Condominium Fees - The Resale Certificate

As you may, or may not know, certain fees charged by Condominium Associations and Property Management Companies are regulated by law. And one such law has recently changed.

If you sell a condominium you are required to give the Buyer what is called a Resale Certificate, which discloses the rules of the building, financials, budget, etc. The fee for this document was previously caped at $150 but affective in April 2011 this fee has risen to a cap of $275, a significant increase.

This is something you will want to be aware of when thinking about selling your condo as it is does affect your bottom line.

If you are thinking of selling or just have questions, don't hesitate to contact us!