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Condo Certificate of Resale from Self-Managed Association - DC

Condo Certificate of Resale from Self-Managed Association - DC 2025

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The document is a Certificate of Resale for a condominium unit, certifying ownership details, unpaid assessments, insurance coverage, and the status of the Unit Owners' Association. It includes information on current assessments, potential capital expenditures, insurance policies, and the board's waiver of rights regarding the sale. The certificate emphasizes the need for prospective buyers to verify assessment statuses at settlement and encourages individual insurance coverage for personal property.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Who completes the resale disclosure certificate?

Who completes the information for the resale certificate? Because the associations property management company handles the accounts receivable for the association and has the rest of its accounting information handy as well, the management company will complete the certificate as a service to its clients.

Who pays for a HOA resale certificate?

Fees - Fees will vary by state and community. Some states are known to limit the amount that an HOA can charge. Although every state is different, generally anyone involved in the purchase of the home is able to purchase the resale package: the buyer, seller, realtor, closing agent, lender or an attorney.

Whats the purpose of the inium resale certificate?

A resale certificate or closing letter provides specific information about the home you are purchasing and its standing within a given community association. Typically, a Resale Certificate is a set of documents that a homeowners or inium seller provides to a prospective buyer, usually after mutual acceptance.

What is a resale certificate in an HOA?

The resale certificate works as a financial overview of the HOA this includes a sellers current standing with the association. A resale certificate also provides important information regarding the property being sold. Other required information may include: Unpaid violations. Pending violations.

Who pays for condo resale documents?

Since assembling the resale package is part of a management companys services, associations can naturally expect to pay a fee for it. For associations without a management company, the responsibility of preparing the resale package falls on the HOA board or a staff member.

What does an HOA resale certificate look like?

The resale certificate is a financial overview of the HOA, featuring a sellers current standing with the association and key information regarding the property being sold. Other information may include: Amount and frequency of HOA dues.

What is the purpose of the inium resale certificate?

Overall, a inium resale certificate facilitates transparency, protects buyers, and promotes fair real estate transactions. It provides potential buyers the necessary information to make informed decisions and ensures a smoother transaction process for all parties involved.

Condo Certificate of Resale from Self-Managed Association - DC 2025

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