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Minnesota Common Interest Community Resale Disclosure Certificate. DISCLOSURE CERTIFICATE / PAGE 1. MINNESOTA COMMON INTEREST ...

How to fill out cic resale disclosure certificate

How to fill out cic resale disclosure certificate

1. To fill out the CIC resale disclosure certificate, follow these steps:
2. Start by providing the basic information about the property being sold, such as the address, unit number, and legal description.
3. Indicate the name of the seller and buyer, along with their respective contact information.
4. Specify the date of the resale certificate and the anticipated closing date of the sale.
5. State whether any alterations or improvements have been made to the unit, and if so, provide details about the alterations.
6. Answer questions related to any unpaid assessments, outstanding fees, or assessment increase notifications.
7. Indicate if there are any pending or anticipated legal actions against the property or the homeowners association (HOA).
8. Disclose any current or future special assessments or alterations planned by the HOA.
9. Provide information about the current financial status of the HOA, including its reserve fund, budget, and any recent budget approvals.
10. Include any additional disclosures or attachments required by the state laws or regulations.
11. Finally, sign and date the resale disclosure certificate.

Who needs cic resale disclosure certificate?

1. The CIC (Common Interest Community) resale disclosure certificate is typically required by buyers, sellers, real estate agents, and the homeowners association (HOA) involved in the sale of a property in a common interest community.
2. Buyers often need the resale disclosure certificate to gain a better understanding of the property's financial and legal status before making a purchase.
3. Sellers need to provide the disclosure certificate to comply with state laws and disclose important information about the property.
4. Real estate agents rely on the resale disclosure certificate to facilitate the transaction and ensure transparency for their clients.
5. The HOA is required to provide the disclosure certificate as part of the regulations governing common interest communities.

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What is cic resale disclosure certificate?

The CIC resale disclosure certificate is a document that discloses information about a property being sold in a common interest community.

Who is required to file cic resale disclosure certificate?

Sellers of properties in common interest communities are required to file the cic resale disclosure certificate.

How to fill out cic resale disclosure certificate?

The cic resale disclosure certificate can be filled out by providing the required information about the property being sold.

What is the purpose of cic resale disclosure certificate?

The purpose of the cic resale disclosure certificate is to provide important information to potential buyers about the property and the common interest community.

What information must be reported on cic resale disclosure certificate?

Information such as property details, association fees, rules and regulations, and any pending assessments must be reported on the cic resale disclosure certificate.