Get the free 32-3, CONDOMINIUM RESALE CERTIFICATE, 12-05-2011 - trec state tx
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Dec 5, 2011 ... CONDOMINIUM RESALE CERTIFICATE. (Section 82.157, Texas Property Code). Condominium Certificate concerning Condominium Unit ...
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How to fill out 32-3 condominium resale certificate
How to fill out a 32-3 condominium resale certificate:
01
Begin by entering the name of the condominium association and the address of the specific unit being sold.
02
Provide the seller's name, contact information, and the date of the resale certificate.
03
Include the buyer's name and contact information.
04
Indicate the unit number and any parking or storage spaces included in the sale.
05
State the current outstanding balance on the unit's account, if applicable.
06
Provide information about any pending assessments or special assessments that the buyer might be responsible for.
07
Include details about any ongoing litigation or legal disputes involving the unit or the condominium association.
08
Enter the amount of the association's working capital as of the date of the resale certificate.
09
State the current reserve balance and any upcoming reserve expenditures that have been approved.
10
List any changes or modifications to the condominium's governing documents that have been made within the past two years.
11
Include any additional disclosures or information required by local or state laws.
12
Once all the required information has been provided, the seller should sign and date the resale certificate.
Who needs a 32-3 condominium resale certificate:
01
Buyers interested in purchasing a condominium unit need a 32-3 condominium resale certificate to gain a comprehensive understanding of the unit's financial and legal status.
02
Lenders may also require a 32-3 condominium resale certificate before providing financing for the purchase of a condominium unit.
03
Condominium associations typically request a resale certificate to ensure accurate and complete disclosure of the unit's status to potential buyers. This helps protect the association's interests and provides transparency to all involved parties.
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