Hi Ellie, I have just got off the phone with my Home Owners Association and ordered the resale package as you said I needed to do. The fee was $175. Does the buyer pay any of the fees for the resale package?
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Good afternoon Mr. Seller
I am very glad that you took care of this right away.
The sale of your home is subject to the requirements of the Maryland Homeowners Association Act. The Act requires that you, the seller, disclose to the buyer, at or before the time the contract is entered into, or within 20 calendar days of entering into the contract, certain information concerning the development in which your home is located. The fees for this documentation can vary from HOA, but yes, this is a fee that is incurred by the seller.
If you review the net sheet that we discussed when we signed the listing you will see that there was a $200 estimation for this expense.
Be sure to contact me as soon as you have the resale package so I can get it to the buyer's agent. The sooner the buyer has an opportunity to review the rules and regulations, the by-laws and the restrictions as well as the financial condition of the HOA in the community, the better it is for the transaction. The buyer will have 5 days to do this on receipt. Per the MHAA they can use this to actually "get out" of the contract with no explanation. If that is their intent then we obviously want them to do that sooner rather than later.
Feel free to call or e-mail if you have any more questions.
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