- Advise the seller they are obligated under State law to provide specific information and documents to the buyer for any and all Associations affecting the property.
- Ask the seller if they are aware of any pending or proposed Special Assessments or Litigation affecting the Association.
- Collect from the seller copies of the statements for EACH Association affecting the property.
- Contact the Association and ask for their list of documents available (Civil Code §1368), pricing (including advance payment requirements) and turn times. Also, double check if there are other Associations they are aware of affecting the property.
- Have the seller locate any Association documents they have and advise them there will likely be an up-front cost to obtain any documents that are missing.
- If the paper documents are all that is available, digitize the document so they can be easily provided to prospective buyers and/or escrow for early clearance of the CI Disclosures.
Note: Many Association Management companies now use online providers which allow for the agent or escrow officer to order the required documentation and give the seller a log in to pay by credit card so the order can be completed. State law allows the Association representative 10 days to provide the requested documents, beginning from when any required advance payment is received. AVOID additional “RUSH” charges to meet contract deadlines by ORDERING EARLY!
Taking these steps at the point of listing instead of waiting until escrow is open could mean the difference between a cancelled sale and an on-time, closed escrow.