Subdivision Information / Resale Certificate (closing, fees, owner, financial)

[mask438]

Is Subdivision Information or Resale Certificate important when one is purchasing a single family home which has HOA? What critical information does it have? Does Title company request the HOA to provide any pending dues from the existing owner (seller) ?

Thanks in advance

[SouthernBelleInUtah]

You should get a complete copy of all HOA documents at closing. The title company will sort out dues to date of closing. I don't know what a resale certificate is, sorry.

[rational1]

You should not buy in an HOA before you read, understand, and accept the restrictions and rules.

You should also be satisfied with the financial condition of the HOA.

These documents may not be required in your state. If not it's up to you to insist on them.

[MikePRU]

Originally Posted by mask438

Is Subdivision Information or Resale Certificate important when one is purchasing a single family home which has HOA? What critical information does it have? Does Title company request the HOA to provide any pending dues from the existing owner (seller) ?

Thanks in advance

Whenever posting in the real estate forum, it's a good idea to mention your location. Your profile states you're in NY is that correct?

Real estate practices in NY are somewhat similar to MA and here in MA when selling a condo or SFH in a HOA you must provide a 6D certificate at closing. I imagine the 6D is similar to a resale certificate. Basically, it just says what HOA/condo fees are outstanding at that time. Most 6D's are "clean" at closing but it is possible to close in MA with a 6D that shows a balance.

[mask438]

Originally Posted by MikePRU

Whenever posting in the real estate forum, it's a good idea to mention your location. Your profile states you're in NY is that correct?

Real estate practices in NY are somewhat similar to MA and here in MA when selling a condo or SFH in a HOA you must provide a 6D certificate at closing. I imagine the 6D is similar to a resale certificate. Basically, it just says what HOA/condo fees are outstanding at that time. Most 6D's are "clean" at closing but it is possible to close in MA with a 6D that shows a balance.

Agreed, I should have mentioned the location... I am in Houston TX