Senate Bill 1588 limited fees on resale certificates; prevented conflicts of interest on governing boards; and requires a bid solicitation for any purchase of more than $50,000.
PUBLISHED 11:01 AM CDT Sep. 15, 2022A homeowner association can be a big plus when choosing to purchase a home, but it also can come with a serious downside.
“Many real estate buyers seek out these HOAs for amenities or standards of care,” Liberty Hill Realtor Christie Gessler, an officer in the association, told the House Business & Industry Committee on Thursday. “But we also hear a lot from our members about challenges that they and their clients face when buying, selling or even living in homes in associations.”
Setting HOA fees can be a complicated process, Gessler said. It’s even tougher to hear from homebuyers who learn about unexpected charges at the last minute.
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