Moving is never an easy process, no matter where you live. From finding the right buyer and enduring escrow to packing up your belongings and coordinating move times, it can be an arduous process that leaves even professional movers unconfident. If you’ve decided to move to a different neighborhood or you’re planning to leave Tacoma altogether, there are some additional steps that will need to be taken before selling your home if you live within an HOA. Luckily, as an HOA community management firm with more than 30 years of industry expertise, we’re here to help you figure out exactly what you need to do before moving out of your HOA.
Inform Your HOA
Before you begin the process of listing your house for sale and searching for buyers, you’ll need to inform your HOA that you’re planning to move. Each HOA will likely have a unique procedural requirement for officially informing them, so it’s best to check your governing documents for any guidance on how to do this. Once they are informed, your HOA board can provide you with information about moving out that is specific to your community association. If you have any questions about moving out of your HOA, this is a great time to ask them before diving into the process.
Learn About Any Selling Requirements & Fees
Virtually every HOA has requirements or fees associated with selling your home. Selling requirements can range from a home inspection to a transfer document submission. There may also be special moving hours that you need to be aware of and/or schedule ahead of time. Additionally, there will likely be a fee for transferring ownership of your home. This can be a flat fee or an amount based on the selling price of the property, so be sure to find out all of this information in advance to be well prepared for what to expect.
Arrange for a Compliance Inspection
Although it is between the buyer and seller to arrange a home inspection, many HOAs require the seller to arrange for a compliance inspection as well. A compliance inspection is often conducted by the HOA’s architectural review board or management company, and they will assess the home to ensure that it is in compliance with the community’s CC&Rs. If there are any parts of the home that do not comply with community guidelines, such as a paint color or landscaping choice that isn’t permitted, this will need to be rectified before the seller can transfer ownership.
Disclose Your HOA to Potential Buyers
In order to ensure that you find the right buyer for your home and that escrow goes smoothly, it’s strongly recommended (and often required) that you disclose your HOA to any potential buyers. Concealing this information could result in the failure to sell due to issues with the HOA’s sale terms, the buyer’s bank loan, or other factors. Although being part of an HOA may turn away some buyers, it will attract many more and will help make sure that everyone is on the same page. Your sale needs to be completed according to your community association’s terms, and the buyer’s bank will likely need to know the cost of monthly dues before approving their mortgage loan.
If you’re ready to move out of your current Tacoma community, make sure that you know exactly what you need to do to make the move as smooth and painless as possible for everyone. If you have any questions, your HOA community management firm will be able to answer any and all questions relating to rules, regulations, and fees associated with moving out. To get in touch with The Management Trust regarding your Tacoma HOA, give us a call at (243) 472-0825. We have become an industry-leading HOA community management firm over the past 30 years because we consistently put our community members at the forefront of everything we do.