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

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Real Estate Broker/Owner with HomeRome Realty 410-530-2400 311291
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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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Margaret Rome
HomeRome Realty
Broker/Owner/Realtor®

Baltimore, Maryland


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Comments(14)

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Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Karen inspired this post...Things to Consider Before Buying a Condo

Aug 29, 2010 03:42 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

These are so important to the buyers, especially if they have questions about what is allowed, and also for company trucks!   Good job Margaret!

Aug 29, 2010 03:46 AM
Mary Kay Hopkins
Mary Kay Hopkins, LLC e-PRO, GRI, CRS, CRB - Lake Charles, LA
e-PRO,GRI,CRS

Margaret, reviewing the documents carefully and in a timely fashion.....so important.  Thanks for issuing the reminder.

Aug 29, 2010 03:49 AM
Wendy Rulnick
Rulnick Realty, Inc. - Destin, FL
"It's Wendy... It's Sold!"

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.

Aug 29, 2010 03:54 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

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

Aug 29, 2010 04:16 AM
Gerry Michaels
Glasswork Media Arts - Gettysburg, PA
GettysburgGerry Social Meida

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

Aug 29, 2010 05:18 AM
Sheldon Neal
Bergen County, NJ - RE/MAX Real Estate Limited - Maywood, NJ
That British Agent Bergen County NJ

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 !!!

 

Aug 29, 2010 06:06 AM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

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...

Aug 29, 2010 08:33 AM
Jane Peters
Home Jane Realty - Los Angeles, CA
Los Angeles real estate concierge services

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.

Aug 29, 2010 08:47 AM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

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.

 

Aug 29, 2010 09:27 AM
Pam Dent
Gayle Harvey Real Estate, Inc. - Charlottesville, VA
REALTOR® - Charlottesville Virginia Homes / Horse

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.

Aug 29, 2010 02:20 PM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Pam, Is it 3 days for HOA and Condos?

Aug 29, 2010 02:29 PM
Connie Harvey
Pilkerton Realtors - Brentwood, TN
Realtor - Nashville TN Real Estate

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!

Sep 02, 2010 03:45 AM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

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

Margaret

Sep 02, 2010 03:57 AM