Glossary
What is a resale certificate?
The disclosure package an HOA or condo association furnishes when a home in the community is sold: what is owed, what is coming, and the documents that govern the home.
Also called resale package, resale disclosure, HOA resale certificate.
In Havn
Havn drafts the resale certificate from the community's record, with the state's fee cap and deadline checked, and hands it to a manager or board officer to review and sign.
Resale certificates, state by stateA resale certificate is the association's written answer to the questions a buyer, a lender, and a title company ask before closing. It states the balance owed on the home, the regular assessment and when it is due, any special assessment approved or under discussion, open violations on the home, pending litigation, the insurance in force, and the budget and financial statements. The governing documents travel with it.
Many states require the association to furnish it within a set number of days of a request, cap what the association may charge for it, and make the stated amounts binding on the buyer. The name changes with the state: an estoppel certificate in Florida, a status letter in Colorado, a 22.1 disclosure in Illinois, and a 6(d) certificate in Massachusetts.
The seller or the seller's agent usually orders it, the buyer's lender and title company rely on it, and a certificate delivered late or with a mistake can cost the association the fee or the difference.
Common Questions
Who pays for a resale certificate?
Usually the seller, as a closing cost, though the governing documents and the purchase contract can shift it. The association's fee is often capped by state law.
How long is a resale certificate good for?
It depends on the state. Several set a validity period in days; where none is set, lenders and title companies ask for an updated one if closing slips.
Keep Reading
Guides
- HOA Transfer Fees: Who Pays and What They CoverThree different charges show up on a closing statement under the association's name.
Laws and Documents
- Resale certificatesThe document itself, state by state, assembled from the association's records.
- Resale certificate fee capsAll 51 jurisdictions' fee caps and deadlines in one table.
- HOA laws by stateEvery state's association statutes and resale rules on one map.
See how Havn handles it with your own community.
HOA management software with a homeowner portal owners actually use. Resale documents are included; the requester pays for each one.