If you live in a gated community and need to move, you may wonder, “Can an HOA prevent me from selling my house?” Alan from Pyramid Properties helps homeowners find fast and fair solutions to selling difficult properties. If you’re searching, “sell my house fast in Memphis,” you won’t find a better option.
How Selling a Home With an HOA Differs From Traditional Sales
Selling a home that’s part of a homeowners’ association (HOA) requires extra effort on your part. In particular, it has much stricter disclosure requirements.
For example, you must provide the organization’s governing documents to the buyer, including the bylaws and payment schedule. This allows the prospective buyer to make an informed decision and enter into a valid contract.
Some homeowners’ associations require transfer fees, which means you’ll have to negotiate whether the buyer or seller pays it. Ask your HOA for a resale certificate, which should include most of the necessary information.
How HOA Restrictions Can Hinder a Home Sale
An HOA cannot directly prohibit the sale of a home. However, they can legally delay or complicate the process using the following methods.
The Organization Can Require You To Pay Outstanding Dues
Homeowners’ associations require monthly dues that they use to improve the neighborhood and pay other expenses. If you’ve missed payments, they can prevent you from selling your home until the outstanding balance is paid. The terms of the contract you signed when you purchased the home give them the right.
Unresolved Violations May Delay the Property Sale Approval
If you’re asking, “Can an HOA prevent me from selling my house?” consider whether you have unresolved violations. The following five problems are the most common reasons the organization can delay the sale:
- Unauthorized exterior modifications, such as paint colors or structures
- Maintenance neglect, including overgrown lawns and broken fixtures
- Parking violations with unpaid tickets
- Unresolved noise violations
- Exceeding pet limits or ignoring leash laws
A Lack of Credibility From the Buyer May Complicate the Process
If the organization examines the buyer’s credentials and finds them lacking, it may request that you find a new interested party. If the person misrepresented their assets or committed fraud, the organization may not allow the sale. Finding a reputable buyer avoids these issues.
Why Selling to a Reputable Cash Buyer Makes the Process Easier
To prevent problems with the sale, consider finding a reputable cash buyer. You want one who acts like a partner and has your interests in mind. Read the reviews and confirm they have the following qualities:
- They make fair cash offers.
- The company doesn’t require you to pay closing costs or outstanding HOA dues.
- They can close in seven to 10 days.
- The company has many positive reviews.
Reach Out to Alan From Pyramid Properties Today
Now that you know the answer to “Can an HOA prevent me from selling my house?” don’t delay calling Alan from Pyramid Properties. Whether you’re navigating a job relocation, divorce, or other life transition, he makes the process easier. You’ll benefit from a fair cash offer and can close within seven days.
To obtain an offer within 24 hours, call 901-504-5555.