Resale/Closing

Turnaround timelines for Resale Disclosure packets, Dues Current Letters and Certificates of Insurance are up to two weeks – No exceptions – See below.

**The order of the release of documents is as follows: Resale Disclosure Packet is picked up, association receives the required signed receipts from the buyer (included in the Resale Disclosure Packet), upon receipt of the buyers signed receipts and email requests from title companies, our Dues Current Letter & Master Certificate of Insurance are released.

RESALE DISCLOSURE PACKETS:
Agents – You must contact the River Woods office by email ri*********@*****st.net to request a Resale Disclosure Packet. Resale packets are not available in PDF form. We will email you when the packet is available for pick up, by either the listing/selling agent, buyer, or buyers’ agent. Sellers can not take possession of the packet.

Turnaround timeline will be up to 2 weeks from date of request. Packets are not mailed, no exceptions. Also, buyers have a 10 day Right of Rescission once they receive the packet. Please factor this into your timeline.

DUES CURRENT LETTER/ MASTER INSURANCE CERTIFICATE:
For the release of our Dues Current Letter & Master Certificate of Insurance – the two week turnaround timeline for the Dues Current Letter and Master Insurance Certificate begins when the signed buyer receipts have been returned to the association, not from the date of any email which requests the dues letter or master certificate.

** No exceptions**

The cost for the resale documents is $400.00 (per packet) paid by the seller – collected at closing. If a sale falls through and the packet needs to be returned for review and prepared for a new buyer, the fee will be $50.00 for each review, paid by seller – collected at closing.

The cost for PUD/Project Questionnaires for unit sales or refinancing is $100.00.

The cost of additional master insurance documents – outside of the Certificate of Insurance – for lender underwriting of Fanny Mae or Freddy Mac is $100.00.

A RESALE DISCLOSURE PACKET & CLOSING DOCUMENTS ARE REQUIRED FOR EACH AND EVERY SALE TRANSACTION.