National Agents:
HOA and POA are the same thing. They are the rules of the HOA – homeowners association. ( or POA – property owners association) When a seller sells to the buyer, seller needs to provide buyer with the HOA resale documents. This is so the buyer understands that when he buys, he is also agreeing to the rules of the community.
For instance, the buyer might not be able to paint his front door purple and park an 18 wheeler in the parking lot. So it’s a protective rule protecting property value.
The Buyer has 3 days after receipt of these documents to either agree by being silent or voiding the contract based on HOA documents.
This has been another exciting: “Training in a Minute“.
Keith