MAKE SURE YOU READ YOUR CC&R'S
Wednesday, March 14, 2007
Submitted by Sandy Morley:
I have been working with a client from California who is currently living on 2 acres. We have been actively looking for homes in Gresham, Happy Valley and Oregon City. They want to live in a established neighborhood and downsize to a 1/4 acre lot as they are tired of taking care of so much land.
Last week we found the "perfect house" and our offer was accepted. After going through the process of disclosures and the inspection everything was going along smoothly until we received the CC&R's. The sellers had disclosed that there were no CC&R's when in fact the title company discovered there were CC&R's presenting a complicating situation.
The CC&R's stated that no utility trailers could be parked in the driveway and my buyer has a landscaping business that would require the need to park their trailer on the property. Currently there are other homeowners in the neighborhood who park trailers and RV's in the driveways without complaints...my buyers issue is if one person complains after they move in then the homeowners association will be required to have the owners comply - which would cause a problem for my buyers.
Some sellers don't seem to know that they have CC&R's so buyer beware and don't assume until you have your Title Report from the escrow company.