Condominium Directory to be Launched at Real Estate Convention
New online aid to REALTORS® and real estate professionals statewide
Wisconsin REALTOR® Association 2008 Convention, Wisconsin Dells, WI - September 7, 2008 - Wisconsin Condominium Source, LLC today announced that they have opened traffic to a website dedicated to providing condominium documents and management company information to real estate professionals who practice in Wisconsin. The website address is http://www.CondoDisclosure.com
The website will offer electronic delivery of required condominium documentation to professionals working with owners and prospective purchasers of condominium units in Wisconsin. State law requires condominium associations to make their executive summaries for their properties available as matter of disclosure prior to buyers drafting an offer. The problem is that most associations and/or their management agencies do not have up-to-date documents or have difficulty providing those documents in a timely matter.
Upon negotiating an offer to purchase, additional volumes of documents called declarations are also required to be furnished by associations to the buyer prior to closing. Many Wisconsin condominium associations are often run by volunteer unit owners, unaware of the strain such responsibilities create.
"Before this website we had to keep hundreds of pages of condominium declarations at our office, not get them mixed-up with each other, make sure they were current and pay first class postage to overnight them to title companies, real estate agents or buyers. Now we just direct our clients to CondoDisclosure.com," says Chad Kodanko one of the founders and owner of a property management firm in Door County.
There are currently over 3200 condominium associations registered with the site. Initially only association management information is being listed and is searchable by condominium name and zip code. Upon registering with the site (free of charge), each association and/or its managing agent will be able to post the required documents compliant to state laws. When made available by the associations, executive summaries and contact information will remain free of charge for all users of the site while detailed documents may be obtained by professionals or parties to a transaction for a $20 fee per each condominium.
"Wow, wow, wow. This idea is ten years ahead of its time" - Roger Raasch, Facilitator - Wisconsin Condominium Association, Oak Creek, WI.
About Wisconsin Condominium Source, LLC
Conddisclosure.com is owned by parent company Wisconsin Condominium Source LLC. Principle officers and founders include Kevin Nordahl and Chad Kodanko. Both are from Door County Wisconsin. Nordahl is a Broker/Owner of a local real estate firm. Kodanko is a co/owner of a property management firm. Both focus on the needs of condominium association management and parties involved in the transfer of ownership. Supervision in the development of the business included consult with Wisconsin REALTOR® Association attorney Debi Conrad, Rick Staff Consulting of La Crosse, WI and the law offices of Pinkert Law Firm LLP, Sturgeon Bay, WI.
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