This page is a resource for homeowners or their realtors interested in selling a property in the Centre Hills Homeowners Association
Requesting a Resale Certificate
At the time of obtaining an Agreement of Sale, please have your sellers agent complete the form linked here. The form page outlines the information that is required.
HOA Member Properties
- All of Ballybunion Road
- All of Tulira Lane
- 879-983 Greenbriar Drive
- 413-498 Hunter Avenue
- 1262-1376 Haymaker Road
Do I Need a Resale Certificate
If the property is within the addresses listed above and you plan to sell or transfer ownership to another person, a Resale Certificate is required.
What Is a Resale Certificate?
An HOA resale certificate discloses the status of the seller with regard to the association. This includes any unpaid fees or past-due payments as well as fees that might be due at closing. It should also show any pending violations and other information relating to the property to be transferred.
The resale certificate also provides the buyer with important information about the homeowners association. This includes details about the current HOA budget, any anticipated expenditures for the upcoming year, and the amount the association has in reserve. It should also reveal any pending litigation the association is involved in.
The purpose of the resale certificate is to offer protection to both the buyer and the seller as well as the homeowners association. It gives sellers the opportunity to fully disclose their financial position with the HOA. At the same time, it reduces financial risk for the association.
Should the seller have any outstanding dues, it will become the buyer’s financial obligation to pay those debts. In short, the resale certificate ensures compensation for the HOA. On the buyer’s part, the resale certificate lets them know that the HOA they are buying into is solvent and in good financial condition.
The resale certificate is one of two parts of an HOA resale package. The other part of a resale package is the association’s governing documents. These documents work to inform the buyer of the HOA’s bylaws, covenants, and rules.