In the May 24th article with respect to not paying HOA dues in NAR’s Realtor.com magazine (see note 1), subtitled “Can this happen to you,” the author advises readers and Realtors, in part,
If this story has you viewing HOAs in a harsh (and terrifying) new light, we don’t blame you. And while the laws vary by state, it turns out that in most cases, HOAs really do have the power to foreclose on your home for unpaid dues, as do condo owners associations.
Is the national Realtor organization realizing that it has a responsibility and obligation regarding disclosure of facts about HOA life? I know that there may be cop-out laws saying that the real estate agent shouldn’t talk about things they don’t know. Is that why state Realtor organizations and cooperating real estate departments intentionally fail to provide the facts about HOA life in the mandated educational classes and continuing classes? I say “facts” because it is common knowledge that there are serious defects with the HOA legal scheme that even rise to questions of constitutionality.
I ask, “What was done prior to the sale to inform the buyer of HOA negatives in keeping with the law regarding dealing fairly with all parties?” Very, very little. It’s disgraceful! The regulation of real estate agents is not to protect the agents, as is easily concluded from the positions taken by state real estate departments, but the consumers.
This point of view may be distasteful to the many agents who are honest and have the highest integrity, but it’s a failure of the real estate industry’s leadership to perform and protect the consumer. (I was a licensed agent for over 10 years.)
Note 1. “Homeowner Evicted for Not Paying HOA Dues: Can This Happen to You?”, Judy Dutton, Realtor.com, May 24, 2016 (http://www.realtor.com/news/trends/evicted-for-not-paying-hoa-dues/).