Contract Close-Up: 3 Options for the Resale Certificate in the Residential Condominium Contract (Resale)

November 01, 2018

Paragraph 2C of the Residential Condominium Contract (Resale) (TREC 30-13, TAR 1605) provides three options regarding the condominium’s resale certificate, which the Texas Property Code requires the seller to provide in most condo sales.

The first check box indicates that the buyer has already received the certificate.

The second check box indicates that the buyer has not received the certificate and provides a blank to fill with how many days after the effective date the seller has to provide it. Under this option, the buyer may cancel the contract before the sixth day after receiving the certificate by hand-delivering or mailing written notice of cancellation to the seller by certified mail, return receipt requested. The earnest money will then be refunded to the buyer.

The third check box allows for the buyer and seller to agree to waive the resale certificate requirement if the seller provides an affidavit that the information was requested from the association and the association failed to provide the certificate.

The Request for Information from an Owners’ Association (TAR 1405) can be used by the seller to request documents from the association, and the association can use the Condominium Resale Certificate form (TREC 32-3, TAR 1921) to provide the information.

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