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The Legal Blog, brought to you by NVAR's Professional Standards department, helps you stay on top of the latest rules and regulations in the industry.

I would like to order two copies of the packet or certificate update. Will I be charged for the second one?

Sep 2, 2016

Contract Issues

Question: I would like to order two copies of the packet or certificate update. Will I be charged for the second one?

Answer: If the update is requested by a buyer or a settlement agent, the seller or his agent shall receive a copy of it at no additional cost. However, unlike the provisions for the original disclosure packet, the statute does not provide for additional free copies of the update to the purchaser, the purchaser’s agent or another designated person. If purchasers or their agents request an update, they may be charged no more than $50.

For certificates, the statute provides for the same fee structure as for CIC managed associations.
Group(s):
  • Contract Issues