From NAR
NAR’s Consumer Guide to Homeowners Associations (HOAs) is a valuable resource for buyers considering a home in a community governed by an HOA.
The guide explains what HOAs do, how they help maintain common areas and neighborhood amenities, and why homeowners are required to pay association fees. It also covers important topics such as HOA rules, covenants, conditions and restrictions (CC&Rs), special assessments, and the types of regulations that may affect homeowners, from exterior modifications to parking and pet policies.
For REALTORS®, this guide can help clients better understand the responsibilities that come with living in an HOA community. Reviewing HOA fees, rules, and financial obligations before making an offer can help buyers make informed decisions and avoid surprises after closing.
Read the guide:
https://www.nar.realtor/the-facts/consumer-guide-homeowners-associations