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Condos..yes I list em,I sell em, I blog em...I Don't Forget the Condo Docs.

The delivery of the condo documents is crucial...the buyer has 7 days after receipt to recind the offer with no reason and with no penalty.

 With HOA (Home Owner Association) buyers have 5 days. If you are listing condo properties or those with mandatory associations, get those documents ordered at the time of listing or when you feel an offer is coming in. It is better to present the documents along with the ratified contract. Then the 5 or 7 day review, can coincide with the home inspection period. Waiting until you are well into the transaction and holding your breath knowing the buyer has that option to back out...can be devestating in this market.

                                                                   Baltimore coop HomeRome Realty

Take a look at some of my ActiveRain posts about Baltimore Condos:

Who Says Baltimore, Maryland Condos are Only For the Old Folks?

The Risteau..Concierge Service..and Outside Beauty..Baltimore County Condo 

Baltimore Condo HomeRome Realty

One Bedroom Condo Baltimore County 7203 Rockland Hills Drive # 305

 Condo Connections in Baltimore -

 

condo: Penthouse # 607, 1 Gristmill Ct. Annen woods, Pikesville, Maryland 21208

1 Gristmill Ct. Annen Woods #501 Pikesville, Maryland 21208-Baltimore Condo 

1 Gristmill Ct. #303 Annen Woods Baltimore, Md.21208

Not Too Big... Not Too Small.. The Perfect Baltimore Condo..3031 Fallstaff Rd. Baltimore,MD 21209

condo: Forget the Snow...Live in a Condo! -

 

condo: 3041 Fallstaff Rd Baltimore, Md. 21209 The Towers Condominium

6300 Red Cedar Place #406 Heather Ridge- Baltimore, Maryland 21209

Upper Park Heights Condo! 6606 Park Heights The Imperial Condo Baltimore,MD 21215

                                     Baltimore Condo HomeRome Realty

 The delivery of the condo documents is crucial...the buyer has 7 days after receipt to recind the offer with no reason and with no penalty.

 With HOA (Home Owner Association) buyers have 5 days. If you are listing condo properties or those with mandatory associations, get those documents ordered at the time of listing or when you feel an offer is coming in. It is better to present the documents along with the ratified contract. Then the 5 or 7 day review period, can coincide with the home inspections. Waiting until you are well into the transaction and holding your breath knowing the buyer has that option to back out...can be devestating in this market.

Baltimore Condos..I List 'em...I Sell 'em...I Don't Forget the Condo Docs!

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Author of Real Estate the Rome Way

www.HomeRome.com

410-530-2400

Margaret Rome on Zillow

 
This post has been included in Maryland Real Estate News Baltimore City County, MD Real Estate News
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14 Comments on Baltimore Condos..I List 'em...I Sell 'em...I Don't Forget the Condo Docs!

AUG
29
2010
1,333,382 Points 128 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Karen inspired this post...Things to Consider Before Buying a Condo
10:42am • #2
953,346 Points 52 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

These are so important to the buyers, especially if they have questions about what is allowed, and also for company trucks!   Good job Margaret!
10:46am • #3
135,851 Points Called Shot Master

Margaret, reviewing the documents carefully and in a timely fashion.....so important.  Thanks for issuing the reminder.
10:49am • #4
424,630 Points 39 Featured Posts Hit Router Called Shot Master

Margaret - It is a good idea to have these handy upfront.  When there is a contract, the buyer wants them immediately.  In Florida, the buyer only has three days to review.
10:54am • #5
1,582,982 Points 429 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Margaret - it is really smart adn thinking ahead to get the docs upfront. Apart from the loan approval, getting the condo docs  is commonly the source of delays.

Many HOAs here are terrible about getting these to the buyers in a timely manner. Most require an upfront fee to produce them, and while that is normally something buyers ask sellers to pay for, with short sales and REOs it is often the buyer's nickel.

Jeff
11:16am • #6
532,055 Points 45 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

I wish some of the agents in this area took the importance of getting the docs in on time to heart. So many here take a leisurely attitude to getting the buyer the docs
12:18pm • #7
606,226 Points 71 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Dealing with condo docs, and the HOA is never easy.

So anyone looking for BALTIMORE CONDOS should go to the clear local expert Margaret Rome for assistance !!!

 
1:06pm • #8
1,333,382 Points 128 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Sheldon, These associations can be challenging and we need to stay on top. Thank you for your vote of confidence.

Gerry, When they lose a sale, that leisurely attitude will change.

Jeff, All of ours require a fee and they will not order without payment upfront. By law the association has 21 days to produce the docs. We don't ever want to wait that long.

Wendy, Three days should be enough time but ours is 7 for condos and 5 for HOA.

Mary Kay, Thanks for stopping by.

Joan, Yes most associations have rules about company trucks, taxi cabs etc...
3:33pm • #9
760,317 Points 69 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Oh yes, the nightmare of getting those CC& Rs.  We are always at the mercy of the Associations.  Excellent advice, because those can take a while to get.
3:47pm • #10
1,333,382 Points 128 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Jane, It is important to be  especially nice to the people working at the management companies. Enjoyed speaking with you today. Thanks for the advice.

 
4:27pm • #11
374,842 Points 2 Featured Posts Localism Sponsor Outside Blog

Margaret - down here they have 3 days to review the condo docs.  I agree with getting them delivered as soon as possible.  Its a good plan to get as many contingencies out of the was as quickly as possible.
9:20pm • #12
1,333,382 Points 128 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Pam, Is it 3 days for HOA and Condos?
9:29pm • #13
SEP
02
2010
678,822 Points 51 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Margaret, I just listed a condo and got all the docs. Wow, an inch of two sided print to copy. Wouldn't want to have to take a test on it! Anyway, I'll have them when our potential Buyer asks!
10:45am • #14
1,333,382 Points 128 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Connie You are one smart agent! Hope you need to give then to the right buyer soon.

Margaret
10:57am • #15


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Margaret Rome Baltimore, Md. 410.530.2400

HomeRome Realty

Baltimore, MD

More about me…

HomeRome Realty Author:Real Estate the Rome Way 410-530-2400

Address: Baltimore, Md, 21209

Cell Phone: (410) 530-2400

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