The Importance Of Obtaining Your HOA or Condo Documents (Video)

The Importance of Obtaining Your HOA or Condo Documents (Video Transcription)

Hi, I’m recording this video because I wanted to either tell you or remind you about the importance of obtaining your HOA or condo documents to sell your house. If you’re receiving this, it’s probably because we’re working together right now and I wanted to remind you, but if you found this through other means, my name is George Belleville, I’m a realtor, and it’s very important that we talk about this and walk through the logistics and why it’s important of the HOA documents and the condo documents.

In Maryland, by law, if you’re selling a house that is in a homeowners association, you have to provide certain documents to the buyer and they have five days to review those documents. With the condo, it’s basically the same rules, but it’s seven days. This can create some anxiety during that period because buyers have the outright ability to terminate the contract if they’re not satisfied with the documents.

I prefer to avoid surprises and have things happen in a controlled manner. One way to do that is to push the review process as early in the contract as possible. I advise my clients to order those documents as soon as they can in the process.

Most HOAs and condo associations do everything online now. You might have to call somebody if you’re in a smaller HOA. Ask for a resale package, which includes specific required disclosures by law. It’s worth noting that there might be additional charges for expedited delivery. Despite this, it’s crucial to order them early to ensure a smooth process. Some buyers might delay providing these documents, which could potentially cause the buyer to back out even after a significant time has passed.

This is your friendly reminder to take action promptly. Contact your HOA or condo association and request the resale package as soon as possible. If you have any questions while filling out the documents, don’t hesitate to reach out.

I hope this information is clear and helpful. If you have any further questions, feel free to contact me. Have a great day!