Special offer
Praful Thakkar, Andover, MA: Andover Luxury Homes For Sale (LAER Realty Partners)

Spam prevention
Rainmaker
5,583,278
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

how can a buyer make a decision without having all of the information????? at least provide the rules and regulations.... and disclose any special assessments that are being charged now and/or soon to be charged... have a copy of the budget available, too...

Jan 06, 2018 09:43 AM
Rainmaker
1,052,211
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Depends on how sensitive . . . I personally would not want to waste my/client's time on a deal that can't go through because of HOA problems, so I would put all I can out there for review by a buyer's broker, and as same, hope for the seller's broker to make my life easy so I like them!

Jan 06, 2018 09:56 AM
Ambassador
5,049,033
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

It's typically different here in SoCal than in NorCal as Kathleen Daniels  described. HOA docs are normally ordered by the escrow company once you are in escrow, although nothing says they can't be paid for and ordered before then.

Jan 06, 2018 11:49 AM
Ambassador
3,345,091
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

Absolutely 100% yes.  Too many agents put a condo on the market and have not yet even ordered the HOA docs. That just causes delays in the escrow process ... especially in my market when contingency time frames are cut so short.  

I always get an HOA Document review from a professional third party. 

Jan 06, 2018 10:49 AM
Ambassador
2,684,009
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

 

       Florida Statutes mandate a 15 day review period for new development, and a 3-day review period for resales.  Most contracts stretch out the resale period to 10 or 15 days.

     The Statutes also mandate what documents must be provided.  The contingency period begins when ALL required docs are delivered to the Buyer.

 

Jan 06, 2018 09:56 AM
Rainmaker
921,504
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Condo docs, disclosure, application, financial....

all those things that can determine if physical property is a 'fit' for the buyer should be made available to the buyer agent via attached documents in the MLS.

No rent or lease or visitors not accompanied by owner for two years after purchase is a common show stopper.

The real problem is many buyer agents are reading challenged meaning the listing agent must "TELL THEM ANYWAY" 

However, buyer and their agent are not ENTITLED to these document until of offer has been made.

Jan 06, 2018 09:41 AM
Rainer
130,857
Steve Penner
Royal LePage Dynamic RE / Pro Ledger Bookkeeping Software - Winnipeg, MB
REALTOR® / Pro Ledger Online (owner)

In my market... until recent... is was very uncommon to get the full set of condo docs before an offer.  I really think it is much better to get everything on a PDF.. and put it out there in "advance" of an offer. 

I think the resistance to not share the docs in advance, had a lot to do with the fact that there was typically only 1 set of "paper" docs, they are not cheap, and was a bit of a risk and inconvenient to pass them around. BUT, they are coming out more and more as PDF's.. which makes it much better an easier to share them upfront.

Jan 06, 2018 12:22 PM
Rainmaker
7,836,129
Roy Kelley
Retired - Gaithersburg, MD

Follow the rules of your state and the terms of the contract.

Jan 06, 2018 11:04 AM
Rainmaker
1,712,676
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

I think that is prudent.

Jan 06, 2018 10:29 AM
Ambassador
5,229,945
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Absolutely, without fail, Praful!

Why waste anyone's time - buyers or sellers - if there is something concerning to the buyers in the HOA docs?

Going under Contract before knowing what you're getting into and then not being happy with it, opens up a whole can of worms that I don't want my buyers or sellers to have to deal with.

Jan 06, 2018 03:59 PM
Rainmaker
3,988,007
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Yes if asked, absolutely. The buyer's agent should see that it happens.

Jan 06, 2018 12:25 PM
Rainmaker
1,231,853
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Check your state laws for new, converted, or resale condo documents.

PA has specific days for each type.

Jan 06, 2018 11:51 AM
Rainmaker
2,220,323
Anthony Acosta - ALLATLANTAcondos.com
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

When working with a buyer and they decide to mover forward, I normally email the listing agent and request all disclosures if they are not in MLS so the buyer can review prior to placing a written offer.

Jan 06, 2018 11:51 AM
Rainmaker
1,543,634
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
CEO of Vision Drive Realty - Coastal San Diego

I try to get the condo sellers to order the documents pre-MLS as they won't expire in general. The problem is DOM and any relevant changes during DOM for the meeting minutes, budget and legal...but in a fast market as we've had, less a concern. I'll bet habit has more to do with it than anything.

Jan 06, 2018 10:31 AM
Rainmaker
1,844,271
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

I always have. Better they know the rules ahead of time in my book. Now with PDF's I send them everywhere.

Jan 06, 2018 10:26 AM
Ambassador
6,393,154
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

why not.

 

Jan 06, 2018 07:21 PM
Rainmaker
529,983
Kathryn Acciari
Central One Federal Credit Union - Shrewsbury, MA
Mortgage Loan Originator

My standards:

1.Don't take the listing until you have all of the condo docs. (I've had sellers try to negotiate the condo doc fee with me, expecting me to pay it, while we were negotiating a deal.)

2. Attach as many docs as possible to the listing in MLS. Otherwise, you're inundated with emails from agents requesting these docs. That way, the agents can just pull them when their buyers want them. 

3.  Be sure the offer states a distinct timeframe for buyer review of condo docs so the transaction doesn't wait on that step.

Jan 06, 2018 03:33 PM
Rainmaker
5,104,931
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

I advise my buyers to ask to review documents before making an offer.

Jan 06, 2018 01:31 PM
Rainmaker
2,390,595
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

Here in ND condo records are public information and available anytime at the court house Praful Thakkar .

Jan 06, 2018 12:30 PM
Rainmaker
577,750
Gloria Valvasori, Accredited Senior Agent
BETTER HOMES AND GARDENS REAL ESTATE SIGNATURE SERVICE - Mississauga, ON
REAL Experience | REAL Commitment | REAL Results!

