Do not pertain to Condominium Hotels
The resale package for a home or unit in a common-interest community must also include a statement from the association setting forth the amount of the monthly assessment for common expenses and any unpaid
obligations that are due from the selling unit’s owner, including management fees, transfer fees, fines, penalties, interest, collection costs, foreclosure fees, and attorney’s fee. Please be advised that while the resale package includes this information, changes to the law in 2013 no longer allow a seller or buyer to rely on this statement as accurate. The seller must obtain a “statement of demand” which is separate from the resale package.
Categories: Common-Interest Communities and Condominium Hotels, Residential Disclosure Guide