Q: 1. Where can I find a list of homes in Greenwood for sale or rental and their location in Greenwood?
The latest Classified Ads list homes for sale or rentals that our residents or their realtors have placed with us, including home for sale by owner not listed anywhere else. Listings are free for Greenwood Village homes. There is also a link to the contact information for Williamsburg Townhomes apartments and Realtors who reside in Greenwood. If you would like to know where a particular home is located in Greenwood, first go to Map and Directions page and scroll down to find the address that matches your ad. This will tell you if it is a single family home, or in one of the condominium associations. Once you know that, look at the colored coded map on that page, find the color of that association and then look on the map for the color & association/street name that matches.
Q: 2. I’m interested in buying a condominium or a house in Greenwood. What should I know about the community and its regulations?
Greenwood Village is one of the most unique developments in Ohio. Surrounded by parks, it is a nature lover’s paradise. All residents are members of GVCA, which entitles you to use the amenities, such as swimming year-round at our indoor and outdoor pools, fishing in our pond, playing tennis or volleyball on our outdoor courts, hiking on our trails, and rental of our party rooms. Greenwood is a Planned Unit Development with a focus on housing and property preservation and has a set of rules that regulate what can and cannot be done. These rules are administered by the Architectural Control Committee for Existing Structures (ACCES) and ACCES Rules are available on this website.
Q: 3. I’m shopping for a condominium. What do I need to know about this kind of purchase?
A. Ohio law changed in 2004. Condominiums associations are now required to be fully funding their reserves, unless the majority of residents vote against it every year. Fully funding associations typically have higher monthly fees, but cannot hit you with special assessments for routine repairs. Check if the condominium association had a professional Reserve Study done in the past 5 years, and if are they fully funding their reserves compared to that study before you buy. A useful calculation is to divide the total reserve balance by the number of units in the condominium association. That provides an average amount they have put aside per unit for roof replacement and similar major repairs.
When comparing condominium units, especially to single family homes, in addition to the physical unit you are buying, realize you are also buying a share of the condominium’s total reserve balance. With single family homes, the seller usually does not give you money for future major repairs. Your bank account is your reserve for any major repairs your single family home will need, so remember to put money aside each month for that rainy day when you need a new roof.
GVCA, as the Master Home Owner Association over all of Greenwood, has a professional Reserve Study done every 5 years and is fully funding GVCA”s Reserves, which are used to maintain the GVCA’s facilities and amenities, as well as the many common areas owned by GVCA throughout Greenwood.
Q: 4. What are title transfer requirements when purchasing a home in Greenwood Village?
A. The title agency must notify the GVCA office of pending purchases in Greenwood Village so any GVCA fees owed are included by the title agency in the closing costs. If the home is in a condominium association, the title agency must also contact that association or it’s management company so any condominium association fees are also included in the closing costs. Once title transfers, new owners should stop by the GVCA office at the clubhouse to receive an copy of the GVCA homeowner documents and to sign up for the activity pass so you can use the facilities. (The “Activity Pass Form” is posted under the “Forms” menu bar at the top of the website.)