Dennis Swartz, MBA, GRI...experience counts! (Full Circle Property Management)

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Rainmaker
1,372,915
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

Yes I do and yes, it's a problem that you state: Listing agents do not know or find out what's included in the HOA fees quite often. Hell, some don't even put the name of the association or park in the MLS.

This is why I do, because I know the easier it is to buy, the easier it is to sell.

Apr 15, 2018 04:39 AM
Rainmaker
3,394,222
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

It is funny when I ask listing agents in my area and hear this as well. "ask the management comany?" shouldn't they ask so they can market the condo properly?

Apr 15, 2018 05:53 AM
Rainmaker
4,305,869
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

I have received these questions from banks who are refinancing units for their borrowers.  Knowledge is quite powerful. 

Apr 15, 2018 06:32 AM
Rainmaker
955,521
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

I rarely ever work with condos, but if I did I would know exactly how to get exactly what I need. Somebody's running the show, and a lot of times the information is online.
Funny story, not about condos but one waterfront community in my area, the HOA is literally ONE GUY who lives across the street. No website.
If you don't know how to get a hold of him, you'll never know what the deal is on the dues and amenities. You also can't be approved for membership without him. LOL
This is why I say real estate is not just local but hyperlocal, and you don't know what you don't know.

Apr 15, 2018 06:13 AM
Rainmaker
4,573,477
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Yes and yes. The problem, Dennis, is that many condo sellers don't know the answers, don't have paperwork easily available if at all. And I've run into more than one condo association that won't release documents to a listing agent.

Apr 15, 2018 04:57 AM
Rainmaker
1,147,512
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

If I can't find it online you're going to get the call Dennis. Luckily, public record has alnost everything I could ever want to know about condominiums.

Apr 15, 2018 04:53 AM
Rainmaker
5,581,328
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

that listing agent has no business listing anything.... it's her job to know everything about each one of her listings.... and she must disclose all of this information.... the more information a listing agent provides, the easier it will be for the right buyer to buy and the buyer's agent to cooperate...

Apr 15, 2018 09:46 AM
Rainmaker
715,452
Peter Testa
Nationwide Homes - Danbury, CT
PETER TESTA

I always start off by gathering the basic information that is needed- prior to going on the market. I'll get the information from the Seller. Rarely do they provide the Resale Docs from when they bought it. Even when they do it's often outdated. Those cost hundreds of dollars so they are ordered when the deal goes into contract & then the buyer can take them & review the bylaws line by line. If there's a specific question I don't have the answer to I will call the HOA & get the answer. That's what I call working things out!

Apr 15, 2018 07:21 AM
Rainmaker
4,634,259
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Yes, many listing agents do not have all the information. Makes me wonder how they determined price! Makes me wonder about their competence.

Apr 15, 2018 06:10 AM
Rainmaker
3,071,034
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Yes and yes

Apr 15, 2018 05:32 AM
Rainmaker
4,799,732
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

If I represent the buyer, and the listing agent doesn't have the information I need, I will also call you.

Apr 15, 2018 05:32 AM
Rainmaker
1,775,877
Lyn Sims
Schaumburg, IL
Real Estate Agent Retired

Yes I personally do but there are many agents that just feel it's someone else's job. I would also like to add that MOST of the time that is included in the listing sheet & the BA refuses to read it.

Buyers just looking do not need to see condo docs. I've never given any out just willy-nilly.

Apr 15, 2018 05:07 AM
Rainmaker
920,078
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

I do help folks buy and sell condos.

Friday the buyer agent called to inform me I mentioned nothing about the pet policy. IN ALL CAPS, in the last line of property description AND realtor remarks it states: SORRY NO PETS and NO LEASING.

The list goes on and on and on regarding examples of you can lead agents to the water, but you can't make them drink.

Yes the information is ALWAYS there. But listing and buyer agent often choose not to read.

DO you read the association / condo docs of all the properties you list?

Apr 15, 2018 04:34 AM
Rainmaker
4,433,809
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

I receive calls from people asking for bylaws when they read my active rain posts.

Apr 15, 2018 03:57 AM
Rainmaker
2,059,480
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

There are a couple of online options to handle all required Docs 

Apr 15, 2018 03:39 AM
Ambassador
2,613,413
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

   The LA won't have a clue.  The owner doesn't know.  They fill out the required (statutory) form wrong.  Getting documents from many COAs can be an exercise in futility.

    Use an Attorney.

Apr 15, 2018 12:14 PM
Ambassador
3,657,599
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

 

I do sell condos and I find that as a listing agent, I need to educate the buyer's agents. Different condo different rules.

Always check for things like...

Is it an approved building.  Condo Fees and Assessents. What, if any, utilities are included. Pet policy. Rental policy. Age restricted. Elevator use. Moving in times.  ROFR. Board approval. Parking. Security...and the list goes on.

Apr 15, 2018 10:32 AM
Ambassador
3,175,300
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

YES! 

The HOA docs are ordered upfront and provided in the disclosure package. 

Adding to that, I ask the sellers, what is included in their fees.  

I also ask, if there is assigned parking. What is their mailbox number? That list goes on and on.  

