DavidG45 (Delaware)
Posts: 994
Posts: 994
Posted:
I am the sole resident board member in a new community that is being built with a single builder (nationally known company, rhymes with Brian). Part of the community is age-restricted (a 55+ community) that includes a restriction that nobody under the age of 19 can live in the home more than 90 days of the year.
As new homes are being sold by the builder, the age restrictions are being enforced because this isn't Brian's first rodeo. However, we are now reaching a point where some of the original buyers are selling their homes. My question is, what mechanism is in place to make sure these transactions abide by the age restrictions? Is there some kind of mandatory disclosure that new buyers need to see?
Probably a real newbie kind of question, but it's been bothering me and our property manager didn't have an answer.
As new homes are being sold by the builder, the age restrictions are being enforced because this isn't Brian's first rodeo. However, we are now reaching a point where some of the original buyers are selling their homes. My question is, what mechanism is in place to make sure these transactions abide by the age restrictions? Is there some kind of mandatory disclosure that new buyers need to see?
Probably a real newbie kind of question, but it's been bothering me and our property manager didn't have an answer.