![]() ![]() ![]() Section 5: OPA Board Subject: ARC/ECC Nonsense Msg# 1230762
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Thank you Daria. | ||||||
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For reference, the above message is a reply to a message where: things. One, OPA made a copy of the DRs (for $250) for the seller/real estate agent to give to the buyer. Two, the seller affirms they have no knowledge of anything wrong with the property. THAT IS THE EXTENT OF WHAT EVERYONE CALLS A RESALE CERTIFICATE. That's not quite accurate. What people call a resale certificate is actually a bundle of documents attached to a certificate of resale disclosing the dues amount and whether or not they've been paid. That whole bundle is the certificate. It's the HOA's disclosure to buyers, so that they understand their HOA-related rights and responsibilities before the sale closes. Sellers don't affirm in the resale certificate that they have no knowledge of anything being wrong with the property. Every property has something wrong with it, and sellers have to disclose defects they know or should know about about. But they do that with their seller's disclosure. The resale certificate is meant to give buyers all the info they need about the association. However, the certificate does list claims, violations and such that the association has against the property. The inspection you referred to (and that I noted in a FB group that my home had had) looks for any items that constitute a violation. The HOA affirms in the resale documents whether it has knowledge of violations, so it makes sense that it would check before issuing the certificate. |
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