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EllisM1 (California)
Posts: 2
Posted:
Can anyone explain what this means in basic terms, when am I obligated to tell my HOA that my condo is going to be sold?

Notification of Sale of Condominium. Concurrently with the consummation of the sale of any condominium under circumstances whereby the transferee becomes an owner thereof, or within five business days thereafter, the transferee shall notify the board in writing of such sale.

Thank you.
GeorgeS21 (Florida)
Posts: 3,808
Posted:
What do your governing documents say? How do they relate to California statute? What does the management company (I'm assuming there is one) say?
MarkW18
Posts: 1,290
Posted:
Quote:
Posted By GeorgeS21 on 02/24/2020 9:20 AM
What do your governing documents say? How do they relate to California statute? What does the management company (I'm assuming there is one) say?

I am assuming that if they knew the answer, they wouldn't be posting here? You think?????
MarkW18
Posts: 1,290
Posted:
I found a copy of a CCR recorded in 1983 with the exact language. Being that it is that old, I wouldn't worry about. Most likely it was a procedure set up when homes were sold and transferred within a specific association for someone who might have been keeping track of such transfers to update their records on new members.
EllisM1 (California)
Posts: 2
Posted:
Thank you. I will likely just send an email to the board a couple days before the sale closes as a notice.

We don't have a management company that can help answer these types of questions.
KimberlyW2 (Tennessee)
Posts: 38
Posted:
You may also find the title company won't close without a full HOA questionnaire filled out by a member of your Board. Most lending institutions want to know how many homeowners are in arrears, if your account is current, what percentage of rentals vs. owners you have, what insurance you currently hold. That type of thing. My HOA has a management company that handles this - for a pretty high fee, unfortunately- so, don't expect to get through this process without having to jump through some hoops to get to closing.

That said- I'm curious why you would be hesitant to square things up with your HOA? Make sure you are up to date on assessments and that it will be a clean break. Unless of course, you are not up to date?? If you have no loose ends to leave I suggest being a good neighbor and notifying your HOA you will be leaving and to be prepared to remove your name and information from the record and to close out your account. That way they will be monitoring your address for the new owner.

K.
MarkW18
Posts: 1,290
Posted:
If your home would go through escrow, then provide the escrow or title company with the registered agent's name. You can find this on the Secretary of State site, this is their link: https://businesssearch.sos.ca.gov/

There are a number of documents required by State Civil Code that must be provided to the new buyer. Not having a management company, could, but not always, poise a problem. I personally handle about 12 of these request per month. It takes me 5 minutes to handle each one.
GeorgeS21 (Florida)
Posts: 3,808
Posted:
The point, MarkW, is for posters to do their own basic work before asking questions.

In this manner, the forum members can offer more accurate assistance - and, not feel like they are doing poster's work for them.

I would still recommend the site manager/owner consider a standardized precursor information component wherein posters could answer basic questions about their HOA/COA, and perhaps even have a method to provide links to their community websites, and state statutes.
MarkW18
Posts: 1,290
Posted:
Quote:
Posted By GeorgeS21 on 02/24/2020 11:53 AM
The point, MarkW, is for posters to do their own basic work before asking questions.

In this manner, the forum members can offer more accurate assistance - and, not feel like they are doing poster's work for them.

I would still recommend the site manager/owner consider a standardized precursor information component wherein posters could answer basic questions about their HOA/COA, and perhaps even have a method to provide links to their community websites, and state statutes.

WOW, that's a mouthful

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