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NEW CONDO GUIDELINES

The power point presentation below is an excellent overview of how the updated guidelines resulting from the surfside event affect condominiums. It is important whether you are managing a community association, or an agent working with buyers/sellers, to understand what is required when going through the approval process, and how to request needed documentation.


New Condo Guidelines for 2022 KK
.pptx
Download PPTX • 360KB

In addition to what is referenced in the presentation, here are my recommendations of what to request when selling or purchasing in a condominium. Here is a list of items that Sellers should provide to their agent when listing their home. If you live in a community that has a management company, most of these documents are available inside of your homeowner portal. If there are documents that aren't readily available, you can submit a Books and Records request to the Board and/or management company. Refer to your Declarations and Bylaws for details on what you can request and how to request it.

Agents! Make you sure have a checklist to provide to your sellers, so that they can request these items to add to your listing. Make it simple for them! Management companies can have hesitation in providing certain documents directly to buyers because they aren't members of the association, but they can provide documents to sellers, so long as they follow the books and records request process that is available to them. Buyers! The same list of items mentioned above are documents you should request during your due diligence. Please be aware that the management companies may not be able to provide these to you directly, so make sure you understand the proper channels to get the information you need.

If you still have questions, ask your agent, your lender, and/or the management company, and someone will be able to guide you through the process.

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