The link below has absolutely nothing to do with HOAs. It should. But it’s interesting nevertheless. It’s also a chance for me to tell another one of my weird personal stories.
It was the early 70s and we were three years into our marriage. We had our second baby son and we were living in relative poverty. Still, we went looking for a home and found one for sale on the Seattle Eastside. I think the original price was around $30,000 but I calculated that all we could afford was $23,000. I gave the owner 200 bucks cash for the earnest money deposit and since there was no Realtor involved and nothing to sign I wrote up my own contract on the only paper in the house: A paper napkin. What was I thinking? I was just 24 and still dumb about life.
The owner of the house signed the paper napkin, reluctantly of course. I know he had regrets about accepting my low-ball offer, but he still honored our agreement. And I carried that napkin into my bank to see if they would give me a loan. Based on the signatures on the napkin they gave me a full loan.
After getting the TV job in Denver a couple of years later we sold the house…and got $36,000. Had I kept that old house it would be worth more than a half million dollars today! You win some, you lose some.