We always allow a Condition in the Agreement of Purchsae and Sale for the Buyer's lawyer to review the Status Certificate (Estoppel).  I also add that any special assesments levied are the responsibility of the Seller, up to and including the day of closing.

Jan 06, 2018 11:45 AM
Rainmaker
711,852
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

I think there is no absolute on this question, Will.  As long as there is a contingency in the deal that the purchase by the buyer of the property is contingent upon review and acceptance of the documents, all parties are protected that full disclosure has occurred.

Jan 06, 2018 11:36 AM
Rainmaker
5,216,387
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Depends on how your contracts reads. In Florida, as Fred Griffin described, a buyer has time after acceptance. In some cases, disclosure of certain facts up front could save a lot of time.

Jan 06, 2018 10:33 AM
Rainmaker
758,035
Peter Testa
Nationwide Homes - Danbury, CT
PETER TESTA

Here in CT the attorney always orders them & it's usually done after contracts are signed. I have had to order them on an REO property. I would also wait til after contracts are signed because there is a cost, several hundreds of dollars usually & they don't transfer to the next buyer. IF the seller has a copy (seldom happens) then it'd be nice to provide them BUT they may have since been AMENDED, making them obsolete. So, no, never upfront- I just let them know the cost & what they cover. 

Jan 07, 2018 08:57 AM
Rainmaker
716,049
Richard Bazinet /MBA, CRS, ABR
West USA Realty - Scottsdale, AZ
Phoenix Scottsdale. Sellers, Buyers & Relocations

Yes, why not. Share and disclose everything upfront, that would be full disclosure, and if the buyer sticks then you got a solid one. What's a sensitive document?

Jan 07, 2018 06:51 AM
Rainmaker
4,800,082
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

If they have them online or in digital format.  Not the hard copies.

Jan 07, 2018 05:47 AM
Rainmaker
4,882,355
Richard Weeks
Dallas, TX
REALTOR®, Broker

Sure.  Why not?

Jan 07, 2018 05:30 AM
Rainmaker
3,071,489
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Barbara Todaro nailed this one!

Jan 07, 2018 05:02 AM
Rainmaker
4,434,127
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Barbara has the answer 

Jan 07, 2018 03:11 AM
Rainmaker
5,005,603
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

We are the same as Jeff Dowler ..title company orders them when your under contract and then buyer reviews..can always opt out. The buyer could order them ahead of time and pay for them before making an offer.

Jan 06, 2018 07:08 PM
Rainmaker
5,772,575
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Yes,

Jan 06, 2018 03:18 PM
Rainmaker
1,197,072
Peter Mohylsky, Beach Expert
PMI. Destin - Miramar Beach, FL
Call me at 850-517-7098

I provide the condo doc's to a potential buyer at the first opportunity but I have been doing business here long enough to answer most questions that might pop up.  I have never seen an issue about the doc's that have derailed a deal.  The major issues that need to be explained are the rental policies and  the pet policies.  All is white wash and looks the same. 

Jan 06, 2018 03:07 PM
Rainmaker
544,014
Dave Halpern
Dave Halpern Real Estate Agent, Inc., Louisville, KY (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

Yes. Even upload them to the MLS

Jan 06, 2018 03:00 PM
Rainmaker
2,182,502
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

I have , but our state law gives them time to withdraw prior to receipt or 5 days after receiving them

Jan 06, 2018 01:55 PM
Rainmaker
2,781,163
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

I dont see why not. However, players get special treatment. Are they players?

Jan 06, 2018 12:38 PM
Rainmaker
1,502,998
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Out here they aren't even ordered until the house goes into escrow, so the answer is no.  Rarely the seller may have a set ahead of time and then they would be provided to the buyer by escrow during the disclosure process.  Having the documents provided prior to showing/writing an offer is not something that happens out here with very rare exceptions.  If it did, they would be attached to the MLS.

Jan 06, 2018 10:50 AM
Rainmaker
1,622,432
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

We do not, but we do disclosure in agent private remarks if there are any assessments, dues increase, or lawsuits. 

Jan 06, 2018 10:06 AM
Rainmaker
809,258
Kasey & John Boles
Jon Gosche Real Estate, LLC - BoiseMeridianRealEstate.com - Boise, ID
Boise & Meridian, ID Ada/Canyon/Gem/Boise Counties

Prior is good. Buyer should have all info possible. Why waste everyones time with terminations during due diligence when it could have been avoided before offer? -K

Jan 07, 2018 06:46 PM
Rainer
509,449
Susie Kay
Ultra Real Estate Dallas Fort Worth - Plano, TX
North Dallas Specialist

I don't see why not.  Typically in Dallas Metro the HOA document is ordered by the title company, though.  

Jan 07, 2018 04:26 PM
Rainmaker
3,416,038
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

It depends, i ask my seller as some say no and others say share away

Jan 07, 2018 09:37 AM
Rainer
2,115
Robert Reif
American International Realty - Chicago, IL

On my last condo purchase, had significant trouble receiving condos DOCS at all, it often felt like the listing agent was trying to kill the deal. Had I demanded the DOCS prior to going under contract, likely the deal would have never went togther.    

Jan 06, 2018 09:21 PM
Rainmaker
3,986,258
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I would to save time

Jan 06, 2018 04:32 PM
Rainmaker
900,128
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

Check the laws in your state. I could see how a prospective buyer would want to review the condo situation before committing, but offers are subject to review of the documents, so probably not obligatory to release prior unless agreed to by all parties and confidentiality agreements are signed.

Jan 06, 2018 01:05 PM