HOA Estoppel Letter
To insure a clean transfer of ownership when purchasing a condominium, purchasers or escrow/title agents should acquire and review an up-to-date HOA Estoppel Letter also known as ‘Estoppel Certificate’ from the homeowners association before closing. It appears that, in the resale market, the estoppel certificate is as important or equivalent to the disclosure statement required in the sale of new homes.
An estoppel certificate will contain information with respect to the common expenses and obligations that the current owner is responsible for. Other vital information included is: whether association needs to approve new owner, upcoming special assessments, and additional sub-associations. It also outlines any existing balances and violations with respect to the association bylaws. Acquiring this information is timely and costly.
Let Reliable Lien Search be the support you need in obtaining your next estoppel certificate letter. Convenient and hassle free service. Reliable Lien Search is at your service.