Krec form 404 2025

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The document is a Condominium Seller's Certificate issued by the Kentucky Real Estate Commission, detailing essential information about a specific condominium unit. It includes sections on transfer restrictions, common expense assessments, unpaid dues, anticipated capital expenditures, financial reports, legal judgments, insurance coverage, leasehold estates, and association rules regarding pets and rentals. Required attachments include the operating budget, insurance summary, rules and bylaws of the association, and the declaration.

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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.

What is a certificate of no unpaid common expenses?

A 6 (d) certificate stating that there are no unpaid common charges to the inium association as of the date of closing must be issued and sent to us prior to closing. This certificate is obtained from the trustees or managers of the inium and must be in the form prescribed by law.

Whats 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.

What can a potential buyer do if a inium seller provides inium documents to the buyer eight days after accepting the buyers offer?

A seller must provide a potential buyer with inium disclosure documents within 10 days of accepting the offer and not less than 15 days before closing. After receiving the documents, the buyer has a five-business day right to rescind the offer.

Whats the purpose of the inium sellers certificate in a Kentucky transaction?

Condo buyers and inspectors are better informed if they get a Certificate, just it is they are when home buyers get a Seller Disclosure, and integrate the disclosures in the contract and inspection reports.

What information does the inium sellers certificate provide to prospective buyers?

Typically, a Resale Certificate is a set of documents that a homeowners or inium seller provides to a prospective buyer, usually after mutual acceptance. The certificate typically includes the homeowners association budget, the Covenants, Conditions, and Restrictions (CCRs) for the association.

krec

Krec form 404 template Krec form 404 online Krec form 404 pdf KREC forms the condominium seller’s certificate must be provided to a buyer ________. Kentucky real estate Purchase contract PDF Kentucky seller disclosure form KREC form 203

What documentation in regard to the inium would you request from the seller?

inium documentation? A paralegal who is assisting in the closing of a purchase of a inium unit would request from the seller copies of all the inium documentation, such as the declaration, plat, articles of incorporation, and bylaws of the inium association.