Facts You’ll Need To Know When Listing Your Home
The Association can be your biggest asset and advocate when preparing to list your unit for sale. Please read the following details that will facilitate the process of your listing and the sale of your unit:
PRIOR TO LISTING, please let the Association know of your intention to sell your unit as early as possible. We can provide the most up-to-date information regarding the process, as well as data on recent sales.
A Pre-Sale Inspection is required on all properties PRIOR to the listing of your unit for sale. There is a fee of $250 payable to the Association for this inspection and report. We will need to schedule the appointment with the homeowner at your earliest convenience which is to your benefit to get any necessary repairs completed so that you are able to list your unit quickly. We will go over everything that must be done to restore the exterior of the unit back to its original condition prior to listing your unit for sale. The Association will sign off on the report once the inspection findings are satisfied. Please contact the office to schedule the first appointment, which usually runs 30-45 minutes.
The Association has a rental restriction in place to protect not only the Association but also its owners and future buyers. We require that all units be owner occupied for no less than a period of one year prior to being eligible to apply for permission to lease their unit.
There is a one-time Capital Contribution fee of $1800 that you and/or your realtor will want the potential buyer to know. We recommend that this be included in the MLS listing. This fee is paid by the buyer at the time of settlement.
Please kindly forward a copy of the listing once you have one established. Please find below the link for the Request for Settlement Packet form that we will need completed at your earliest convenience, once you have received an Agreement of Sale.
There is a fee for settlement packet preparation, which includes the Resale Certificate. This fee is $500, made payable to the Association. The Request for Settlement Packet form must be submitted along with the appropriate fee and the Agreement of Sale in order to process. Completion of Condo Questionnaires to assist buyers in obtaining a mortgage costs $250 and are completed within 48 hours of receipt of payment and questionnaire. The cost for the Association’s Approved Annual Budget is $50.
The Association, per our Bylaws, has the Right of First Refusal, so as soon as you and/or your realtor receive an Agreement of Sale, you’ll want to email or drop a copy off to our office. We will then go through the requirements of due diligence at the following Council meeting to ensure this is completed as quickly as possible for you.
Based on the time of the month your settlement may be scheduled, we may suggest you pay the Common Fees for that month a bit earlier so as to provide you with the most accurate Resale Cert and Settlement docs, to avoid having to reissue them, which has an associated cost for revisions/updates, as is standard industry practice.
Lastly, if you have any questions, please contact the office. We have found that proactivity is priceless when selling your condo. We are here to help you along the way!