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Why Reviewing CC&Rs Before Buying a Home is Essential

Edie Israel

After years of executive sales and marketing experience as well as entrepreneurial success, Edie entered into the real estate market of Southern Calif...

After years of executive sales and marketing experience as well as entrepreneurial success, Edie entered into the real estate market of Southern Calif...

Oct 24 3 minutes read

Reviewing CC&Rs and other homeowners association documents is laborious, but if you are considering buying a home, it's a critical part of the process. Purchasing property in a planned development can come with many perks, such as access to exclusive amenities and gated security. But it also comes with a homeowner's association and its rules, which means that reviewing CC&Rs before closing escrow is imperative.

What are CC&Rs?

CC&Rscovenants, conditions and restrictionsare rules made by the homeowners association (HOA) of a planned development. Reviewing these and other HOA documents is an important step in your journey to own property, because the association's rules may affect your purchase decision. You may love a particular home or condominium, but if the HOA regulations are not agreeable, you may want to think twice. HOA documents are legally binding, so your property will be subject to them regardless of your opinion of the rules. Failure to comply can result in substantial fines, liens against your home and potential legal action against you.

Why CC&Rs are Important

HOA covenants are designed to maintain a residential community and keep property values high. Some common regulations, such as those regarding lawn care or loud music at late hours, can be highly beneficial. Reviewing these rules with your Realtor® or a legal professional is crucial to a complete understanding of what will be expected of you as a property owner. You need to know, for example, if you cannot park your boat in the driveway or if you must landscape with certain types of trees and shrubs. Most important, you need to know this information before finalizing the sale, in the event you will be unwilling or unable to comply.

What Else Should I Look for?

The CC&Rs for a planned development also will contain information about the HOA's financial stability. These documents will describe the fees for routine area maintenance and any possible special charges for larger community repair projects. They also will state the fines for rule infractions, as well as procedures for contesting a fine or sanction. Reviewing these documents will also arm you with the knowledge of how the community regulations could be changed in the future. You can, as a homeowner, participate in the HOA's governing, in order to help develop agreeable covenants and restrictions.

If you plan to purchase a home or condominium in a planned development in the Yorba Linda area, contact the professional Realtors® of the Edie Israel Team to learn more about the importance of reviewing CC&Rs before the close of escrow.
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