Get the free Condominium Seller Disclosure/resale Addendum

This document is a required disclosure addendum for the resale of a condominium unit in the District of Columbia. It advises potential buyers about current fees, assessments, parking, storage, and

How to fill out condominium seller disclosureresale addendum

How to fill out condominium seller disclosureresale addendum

1. Obtain the condominium seller disclosure resale addendum form from your real estate agent or local real estate office.
2. Read the instructions carefully to understand the purpose of the form and the information required.
3. Fill in the seller's information, including name, contact details, and property address.
4. Provide details about the condominium association, such as its name, contact information, and any existing management companies.
5. Disclose any known defects or issues with the property, including repairs needed or ongoing disputes.
6. Include information about any assessments or fees associated with the condominium association.
7. Answer all questions honestly and completely, as required by the form.
8. Sign and date the completed form to certify that the information provided is accurate.
9. Submit the completed form to the appropriate parties, such as the buyer and their real estate agent.

Who needs condominium seller disclosureresale addendum?

1. Sellers of condominium properties who are required to disclose relevant information to potential buyers.
2. Real estate agents representing sellers to ensure compliance with legal disclosure requirements.
3. Buyers who want to receive pertinent details about the condominium and its association before purchasing.

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What is condominium seller disclosureresale addendum?

A condominium seller disclosure resale addendum is a document that provides potential buyers with specific information about the condominium unit and the homeowners association (HOA) that governs it. This addendum details any known issues, rules, and regulations that may affect the purchase.

Who is required to file condominium seller disclosureresale addendum?

The seller of a condominium unit is typically required to file the condominium seller disclosure resale addendum. This requirement ensures that buyers are informed about the condition of the property and any relevant HOA rules before finalizing a purchase.

How to fill out condominium seller disclosureresale addendum?

To fill out the condominium seller disclosure resale addendum, the seller should provide accurate and complete information about the unit, including its condition, any past or present issues, HOA regulations, and financial obligations. It's advisable to consult with a real estate agent or attorney for assistance to ensure compliance with local laws.

What is the purpose of condominium seller disclosureresale addendum?

The purpose of the condominium seller disclosure resale addendum is to protect both the buyer and the seller by ensuring that all necessary information about the property is disclosed. This promotes transparency and helps buyers make informed decisions.

What information must be reported on condominium seller disclosureresale addendum?

The information that must be reported on the condominium seller disclosure resale addendum typically includes details about the property’s condition, any pending assessments or lawsuits against the HOA, the terms of the HOA, any rules or restrictions on the property, and disclosures of any known defects or damages in the unit.