CandyC1 (Missouri)
Posts: 2
Posts: 2
Posted:
I am a trustee for our HOA. Our subdivision was developed with a set of covenants in place. The original builder filed bankruptcy and a new builder has purchased the lots from the bank. Although the covenants state a minimum of 1200 sf is required, all of the original homes averaged 1700 sf. and a purchase price in excess of $240,000. Now that a new contractor has begun to build, some homeowners are concerned that with the economy being as it is, there will be smaller homes going in along side the larger ones. This is a traditional neighborhood development with a Victorian style architecture. The covenants require that the exteriors stay "consistent". My question is: can covenants be changed to "up" the minimum square footage after lots are purchased by a builder?
I would not think so, but would like some input.
Thank you,
I would not think so, but would like some input.
Thank you,