This detailed sample Resale Certificate for Property Subject to Mandatory Membership in an Owners' Associationcomplies with Texas law. Adapt the language to fit your facts and circumstances. Available in Word and Rich Text formats.
Frisco Texas Resale Certificate for Property Subject to Mandatory Membership in an Owners' Association
Category:
State:
Texas
City:
Frisco
Control #:
TX-1078
Format:
Word;
Rich Text
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How to fill out Texas Resale Certificate For Property Subject To Mandatory Membership In An Owners' Association?
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FAQ
The resale certificate gives specific information about the property that is being sold and where it stands with the HOA; this incudes disclosing any past-due payments or unpaid violations, any pending violations, and all fees that are due upon closing.
To ensure that consumers are informed of hazards such as these, the Texas Real Estate Commission (TREC) has adopted Standards of Practice requiring licensed inspectors to report these conditions as ?Deficient? when performing an inspection for a buyer or seller, if they can be reasonably determined.
How to use the TREC HOA Addendum & Negotiation tips - YouTube YouTube Start of suggested clip End of suggested clip Address the name of the association. And the phone number if i represent the buyer i'm going to wantMoreAddress the name of the association. And the phone number if i represent the buyer i'm going to want to check this box i'll put 21. Days there i will scroll on down.
Texas HOA laws require a resale certificate for real estate closings. It is important to make sure you received the complete package in a timely manner. Every HOA is different, however, and it may be difficult to contact them quickly.
In Texas, the seller must provide a resale certificate to the buyer by the deadline stated in the purchase contract. The Texas Real Estate Commission provides a standardized resale certificate form for both single-family homes and condominiums.
Senate Bill 1588: HOA Resale Certificate Fees Places a cap of $375 on what a homeowner's association can charge for a Resale Certificate.
Do I need to submit a resale certificate each time I make a purchase? Yes, except that if a customer purchases exclusively for resale, a seller can accept a blanket resale certificate. The certificate should state that all purchases will be resold in the regular course of business.
