Selling your home?
Maryland law requires homeowners association and condominium owners to disclose specific information regarding the community and their property upon resale including, but not limited to, all official association documents, covenants and restrictions, a statement of fees and/or assessments of the association, a statement of any outstanding rule violations, and more.
What does it include?
A resale package includes the documentation of the association to include but no limited to:
- Articles of Incorporation
- Declaration of Covenants
- Rules and Regulations
- Financial data to include current year budget and balance sheet.
Letter of Compliance
Instrumental to the resale documentation is an onsite inspection of your home to ensure compliance with the association covenants as well as rules and regulations. Based on that inspection as well as the payment status of assessments, the package will include either a Letter of Compliance or Notice of Non-Compliance.