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.
A homeowner association’s ability to foreclose on a property for failing to pay assessments is a potent tool in collections.
Every board member plays an important role. The secretary is no exception and is so much more than just “note taker”. His or her duites are critical to the Association’s overall success. At a minimum, there are five key areas for which the secretary should be responsible.
Someone in the gated community of Arrowcreek has caused the death of more than 100 birds – some protected species – by intentionally leaving out poisoned birdseed that were soaked or dusted with an illegal insecticide no longer sold in the country, state wildlife and agriculture officials said Friday.
Authors: Community Associations Network National