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Condominium Sellers Statement and Buyers Receipt of Information for Maryland Resale Condominiums (Required for the resale of all condominiums in Maryland) To be provided at the time of delivery of

How to fill out condominium sellers statement and

How to fill out a condominium seller's statement:

1. Begin by gathering all necessary documentation related to the condominium, such as financial records, maintenance fees, special assessments, and any outstanding liens or judgments.
2. Fill in the personal information section of the seller's statement, including your full name, address, contact information, and the date of the statement.
3. Provide details about the condominium unit, including the address, unit number, and the legal description of the property.
4. Indicate the type of ownership of the property, whether it's a freehold or leasehold interest, and any relevant details about the lease, if applicable.
5. Disclose any known defects or problems with the condominium unit, such as plumbing issues, structural damage, or any ongoing disputes with neighbors or the homeowners' association.
6. Detail any improvements or renovations made to the unit, including the dates of the improvements, permits obtained, and the cost of the upgrades.
7. Specify any ongoing or upcoming special assessments, maintenance or repair obligations, or upcoming major expenses related to the condominium unit.
8. Provide information about the financial aspects of the sale, including any outstanding mortgage liens, the amount owed, and details about the mortgage holder.
9. Sign and date the condominium seller's statement, and ensure that all information provided is accurate and complete.

Who needs a condominium seller's statement:

1. Sellers: Individuals or entities selling a condominium unit are required to fill out a condominium seller's statement. This document ensures transparency and discloses important information about the property to potential buyers.
2. Real estate agents: Real estate agents assisting sellers in the sale of a condominium unit often require a completed condominium seller's statement to accurately represent the property to potential buyers.
3. Potential buyers: Buyers interested in purchasing a condominium unit may request a completed seller's statement to understand the current financial and legal status of the property. This document is helpful for conducting due diligence and making informed decisions.

Please note that the requirements for a condominium seller's statement may vary depending on the jurisdiction, so it is important to consult with local real estate laws and regulations.

For pdfFiller’s FAQs

What is condominium sellers statement?

Condominium seller's statement is a document that discloses important information about the property being sold, including any outstanding fees or assessments.

Who is required to file condominium sellers statement?

The seller of a condominium unit is required to file the condominium seller's statement.

How to fill out condominium sellers statement?

The condominium seller's statement can be filled out by providing all necessary information about the property being sold, any outstanding fees or assessments, and signing the document.

What is the purpose of condominium sellers statement?

The purpose of the condominium seller's statement is to provide transparency to potential buyers regarding the financial and legal status of the condominium unit being sold.

What information must be reported on condominium sellers statement?

The condominium seller's statement must include information about outstanding fees or assessments, any pending legal actions related to the property, and any known defects or issues with the unit.

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