Property Owner’s Association
Beside home inspections, the other common contingency within a purchase offer is a property owner’s association contingency. If a home is located in an established property owner’s association (more commonly known as homeowner’s association), the seller must provide all copies of association documents prior to closing.
These documents are generally ordered through the association once the buyer removes their home inspection contingency. It can take up to 2 weeks for this packet to be delivered.
Once the association packet is delivered, the buyer has 3 days to review and decide if terms are acceptable. If any questions arise, contact the association directly.
Hampton Roads Real-e-statement is written by Alyssa Godwin, a Realtor with Liz Moore and Associates. For questions regarding buying or selling contact Alyssa at 757-329-6161 or firstname.lastname@example.org. You can also find Alyssa on Facebook or on the web at www.lizmoore.com/alyssagodwin.