Let’s take a look at the CC&R’s of Sunriver, OR and how they can affect a Buyer or Seller of Sunriver Properties. It is important to be aware of the CC&R’s (Covenants, Conditions and Restrictions) of the area of which a property is located. Sunriver has a set of CC&Rs and each of the condominium complexes has their own rules in addition to the ones set by Sunriver. A couple of the communities within Sunriver that are not condos actually have a second set of CC&Rs also.
When a buyer uses a REALTOR® that is not familiar with what the CC&Rs are or what the Home Owners Association covers they put themselves at risk of buying something that will not allow for changes or uses that the buyer intended.
Sunriver is a resort community;
however there are many full time residents in Sunriver. You can easily access most of these rules by visiting the website created for Sunriver Owners.
In Sunriver there are restrictions for fencing, size of the home in comparison to the lot, roofing materials and paint colors. Although many visitors and buyers may not agree with some of these restrictions. It these very restrictions that keeps Sunriver the beautiful resort it is.
Sunriver home owners pay an HOA (Home Owners Association). This gives access to the use of over 30 miles of bike/walking paths, swimming pools and discounted golf on two courses. Not to mention the snow removal on the roadways and the beauty of living in a resort.
In addition to the Sunriver HOA fee each condominium complex has a HOA fee of its own. These vary from condo complex to complex. Just as the fees vary so do the amenities of the complex and what the fees cover.
Each of the condo associations has a manager
It is always best to check with the association to be sure you have the latest version of the CC&Rs. It can be beneficial when purchasing a condo to obtain a copy of the minutes from meetings over the last year. This will alert you to possible changes being considered and fees you will be paying. There are times when an association will have a special assessment. Assessments cover additional costs not in the complex budget such as new roofing or decks. By reviewing the minutes you will be aware of upcoming expenses and not taken by surprise.
One of the attractions to buyers of a condo is lower home owners insurance. Most of the condo associations actually cover the building and fire insurance. The owner is only responsible for covering are the contents and liability. Another attractive feature of the condo association is that in most cases the exterior maintenance is covered by your fee.
On the flip side of the condo ownership, you need to remember that these association fees will increase your monthly payment. Some condos do not allow hot tubs; others do not allow nightly rentals, having a REALTOR® that knows Sunriver and the differences in the properties can save the buyer a lot of time, money and heartache.