If you live in a community in North Carolina or South Carolina that operates with a homeowner’s association and are planning to move soon, be sure to follow these steps to ensure it’s a smooth process!
Before you start packing, inform your homeowner’s association that you’re moving and planning to sell your home. Some communities require this step, so make sure that you don’t skip it.
Moreover, don’t forget to ask about any governing documents your homeowner’s association might require from you once you move out. Again, the sooner you know what these documents are, the easier it’ll be for you to prepare them.
If you have any unpaid balances with your homeowner’s associations, it’s best to settle them as soon as possible. Having debts and liens will make it challenging for you to sell your home and move out from your homeowner’s association.
Once you decide that you’re going to move out of your HOA community, check with the HOA board to know if you have any outstanding debts. Don’t wait until the last minute to make this inquiry as this can result in stress and more expenses.
To ensure that the sale of your home and your move will be as easy as possible, spend some time figuring out the requirements of these processes. For starters, you need to know the requirements set by your homeowner’s association or state when listing a residential property.
Researching about selling fees and requirements is crucial because different homeowners associations have different requirements. For example, some associations will only allow you to move out during certain hours of the day, while others will require you to complete certain paperwork before you can pass the ownership of your home to another person.
Most homeowners associations will mandate a home inspection before moving out from the HOA and transferring the ownership of their property. A home inspection is important because it aims to assess whether your home adheres to the regulations set by the association. For example, some homeowners associations might not allow a specific color for the home’s exteriors or the addition of too many amenities.
If the homeowners association finds any violation during the home inspection, you need to fix the problem before listing your home for sale. This will usually require you to pay for professionals to do minor or major repairs in your home.
Some people don’t like the idea of living in a community governed by a homeowners association because there are plenty of rules to follow and fees to pay. However, it’s your responsibility to inform potential buyers that a homeowners association runs your home as a seller. This will help potential buyers make an educated decision and avoid being caught off-guard.
Additionally, you should also present copies of your association’s governing documents. This will give potential buyers more information about the community they’ll live in and the rules they have to follow once they live in a homeowners association.
You need to prepare important documents before closing the sale with a homebuyer. Generally, these include resale packages and transfer documents. A resale package is mandatory in many homeowners associations because it includes the association’s governing documents.
When it comes to preparing resale packages, your community manager or HOA board can help. Generally, they will prepare the resale packages on your behalf, and you have to hand them over to the buyer.
With the number of steps you have to follow, moving out of HOA communities can be overwhelming. Fortunately, you don’t have to accomplish this process alone, as you can ask for help from professionals to help you.
If you plan to move out from an HOA community soon, be sure to work with your realtor and board to ensure that your move will be hassle-free! Contact us for more helpful information!