Blog

By Vivian X. Tran, Esq.

This article first appeared in the Fall 2021 Issue of The Communicator here.

Since the pandemic, followers of the real estate market will notice that the housing market is booming. There are not as many sellers as there are buyers, so the competition is through the roof. Many potential buyers are looking to buy their next homes within an HOA. In the Bay Area, even though many homebuyers waive all contingencies – against my advice as both an attorney and real estate agent – there are still a few conducting investigations (especially for townhomes or condos). Corresponding to the increase of competition to buy homes is an exponential increase in the number of questions from real estate agents and mortgage/escrow companies that are directed toward an HOA and its agents. What should the board of directors and the HOA’s manager be aware of? What should they do in certain situations?

The first thing to understand is that the HOA has...