It’s not uncommon for buyers to hear about CCRs for the first time at the closing table.
I don’t think that’s a good idea, so my standard practice is to provide my buyers with a copy of the CCRs (Covenants, Conditions, and Restrictions) upfront to avoid surprises after we get into escrow.
When I do so, I’m often asked “What’s a CCR?”
CCRs are one of the more arcane aspects of owning a home in a subdivision with a HOA (Home Owner Association) and are often used in place of counting sheep when you have insomnia.
They’re usually a thick, boring document, drafted by an attorney (one of those guys who call a 2,000-page document a “brief”), full of confusing legalese.
In other words, CCRs are “the rules” that explain what is allowed and what isn’t in a subdivision.
That’s why you should look them over before signing your offer to purchase a home.
Here are a few things to look for:
- How much are they now?
- How can they be increased?
- How much can they be increased?
- Is the HOA in sound financial condition? (ask for a copy of their current financial statement)
RV Storage On Your Property
- Can you keep your RV on your lot?
- Does your RV have to shielded from street view?
- Does your RV have to be stored in its own garage?
- How long can someone live in a RV on your property?
- How long can you have your RV on your property? (before and after RV trips)
- How many pets can you have on your property?
- What kind of pets can you have on your property?
- Must you keep your pets on leash?
- Can you have an outside antenna on your property?
- If so, what size antenna is allowed?
- Where can it be installed?
- Must it be pre-approved by the HOA before installation?
- Is on-street parking allowed? (be sure to check city ordinances too)
- How many cars are allowed to be parked on your property?
- Must your cars be parked inside your garage?
This is just a sampling of things to consider.
Do your homework and understand the CCRs before you make that buying decision!Inside Real Estate Print This Post