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Getting Your Home

for different reasons. Governments want to control growth and developers want to preserve values. Therefore, depending on the neighborhood, there may be a set of documents filed with the governing authority by the developer that establish certain guidelines for that neighborhood. These are generally called the covenants, conditions and restrictions (CC&Rs) for that neighborhood. Often these documents will incorporate a set of architectural guidelines, which may be more or less restrictive than local building codes. If you are buying a condominium or townhouse, the documents are called the declaration and bylaws. Because this type of property is typically managed by a homeowners’ association, there will also be a set of rules and regulations. The association collects dues, the amount of which it sets from time to time, and will have a set of financial documents showing how well it has managed the condominium complex. All of these documents should be provided to you along with the title documents. If they are not, have your RealtorŽ determine if such documents exist, and if so, have them get copies for you; it is important for you to review them. The restrictions imposed by these documents may be perfectly acceptable to you. For example, some neighborhood associations will not allow anyone to have junk cars parked in front of homes and will not allow you to conduct auto repairs on the property. The restrictions were designed to ensure only certain types of people would live in the neighborhood—those who like the restrictions. If you happen to be a backyard mechanic, this type of neighborhood may not work for you. Some associations restrict the size and number of household pets. Some condominium associations insist anything stored on your deck (like bicycles) not be visible from the street. All of these restrictions and requirements should be reviewed by the buyer during the title review period. For example, an RV owner would be very 121

Profile for Linda DeVlieg Real Estate

How to Make Your REALTOR Get You the Best Deal - Albuquerque, New Mexico edition  

A guide through the real estate purchasing process - co-authored by Linda DeVlieg and Ken Deshaies

How to Make Your REALTOR Get You the Best Deal - Albuquerque, New Mexico edition  

A guide through the real estate purchasing process - co-authored by Linda DeVlieg and Ken Deshaies

Profile for lindadev