HOA's Option of First Refusal

[chungifei]

The short of this question is, if an HOA retains the "Option of First Refusal" on a condo that is being sold, will the HOA be forced to buy the condo if it wants to use its option of first refusal to prevent a potential buyer from buying a property under their jurisdiction?

The seller of a condo recently accepted my offer to buy his condo. I thought all the paperwork had been completed until today when I was notified that the HOA retains the option of first refusal and uses it to enforce a minimum income limit of $47,000 for buyers, a fact the listing agent conveniently neglected to mention to me!

I am paying for the condo up front with cash (no loans or mortgages) directly from my family (who are unwilling to be co-owners of the condo with me, since the HOA requires that all owners claim the unit as their primary residence) and am ready to pay the required 12-month HOA fee deposit immediatey, so why exactly should I be forced to come up with evidence of a minimum income of $47,000?

Is income discrimination of this sort legal? Again, I am not a renter, and I am not taking out any loans to purchase this property.

I only make about $23,200 a year and may not be able to purchase this property if the HOA get their way. Does anyone have any advice as to how I can circumvent the HOA's bizarre and discriminatory policy?

What is the name of your state (only U.S. law)? Florida.

 

[You Are Guilty]

A right of first refusal means that the HOA would essentially replace your name on the contract with its own. In other words, it would have to purchase the condo under the same terms that you offered. It cannot merely "exercise" its right and not purchase the condo just in an effort to keep you out.

However, unless you are willing to litigate, there is probably not a lot you can do to stop a HOA from overstepping its authority.