I've sold quite a few condo and town home properties since I have been a Realtor here in the Silicon Valley. When it is my listing, I always make a point of it in ordering the homeowner association documents right away. Often times the docs I receive are hundreds of pages. Legally I have to make these documents available if the property is my listing for any potential buyers. If condo or town home is someone else's listing, I always make sure the listing agent sends me their most current copy, and I insist that my buyer takes the time to read them. For instance, many HOAs have restrictions on what size pet you can have, and if you have an upper floor unit, you can't have hard wood or laminate flooring.
"The Bylaws are perhaps the most important part of any condominium association documents. They are, in effect, the association's bible. These Bylaws should spell out, among many other items, what authority the Board has, what responsibilities unit owners have, and whether there are any limitations on spending power by the Board of Directors."
CONDO OWNERS MUST READ THEIR BYLAWS
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