Say it isn’t so…...

 

Sometimes, thankfully not often, we have a friend and neighbor who must move out of their Arbor Grove home, creating a need to sell their unit.

 

What folks forget is that all Arbor Grove Homeowners Association members together own all the exteriors of every unit. Therefore, the Board of Directors must be included in and made aware of any potential sales and purchases.

 

So, as we wind down 2025 and enter a New Year, we want to address what needs to happen for real estate transactions to be completed quickly, regardless of the involvement of realtors, attorneys, mortgage lenders, or straight-up cash deals.

 

So, if you are considering selling your home, please keep in mind these basic principles:

1.   When you are about to put your home on the market, please be sure to reach out to our Board President.

2.   Frequently, first-time condo/homeowner association buyers are unfamiliar with the concept of this type of planned community living and what            some people may perceive as limitations compared to single-family homeownership. Point potential purchasers to our website at                              arborgrove.com. There is ample information on the welcome page, including our covenants, conveyances, and bylaws.

3.  When working with realtors and/or attorneys and title companies, please share these reminders with them:

   a.  A copy of the fully executed purchase agreement should be received by the association within five days after acceptance (Feel free to                 scan/email to arborgroveboard@gmail.com). 

          b.   Each unit is for owner-occupied, residential use only and may not be purchased for rental purposes.

          c.   Before or at closing on the final sale, you, your attorney, or title company must collect and return to Arbor Grove:

                     i.   Condominium Association homeowner’s insurance 6 (CO6) type Homeowner’s Insurance Policy showing “Additional Insured” as                                 Arbor Grove Homeowners Association, 709 Arbor Parkway, Bourbonnais, Illinois, 60914 with a minimum liability coverage of                                    $1 million dollars.

                    ii.  Non-refundable assessment fee equal to 2 times the monthly HOA fee (currently $400/month x 2 = $800) payable to Arbor                                     Grove HOA (can be paid at closing).

                    iii.  Buyer(s) completed the initial ACH form for future HOA monthly payments, to include a copy of a voided check from the                                         account to be charged. 

                    iv.  Buyer(s) completed the Voter Designation Form and the Homeowner(s) Information form with contact information.

                     v.  Encourage new owners to read the Covenants and Conveyances, Community Guidelines, and bylaws if not already done so                                        before closing. They are all available on ArborGrove.org with links on the main page under “Welcome.”

 

4.    As the Seller, you are responsible for providing new owner(s) with the fob(s) or entry swipe card(s), Garage Door Opener(s), US Postal Mailbox Key(s), and traditional unit key(s).

 

Following these reminders will make all transactions involving the purchase/sale of real estate in Arbor Grove a seamless and straightforward process, helping all new homeowners enjoy life here in the Grove. 

 

It is the hope of all of us in Arbor Grove to continue to have close to zero turnover among our homeowners, and God willing, we will all find ourselves still here enjoying our neighborhood in 2027.

 

Happy New Year to All!!