Agreement Condominium Document Without Comments
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FAQ
Hear this out loud PauseWhen a condominium is sold, the seller must, upon request, provide to the buyer: The owner must furnish CC&Rs, bylaws, and the most recent financial statements. A broker took a listing on a property where a person died from AIDS.
Hear this out loud PauseA Condominium Information Statement (CIS) is the packet of documents provided to buyers purchasing a condo unit that is newly constructed or recently converted from a different use.
Hear this out loud PauseThis could include structural damage, plumbing problems, electrical issues, water damage, mold growth, and other hidden hazards. It's important to thoroughly inspect any potential property before purchase to ensure it meets your needs and expectations.
Hear this out loud PauseThe 6 documents required to be provided to the buyer include: Articles of Incorporation, Declaration of Condominium, Bylaws of the Association, Frequently Asked Questions, Prospectus, if there are 20 or more units, and the Estimated Operating Budget.
Finally, as seller of a condo, you should be prepared to provide the purchaser with recent financial statements for the condo, rules, and regulations, and the condo declaration or offering plan.