Hunter’s Green Short Sales – Info for Buyers

Purchasing a short sale doesn’t have to be a crazy experiece as long as you have realistic expectations.  Everyone has already heard about the long wait and most people are at least somewhat preparerd for that.  Short sales are almost always sold “as-is” and aren’t usually in perfect condition, but that is expected.  What some people don’t realize though, is that in deed restriced communities such as Hunter’s Green, Cory Lake Isles, Grand Hampton, Heritage Isles, Tampa Palms, or Live Oak Preserve, the HOA can (and will) require that the home be brought up to their standards and they can set very strict time limits for doing this. 

One of the short sales I completed in Hunter’s Green (representing the Seller) was a very nice custom home in one of the gated villages.  It was in ok condition overall, but it did need some maintenance, especially to the exterior.  The caged pool had some tears in the screened enclosure, the lawn had several dead patches, and the roof had a tile that had slipped out of place.  The Buyer was prepared to fix these odds and ends and they did have an inspection done so they knew what the problems were with the home were.  The day of closing, the Buyer received a list from the Hunter’s Green HOA showing everything that was required and the new owners were given 10 days to do it.  The list included pressure washing the roof and replacing the screen on the pool enclosure, painting of the entire exterior and trim of the home, pressure washing the driveway, trimming all landscape and trees, replacing the sod (not plugging, actual replacement), painting the mailbox, and putting new mulch in the plant beds around the entire perimeter of the home.  While these were probably all things the new homeowner was planning on doing eventually anyway, having only 10 days to complete everything came as a bit of a shock to them! 

Many times Buyers think they will be able to gradually fix a home after they purchase it, but if there’s a strict HOA be prepared (both financially and time-wise) to bring the home up to speed QUICK!!  Most people don’t have a lot of money left right after closing on a home after paying the down payment, escrow reserves, and moving expenses, but if you’re purchasing a home in a deed restriced community such as Hunter’s Green – be prepared.  The Hunter’s Green HOA is very strict and can be irritating at times, but these strict standards are also what ensures the beauty and value of the community.

To avoid having any unpleasant surprises at or just after closing, I recommend contacting the HOA and asking for a list of any code citations on the home you are purchasing.  Adhering to their rules and timelines is much easier if you’re prepared for it ahead of time!

For homes currently listed in Hunter’s Green see the interactive map below and please let me know if you have any questions!  Loree Nichols 813.454.7532 or Loree@welovetampa.com