HOA determines Credit Score?

Started by CaroleS • 10 replies • 691 views

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CaroleS (Florida)
Posts: 97

Posted:

In Florida, can an HOA determine the credit score needed for someone to buy a piece of property?

Thank you

Carole

GeorgeS21 (Florida)
Posts: 3,808

Posted:

Condo, house, or property (lot)?

CaroleS (Florida)
Posts: 97

Posted:

Villa

AugustinD
Posts: 5,144

Posted:

CaroleS, this 2016 web site indicates this may be legal in Florida:
https://www.sun-sentinel.com/real-estate/fl-gary-singer-col-12262016-20161223-story.html

SheliaH (Indiana)
Posts: 6,964

Posted:

(Some of y'all really need to thank AugustinD for Googling this stuff for you...simply put the question or phrase in the search box and see what comes up). Anyway, the first part of the article notes your first step if you don't want to Google - read your documents. If you have a legal question, go to a private attorney - most of us aren't lawyers or live in your area (state laws DO vary).

As for this article, I don't know why a HOA would want to scrutinize credit scores, considering the expensive pitfalls if it's not done correctly. I suspect some do this to ensure the potential resident/HOA member will have the resources to pay assessments in full and on time, as well as keep up the house according to the community standards. I say stay in your lane and let the bank or mortgage company worry about credit scores if someone's taking out a mortgage to buy the property. You'll find out soon enough if the homeowner can meet the HOA obligations and deal with that at the appropritate time.

If it is not right do not do it; if it is not true do not say it. Marcus Aurelius

AugustinD
Posts: 5,144

Posted:

Quote:

Posted By SheliaH on 01/09/2020 9:45 AM
(Some of y'all really need to thank AugustinD for Googling this stuff for you...simply put the question or phrase in the search box and see what comes up).

Shelia, I appreciate your encouraging this. Better to teach a person to fish than to give the person a fish and so on. Sometimes I figure that there is a bit of a literacy challenge on forums like this. Only about one third of this country's citizens over age 26 have a college degree. I think many folks for whom English is a second language post here as well. Identifying key words is maybe not easy. Regardless, let's encourage folks to get on the net and do their own research, just as your friendly nudge does.

GeorgeS21 (Florida)
Posts: 3,808

Posted:

I’m not sure what a Villa is ... condo with common components? Single family? Shared wall duplex or triplex, etc?

CaroleS (Florida)
Posts: 97

Posted:

Shared wall one story

JohnC46 (South Carolina)
Posts: 14,265

Posted:

Quote:

Posted By CaroleS on 01/09/2020 10:56 AM
Shared wall one story

What I call duplexes, tri-plexes, quad-plexes, etc. If more than one story individual units then I call them townhouses. Villas (a marketing word) sounds better than duplexes, tri-plexes etc.

My HOA originally built one story duplexes and called them them Garden Homes. The 2nd phase was single family homes, one and two story. Some of us ask do you have a single or a duplex? Some get upset and refuse to call their home a duplex. They insist on calling it a Garden Home......LOL

GenoS (Florida)
Posts: 4,276

Posted:

Quote:

Posted By GeorgeS21 on 01/09/2020 10:21 AM
I’m not sure what a Villa is ... condo with common components? Single family? Shared wall duplex or triplex, etc?

Villa: a/k/a a Duplex.

GeorgeS21 (Florida)
Posts: 3,808

Posted:

Others may be able to help, but is this duplex villa governed as a condo or single family HOA?

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