Hello everybody,
I've never dealt with Active Adult communities and now I have a buyer who's interested in purchasing a home in one. Is there any specific documentation involved? I know it depends on each state, but is the process any different from a regular residential transaction?

Thanks in advance.

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Russell Volk, REALTOR®
Mid-Atlantic Real Estate
Feasterville, PA
Bucks County Real Estate | Bucks County MLS | Bucks County Homes.

You should find out how the age is restricted. Some communities have deed restrictions in place that one owner must be over 55, others do not have any restrictions on the owners age but have restrictions on who can occupy the property. Things to watch for, if two people are buying the property and one is not 55, what would happen if the over 55 person dies or no longer can live at the property, would the other owner be forced to sell the property.

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Carolyn Gjerde-Tu

Davis CA Real Estate
Granite Bay Real Estate Sacramento Real Estate

That's great. Thanks for the advice and I will check the deed restrictions.

Is there any special paperwork involved or is it all the same?

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Russell Volk, REALTOR®
Mid-Atlantic Real Estate
Feasterville, PA
Bucks County Real Estate | Bucks County MLS | Bucks County Homes.

It will depend on the community. You would not typically have special paperwork involved when writing an offer, if there are specific documents needed for the complex, the listing agent should have that for you.

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Carolyn Gjerde-Tu

Davis CA Real Estate
Granite Bay Real Estate Sacramento Real Estate

Excellent! Thank you.

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Russell Volk, REALTOR®
Mid-Atlantic Real Estate
Feasterville, PA
Bucks County Real Estate | Bucks County MLS | Bucks County Homes.

Call around and find out who runs the HOA, they can usually fill you in. In Delaware each community is different.

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Michael Brown REALTOR®
REHOBOTH BEACH CONDOS | REHOBOTH BEACH REAL ESTATE |REHOBOTH BEACH MOBILE HOMES

Yes, definetly go and speak with the Buider (if new community) or the HOA and they will tell you all the rules and regualtions of the property and community. See if you can get a copy of the HOA docs before hand (they will probably charge you for it, or get it from the home seller) and make sure your buyers agree to everything in their...if they dont, that is an out for them but within whatever timeframes your board of realtors have as a requirement.

good luck

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Tampa Real Estate | Tampa Foreclosures | Tampa Real Estate Blog

Team Masse services the Tampa Bay Real Estate market as well as the following areas: Apollo Beach, Riverview, Ruskin, Brandon, Lithia, Valrico, Gibsonton, South Tampa, and Channelside District along with St Petersburg and Clearwater. Referals are always welcomed and given.

This can be treated as any other contract with an HOA; read the HOA docs and complete the HOA addendum. Age is just a requirement of the community.

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Russell, some times in associations, there are approvals, kind of like in a for rent mobile home park. In rare occasions that can be a pain. Otherwise it's like a regular sale. Some places because they are age restricted, the values are less than for a comparable home not in an age restricted area. This can affect resale value which might be of consideration for some investors. The point brought up earlier also of who ( what minimum age) can live there is valid. The 55 yr old swinger and his 29 year old girlfriend won't cut it. Also check into how long grand kids or teenagers are allowed to stay. We love'm, but it is nice to have some P&Q and rock and roll and older people don't always mix.

Pet restrictions, how many and how big? Just some ideas. Hope all goes well.

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Thank you all for feedback. I actually did check the docs and it says that at least 1 person must be 55 years old. If one person is above 55 and the other person is below 55 and if the oldest one passes away, the youngest one gets to stay.

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Russell Volk, REALTOR®
Mid-Atlantic Real Estate
Feasterville, PA
Bucks County Real Estate | Bucks County MLS | Bucks County Homes.