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Condominium Resale Certificate Form - Fill Out and Sign ...

Condominium Resale Certificate Form - Fill Out and Sign ... 2025

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The document is a Condominium Resale Certificate (Form 27) that provides essential information regarding the resale of a condominium unit. It outlines the responsibilities of the association, details about assessments, potential liabilities for buyers, and necessary disclosures related to the unit's financial status, legal issues, and compliance with regulations. The form must be completed by an authorized representative of the condominium association and includes sections for various financial obligations, pending legal matters, insurance coverage, and required exhibits.

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What is in a condo resale package?

To close a real estate transaction, you would usually need a resale package of documents, that is varied per state. A standard HOA resale package has two parts: a resale certificate and a collection of governing documents, like CCRs, Bylaws, Budget, Balance Sheet, and Reserve Study.

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.

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.

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.

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.

Condominium Resale Certificate Form - Fill Out and Sign ... 2025

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