Do you know what a Homeowners Association does? To be honest, the meaning of that term could vary greatly depending on what part of the country you are in, or even in what neighborhood you live. It is important to understand, however, that the HOA could have a huge influence on your life and your home if you move into an area where there is one. This means that knowing about the HOA is going to be an important part of the process when you are buying a home.

You should be able to review the bylaws of the HOA before moving into the neighborhood, and that should tell you what rights and requirements they have. If you feel like you can’t live with those, you might be better off finding a different neighborhood to move to.

In some areas the HOA even has the right to do a non-judicial foreclosure on homes where the owner hasn’t been paying their dues, and this could come as a shock for some that aren’t aware of that eventuality.