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Condominium sales present special issues
that require a seller to understand his or her responsibilities
before listing a unit for sale. Condominiums provide their
owners with a unique form of ownership, which includes many
benefits provided to them by the condominium association and/or
management company. A condominium owner preparing to sell
a unit must make the buyer understand how the condo works,
which usually involves allowing the buyer an opportunity to
review the governing documents (often known as the “condo
docs”).
Sellers must know whether their condo docs provide
a right of first refusal to the condominium association, the
developer, or any other party before they can freely sell
their unit. In newer developments, particularly where the
developer still owns some of the units, the developer may
retain the right to match an offer made by a prospective buyer.
A seller must provide proof at the time of closing
that their condominium association dues, or “condo fees”
are fully paid. This is done on a form prepared by the condominium
trust, association or management company. This form, called
a “6(d)” certificate, acts in the same way that
a mortgage discharge or Municipal lien certificate does, and
provides proof in a form suitable for recording at the Registry
that there is no potential claim for past common area fees.
For more
information on selling a condo in Massachusetts, or if you
are looking for a real estate lawyer in Massachusetts, please
contact Rob D. Stewart. If you prefer,
you can also telephone our offices in Boston seven days a
week at toll free 866-414-0400.
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