Mandatory HOA and POAs
Mandatory Home Owner's and Property Owner's Associations are a key item to investigate as a buyer. They are common in the Highland Lakes area. If you purchase a property and become part of the organization, you are are accepting some liability with the organization. Your agent should assist you by requiring full HOA or POA disclosure as part of your contractual offer to purchase. This should include financial information and past history on items like special assessments.
These organizations often provide valuable services such as governing restrictions and road/common property maintenance. They are essential for some communities. Just make sure you are a fully informed buyer and that your HOA or POA is performing its functions in an acceptable manner.