Selling in a condo or HOA: the resale certificate and the buyer's review

What the resale certificate is

Washington's Condominium Act requires the association to give a selling owner a resale certificate on request, and the Washington Uniform Common Interest Ownership Act imposes a similar requirement on communities it governs, including newer non-condo HOAs. The certificate is a signed statement from the association, together with attachments, that tells the buyer what they are joining and what it costs. NWMLS Form 27 is the certificate for condominiums and Form 27CIC is the version for other common interest communities; your association or its management company fills it in.

The certificate is not the same as the Form 17C seller disclosure, which you complete yourself, and it is not the same as the recorded declaration and bylaws, although those are attached to it. It is the association speaking about the unit and the community as of the date it signs.

Older HOAs that do not fall under either act do not issue a statutory certificate, but if your contract includes the homeowners association review clause on Form 22D, the buyer still receives the governing documents and has a review period. Your agent will confirm which applies to your community.

Ordering it: who, how long, and what it costs

You order the certificate from the association or, more often, from the management company, using its owner portal or a resale-document service it designates. Your agent or Jennifer, RexMont's transaction administrator, can place the order with your authorization, and on most RexMont listings it is ordered before the home goes live so it is ready at mutual acceptance.

The statute requires the association to furnish the certificate within ten days of the request. Management companies frequently take the full period, and some charge for faster turnaround. The law caps the fee the association may charge for preparing the certificate; rush fees, document delivery charges, and any separate account statement fee are common additions, and they are the seller's cost. Ask for the itemized amount when you order.

If your community is self-managed, the board president or treasurer signs. Give them the form early and offer to gather the attachments; volunteer boards are the slowest link in the chain.

What the buyer reads in it

The certificate and its attachments answer the questions a careful buyer asks about a community. The core items are set by statute.

• The current monthly assessment for your unit and any unpaid amounts on your account.
• Any special assessment that has been levied or that the board has approved, and any it is considering.
• The association's operating budget and the balance of its reserve fund, with the most recent reserve study if the association has one.
• Pending lawsuits or claims involving the association, and any judgments against it.
• The declaration, bylaws, rules, and any amendments, including restrictions on leasing, pets, parking, and alterations.
• Insurance the association carries, and what the owner is expected to insure separately.
• Any known violations of the governing documents or building code affecting your unit, and any right of first refusal the association holds.
• The minutes of recent board and owner meetings where the association provides them.

The buyer's review window and what an objection means

Once the complete package is delivered, the buyer has a review period set by statute and stated on the form. Under the Condominium Act the buyer may cancel the purchase within five days after the resale certificate is provided; the common interest community act carries a matching five-day right. If the certificate is never delivered, the buyer's right to cancel does not expire before closing, which is why delivery, not ordering, is the date that matters.

The buyer's choice inside the window is binary: proceed, or cancel in writing and recover the earnest money. Unlike the inspection contingency, the resale certificate does not set up a repair negotiation. A buyer who is troubled by a pending special assessment or a low reserve balance may ask you to credit part of it, but that is a separate proposal your agent brings to you; the form itself gives the buyer only the right to walk.

Jennifer records the delivery date and the end of the review period and confirms with the buyer's agent that the package was complete, so no one can later claim the clock never started.

Special assessments, transfer fees, and moving out

If a special assessment has been levied on your unit, the contract decides who pays it. Form 28 and the Form 22D clause address assessments that are due or that have been approved before closing, and the usual arrangement is that installments due before closing are yours and those after are the buyer's, unless the parties agree otherwise. Disclose any assessment you know about, including ones the board is only discussing, on the Form 17C; the certificate will show them anyway.

Most associations charge a transfer or move fee at closing, and some require a working-capital contribution from the buyer. These appear on the settlement statement and escrow collects them from whichever side the governing documents assign.

Move-out is governed by the rules attached to the certificate. Common requirements are reserving the elevator or loading area, using protective padding, limiting moves to weekday hours, and returning fobs, garage remotes, and mailbox keys to the manager or leaving them for the buyer. Ask the manager for the move-out checklist as soon as you have a closing date, and let your agent know what the buyer needs to receive at possession.