Home Sales and HOA Disclosure Packages

Spring is the season of job transfers and home selling, and our Hunters Ridge community is now sprinkled with FOR SALE signs. More than half the homes put up for sale found prospective buyers within a week, a testimony to the attractiveness and desirability of Hunters Ridge home ownership.  As new buyers go through their qualification process to complete their purchase, the Hunters Ridge HOA performs their legally required service producing an HOA Disclosure Packet (DP) to be delivered to the new homeowner prior to settlement.

The lawmaker’s intent in creating the DP was to protect purchasers from the unknown, hence the title “Disclosure Packet”.  The DP contains the HOA’s Covenants and bylaws, rules and regulations, and the architectural guidelines and restrictions adopted by the association.   We inspect the property to verify the property is not in violation of the HOA’s architectural guidelines, and also provide the status of the sellers outstanding financial obligations to the HOA, including any liens posted for debts to the HOA.  We regard the disclosure information we provide to be a service to the buyer, advising them of existing issues related to the property that they should be aware of.

To request a DP to support the sale of your property go to the Hunters Ridge web site (www.huntersridgeva.net) to download our DP Request Form, fill out the form, and send it to the HOA with the requisite $100 fee.  By law the HOA has 14 days to produce the DP once payment is received, so work with your realtor to make sure this legally required step is initiated in a timely way.

 

2014 Assessment Update

The HOA collects the annual assessment beginning in mid-January of each year.  This assessment funds the operations of the HOA which includes trash and recycling, mowing, landscaping and other expenses related to the community.  The assessment for 2014 was $300 and it has remained at this level for several previous years.  As of April 1st,  215 of 216 homes have paid. This high rate of collections allows the HOA to remain financially viable which results, over time, to enhanced home values in Hunters Ridge. Thank you for your prompt payments.