HOA ADDENDUM#9 DOCUMENTS

There is a new version of an old document being added to HOA RESIDENTIAL properties in this region of the country. You all know of the re-sale cert. for Condo's that give the minutes and financial data ect. well because FHA doesn't require that for single family homes in residential the local MC's and REALTOR'S have come up with their version of a resale cert. to cover this section of realstate sales - and it is a money maker for them! Some non-condo HOA's are all-ready retaining their meeting minutes on-site as well as prohibiting(in writing)their MC from doing this and putting those badly needed funds into their coffers.Some where buried in your MC contract there is a sentence that says the MC will retain the meeting minutes - that's where the opening(loophole) is so it would be adviseable to research and correct this - we are talking Big money here! For example , $275 to prepare + $60 for 1year of minutes +$50 for the annual Financial report = $385 x the 14 that were sold in my community last year =$5390 in income that could of went into our Bank account instead of the MC's. This IS something your secetary can do! If they don't then you as a seller can write in you counter-offer back to the buyer that a seperate check be written at closing to you to cover the cost's of these documents, make sure your Board is aware of this going on or may-be you'll fine out like we did - the Board president OK'd this awhile ago! The name of this is HOA SALES ADDENDUM#9 Documents for this region of the country. Hope this is helpful.