Selling your condo or townhome within a registered Association is not like selling a single family home that is not a part of an Association. The Minnesota State Statute that governs homeowner associations (Minnesota Common Interest Ownership Act – 515B), states that the unit owner must furnish to a purchaser, before execution of any purchase agreement, the following documents relating to the association: the complete set of Governing Documents including the Articles of Incorporation, Declarations, ByLaws and any Rules & Regulations, and a resale disclosure certificate. To helpful fulfill this requirement, your Association’s Governing Documents may be found via your Association’s website. To order the entire package and, more specifically, the resale disclosure certificate, you will need to order through Condo Certs. Click here to be directed to Condo Certs where you will be able to obtain this information. (insert this link – https://secure.condocerts.com/resale/)
2. Hire a Realtor with HOA Experience
Hiring a Realtor with experience in HOA sales will be a benefit to you. HOA experienced Realtors understand the process of selling in an HOA and why things like resale documents are necessary. Their experience will help move the sale of your home along smoothly.
3. Home Inspections
Just like selling a single-family home, your buyer may require a home inspection. Be prepared by going through a maintenance checklist before the inspection to ensure your sale doesn’t get sidelined. For most living in an HOA, your responsibilities in a home inspection include things like, properly functioning HVAC systems, plumbing, electrical function within your home etc. Unlike a single-family home, the condition of the structures foundation and roof would be pieces covered by your HOA.