Common Interest Communities FAQ

 
Common Interest Communities FAQ

When does the 3-day right of cancellation begin/end?

What happens if the Resale Disclosure Packet is outdated or incomplete? 

Can Buyer agree to waive the three-day right of cancelation?

The parties agreed to amend the Residential Sales Contract to remove all requirements on Seller to comply with Property Owners’ or Condominium Owners’ Associations notices of violations related to the physical condition of Property. The parties signed Paragraph 2(B), Checkbox #5 of the Contingencies/Clauses Addendum (K1344). Later, Buyer discovered in the resale disclosure packet that Seller received a notice of violation for failure to pay association dues. Is Seller responsible for the dues?

What if a property is subject to more than one association? Is the buyer entitled to more than one right of cancellation?

Commercial Council