condo resale disclosures

condo resale disclosures Revision to Condominium Resale Certificates Relating to EV Charging Stations The WA State Legislature recently approved a revision to the Condominium Resale Certificate. House Bill 1793, passed by both the House and Senate, was effective June 9, 2022. A new section has been added to the Condominium Resale Certificate relating to electric vehicle charging stations. Whether located in the unit or the limited common elements […]
appraisals Recent Changes to Condo Financing and Appraisal Requirements Following the 2021 collapse of the Surfside, FL condominium tower, and growing concerns nationwide about aging buildings and potential issues due to deferred maintenance, lenders are now required to perform additional due diligence when approving condo units for conventional loans. Fannie Mae and Freddie Mac have issued new requirements for condo and co-op financing. These […]
buying a home Selling Your Condo? Here’s Why the Condo Resale Certificate is Important What is a Resale Certificate? The condominium resale certificate is a critical part of every condo sale.  Condos  and homeowner associations are governed by documents that outline the duties and responsibilities of the homeowner and the community. When a buyer purchases a condo they are entitled to review those documents. The “resale certificate” is a […]
condo financing Don’t Ignore Condo Resale Disclosure Documents   In this fast paced, competitive real estate market, it’s common, in an effort to “win”, for buyers to waive contract conditions such as inspection, financing, appraisal, neighborhood review, etc. Buying a condominium is different than buying a house. With condominiums perhaps the most important contract condition in place to protect a buyer is the […]
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