I have bought and flipped an apartment in Norwalk, CT, but to find out that's not as easy as it seems to sell it. The HOA is self managed, and managed very poorly.
The buyer's bank is asking me for a Resale Certificate, and I have asked my accountant to do one for me, but my lawyer is not happy with it.
So, 1st I'll ask if anyone can share a template of an Resale Certificate.
Second, I need a template contract between the HOA and an entity(in this case my accountant) that's naming him as the property manager.
Thank you in advance!
I don't know that there is any way for your accountant to create a resale certificate for the condo. In my experience this is something my clients attorneys have handled with the management company for the condo association.
Daniel is correct, your accountant isn't an agent of the Association so I don't see how he/she is able to answer the questions on the resale certificate?
The Association will need to provide the resale certificate.
Did you get a resale certificate when you purchased? (you won't be able to use it as they expire) The law in Washington says that the resale certificate has to be produced within 10 days but Associations that don't abide by the law have little consequences unless the owners get involved.
I always advise people to stay away from self managed unless you plan on living there and joining the board.
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