Apr 15, 2018 08:46 AM
Rainmaker
577,350
Gloria Valvasori, Accredited Senior Agent
BETTER HOMES AND GARDENS REAL ESTATE SIGNATURE SERVICE - Mississauga, ON
REAL Experience | REAL Commitment | REAL Results!

If I am listing a condo I know all the stats and can answer any and all questions.. that is MY job... I know if pets are permitted, or if they are restricted.. if restricted I know what the restriction is, I know what the condo fees are and what they cover ... 

Apr 15, 2018 07:39 AM
Ambassador
4,776,643
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Yes and yes. But getting the answers on some questions can be a challenge. Sometimes the sellers know the answers, sometimes they don't and many HOA are not very cooperative in sharing information except via their documents, which cost a lot of money and take forever to get.

Apr 15, 2018 07:35 AM
Ambassador
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Yes! If I'm selling them, I know the answers before it ever hits the market...and I have the documents to share with other agents as well. 

In our fast-paced market, preparedness is key, Dennis!

Apr 15, 2018 07:33 AM
Rainmaker
1,191,144
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

You got $100 for ordering by laws?  I only go to HOA review all the docs and gave them a summary to those busy occupants who do not have time but sign every document.

Apr 15, 2018 06:36 AM
Rainmaker
1,045,215
Dave Martin (703) 585-4687
Fairfax Realty - Fairfax, VA
Making Realty Dreams a Reality #WeWillGetYouHome

I have and I do depends on the market and the condo they are a different challenge than fee simple properties Dennis Swartz 

Apr 19, 2018 06:01 PM
Rainmaker
1,568,486
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

Yes, I am.

Apr 18, 2018 11:06 PM
Rainmaker
5,400,683
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

We have so many, I cannot say I know each and every one of them.   Listing agents don't always have the correct information, so research is always needed.

Apr 18, 2018 07:38 AM
Rainmaker
4,414,914
Richard Weeks
Dallas, TX
REALTOR®, Broker

I do sale condos; however, the basic documents are provided by our state real estate commission and our state association of REALTORS®

Apr 18, 2018 06:34 AM
Rainmaker
1,054,428
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

We obtain HOA docs at a fee through the HOA directly or companies that are designated by the HOA to provide such information. Certain HOA information must by law in California. It can be gotten before or after getting into a contract to sell. The fee to obtain the info is one of the negotiable items in the purchase agreement.

Who pays for water, garbage, gate fee, insurance, common area maintenance, pool maintenance as well as questions about parking and storage and so much more can be obtained by the listing agent before the property goes on the market.

The more the buyer knows, the better the offer will be the is forthcoming and the less problem closing the transaction.

Apr 16, 2018 01:56 PM
Rainmaker
708,398
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Group Valencia & Aliso Viejo

I don't answer questions like this as the price of being wrong is above my financial ability to pay.  I get the CC&R's and have them get answers in writing to any and all of the questions and concerns.  Liability and being in court are to be protected and avoided at all times.

Apr 16, 2018 09:12 AM
Ambassador
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Yes, Dennis Swartz, I do sell condos, too.

Apr 15, 2018 11:07 PM
Ambassador
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Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

I can't afford to pay for the by-laws until I am under contract

Apr 15, 2018 10:48 PM
Ambassador
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Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

We have about 10 condo buildings in my market.  And a few townhomes with HOAs as well.  It's not often I have a buyer for one, but every now and again so I have to keep up.

Apr 15, 2018 09:49 PM
Ambassador
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Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

I dont believe that we have any of those around here.

Apr 15, 2018 08:44 PM
Rainer
180,615
Harjeet Bhatti
FITH THIRD BANK - Chicago, IL
Home Mortgage Consultant 25 States

HOA information is essential in condo sale. As a lender if we have all the information upfront lot of time can  be saved in condo financing.  

Apr 15, 2018 07:25 PM
Ambassador
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Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

I sell condos and also blog about them. I get calls routinely about the by-laws and HOA dues and what they cover. It is so much easier to make one call then for the agents to do the work.

Apr 15, 2018 04:16 PM
Rainmaker
3,986,000
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Very seldom as not many in my area

Apr 15, 2018 03:34 PM
Ambassador
1,939,167
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

Yes, I did and yes I could.  That was also true of mobile homes on leased land.  I loved working with the elderly.

Apr 15, 2018 12:07 PM
Rainmaker
1,708,245
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Not a big deal in our market but HOAs should be a part of your knowledge base.

 

Apr 15, 2018 10:12 AM
Rainmaker
7,130,631
Roy Kelley
Retired - Gaithersburg, MD

You need to sell condos if you work in our market.

Apr 15, 2018 10:01 AM
Rainmaker
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Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

When I do work with condos, I get the list of what's included from the seller.  If they know, I know and I put it in the MLS.

Apr 15, 2018 09:23 AM
Rainmaker
712,144
Richard Bazinet /MBA, CRS, ABR
West USA Realty - Scottsdale, AZ
Phoenix Scottsdale. Sellers, Buyers & Relocations

Well of course. Those are easy questions.

Apr 15, 2018 07:46 AM