The Maryland Condominium Act requires that the seller of a unit provide the purchaser with certain information regarding the specific condominium unit and the condominium association as a whole, so the consumer may make an informed decision regarding the purchase of the condominium. A “Resale Certificate” is information required to be provided by law by the seller to the purchaser.
The resale certificate contains the answers to 12 questions posed by the Maryland Condominium Act. Information such as: what the monthly condominium fee is, if the unit’s account has been kept current, the financial status of the condominium association, who holds the master insurance policy for the association, if there are any architectural violations pending on this unit, if the association is involved in any legal suits, and what amenities are available on the property for the use of residents.
Resale packages are now processed electronically. Visit www.homewisedocs.com to place your order and make the payment for a resale package.