Realtors and title companies often contact GB3 with questions from interested buyers or potential clients regarding Talbrock Circle’s fee simple property development. These questions generally address deed restrictions, property standards, insurance requirements, and various matters of association governance. To help with these matters, GB3 suggests a general review of the association’s primary documents: the GB3 Articles of Incorporation, the Code of Regulations, and the Declaration of Covenants, Easements, Restrictions, and Assessment Lien.
Also noteworthy, realtors and title companies should be aware of another GB3 document, a leasing restriction that became effective February 2009. This amendment to the Declaration of CERAL requires all housing units on Talbrock Circle to be owner occupied, not leased to tenants and/or used as investment property. In addition to GB3’s governing documents, there are four key informational items to note and pass along to prospective buyers of property on Talbrock Circle:
- All property owners are required to pay annual assessments ($230), which are used for maintenance of the common areas and for some shared private property.
- As a fee simple housing development, property owners are responsible for full maintenance and repairs of their structural units, lots, and private parking areas.
- All exterior modifications to properties are subject to approval by GB3, according to provisions of the Declaration of CERAL.
- Property owners must fully comply with all provisions of the Declaration of CERAL.