Tag Archives: homes

Why Do I Have To Pay For A Resale Package?

Why Do I Have To Pay For A Resale Package?

We have many homeowners who think that because they pay assessments every month they should not have to pay for a resale package. They are of the opinion that it is a bunch of pages all put together that just sits and waits for us to “push the button” when they place their order.

I would like to clarify why it is essential that management companies prepare these documents individually for each owner. First, it is a legal document required by law in many states as it protects the buyer from purchasing into a community association without first obtaining “full disclosure”. It contains a disclosure statement that includes the legal or pending legal status of litigation involving the association. It contains up-to-the-minute information about the assessments owed, outstanding special assessments and even pending assessments as required in many states. It provides the association’s financial status and any outstanding loans owed by the association. It also provides any covenants restrictions or violations on the unit. All of these questions are answered and are entered in real time by a staff member when the order is placed. The document is not static; it requires keen oversight as the questions are researched and completed.

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Discussion Forum Follow-Up: Is HOA Dissolution or Receivership the Answer?

A reader writes, “The association has 1,539 homes. The development is 25 years old. The bylaws and covenants have not been updated since 1987. The developer left in 1999. There are warring factions–ones that want the HOA but don’t want the $35 a month dues to go up, and the other faction that wants the HOA to dissolve.

Discussion Forum Follow-Up: Is HOA Dissolution or Receivership the Answer?Discussion Forum Follow-Up: Is HOA Dissolution or Receivership the Answer?Discussion Forum Follow-Up: Is HOA Dissolution or Receivership the Answer?Discussion Forum Follow-Up: Is HOA Dissolution or Receivership the Answer?Discussion Forum Follow-Up: Is HOA Dissolution or Receivership the Answer?Discussion Forum Follow-Up: Is HOA Dissolution or Receivership the Answer?Discussion Forum Follow-Up: Is HOA Dissolution or Receivership the Answer?

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