Welcome Visitor, Wed, Apr 23, 2014, 5 Members Currently Online
Important Announcement(s):
Coyote Sightings!

Selling Your Home

When you sell a home in a common interest development, the law requires that you must provide to the prospective purchaser:  (i) a copy of the Governing Documents; (ii) a copy of the most recent financial statement which the Association has distributed as required by law; and (iii) a true statement writing from an authorized representative of the Association as to the amount of any assessments levied upon the owners interest which are unpaid on the date of the statement, and the additional sums which are or may be made a lien  on the owners’ interest.

You should contact the management firm to obtain the Association’s Disclosure and other requited documents necessary to comply with the foregoing, which are made available subject to a reasonable fee.

Management contact information here:  Eugene Burger Management

Of course the seller of any home is required by law to disclose to the buyer information about the home, including conditions that may affect its value and desirability, such as those discovered as a result of inspection for termite infestation. Such an inspection may reveal conditions for which you are responsible, or for which the Association is responsible, or which will have to be shared in some proportion by you and the Association.

Whether these conditions will be corrected prior to transfer of title, and at whose expense, is generally a matter for negotiation between seller and buyer. However, correction of conditions for which the Association is responsible will be done in accordance with the Association’s maintenance schedule and will not be expedited merely because of transfer of title. To do otherwise would be to give preference to new owners to the disadvantage of owners remaining in possession of their homes. The Association will require, prior to transfer of title, that the seller compensate it for any damage caused by the seller, to elements of a structure for which the Association is responsible. For example, damage to decks caused by the owners pots or planters.

Upon receiving from the seller a copy of any termite report, the Association will make a careful review of the information provided and will then make its finding of responsibility. If the Association agrees that a condition requiring correction is an Association responsibility, and is other than one requiring immediate work (such as one involving an emergency, safety, or the interruption of necessary services), it will assign a priority to the work consistent with its overall maintenance plan.


Printer-friendly format



Login and voice your opinion!