Resale
Estoppel Certificate. Resale Certificate. Resale package. Whatever the name, the information inside is critical.
Who do you trust to tell you the full story about the home you want to buy? Purchasing a home in a condominium, co-op or homeowners association (HOA) requires due diligence that goes above and beyond.
Your attorney, CFP and realtor have years of experience in their respective fields, but generally lack the requisite skills to analyze your resale certificate or to explain the benefits, challenges and risks of community association ownership.
Property due diligence can help you avoid a $100,000+ special assessment.
Don't regret! Get SMAARTE before you sign on the dotted line to purchase a condominium (COA), co-op or HOA property.
Why SMAARTE?
We've spent thousands of hours getting to know community associations through financial statements, resale certificates, governance and operations.
Resale Review from the SMAARTE Group delivers:
- a structured approach to understanding the risks associated with your potential real estate purchase
- verification that the documents you've received meet the requirements of state law
- a document checklist with written feedback about every item
- opportunities to ask questions and receive answers 1:1 in real time
- answers now, not a wait in a queue
- the SMAARTE Guarantee
What We Review
Every item on the checklist comes back with written feedback.
Financials
Balance sheet, income and expense ledger, and current operating budget.
Governing Documents
Declaration and bylaws, rules and regulations (R&Rs), policies, procedures and resolutions.
Use Restrictions
Lease restrictions, occupancy restrictions, right of first refusal and restraints on alienability.
Master Insurance
What the association's policy actually covers, and where your own coverage has to start.
Meeting Minutes
What the board has been discussing, deciding and deferring.
Litigation
Pending lawsuits, civil actions and unsatisfied judgments.
Reserve Study
Whether the plan and the funding match. The Myth of Full Funding
... and more
If it is in the package, we review it. And we prompt you for more.
Simple Pricing
One price per review. No upsell, no tier to decode — every review is the full review.
Buy more than one and each costs less.
Every review includes
- a document checklist with written feedback about every item
- verification that your documents meet the requirements of state law
- a structured read of the risks in your potential purchase
- answers now, not a wait in a queue
- the SMAARTE Guarantee
Resale Review Example
A statement disclosing the effect on the proposed disposition of any right of first refusal or other restraint on the free alienability of the unit.Provided
A statement of any other fees payable by unit owners.Not provided
A statement of any capital expenditures proposed by the association for the current and two next succeeding fiscal years.Provided
A statement of the amount of any reserves for capital expenditures and any portions of those reserves designated by the association for any specified project.Finding
The most recent regularly prepared balance sheet and income and expense statement, if any, of the association.Finding
The current operating budget of the association.Provided
A statement of any judgments against the association and the status of any pending suits to which the association is a party.Provided
Open any line to read the reviewer's written comment. This is an excerpt of one real review.
Next Steps
Purchase a Review
One review, one price.
Submit Your Documents
Package Review
Every page, checked against what state law requires.
Answers Delivered
Written feedback on every item, plus a 1:1 meeting to review it.
The SMAARTE Resale Tool
A self-service way to work through your resale package online, against the same checklist we use.