This resale certificate is a disclosure document required under state laws such as the Pennsylvania Uniform Planned Communities Act. When a homeowner sells a unit in a planned community or HOA, they must provide the buyer with a completed resale certificate before the sale closes. The certificate confirms the unit's current standing in the association at the time of sale and protects both the buyer and seller by ensuring all known obligations are disclosed.
The certificate covers all details relevant to the buyer's decision. These include outstanding dues or special assessments owed by the seller, the HOA's current monthly charges, the operating budget, insurance coverage, and any pending litigation the HOA is involved in. It also reports reserve funds set aside for capital repairs and discloses any restrictions on the unit, subletting policies, class voting rights, and declaration details. Buyers and sellers should both review these items before proceeding.
Resale certificate requirements vary across states, and in many HOA communities the resale certificate required by law must be delivered within a set number of days before closing. Sellers in most states are responsible for ordering resale certificates from the HOA or property management company. After receiving the certificate, buyers typically have a review period during which they may cancel the contract if the hoas' disclosure reveals unexpected obligations or violations. Fees, timelines, and required content for resale certificates differ by state and by the association bylaws.
| Question | Answer |
|---|---|
| Form Name | Association Resale Certificate Form |
| Form Length | 2 pages |
| Fillable? | No |
| Fillable fields | 0 |
| Avg. time to fill out | 30 sec |
| State | Pennsylvania |
| Required by | HOA sellers to provide buyers at closing |
| Other names | hoa resale certificate, resale disclosure certificate pennsylvania, homeowner association resale certificate, certificate association resale, pa resale certificate form, resale certificates pa |