle Real Estate
480-213-1613 Direct