In the context of selling a condo, what document proves that all condo fees are up to date?

Prepare for the Massachusetts Real Estate Salesperson licensing exam. Utilize a variety of study modes, including flashcards and multiple-choice questions with comprehensive explanations. Achieve exam success!

The document that proves all condo fees are up to date is the 6D Certificate. This specific certificate is a legal document issued by the condo association, which verifies that there are no outstanding dues or special assessments owed by the seller. It is an essential piece of paperwork in real estate transactions involving condos because it protects the buyer from inheriting any unpaid fees from the previous owner.

The 6D Certificate is particularly important because, in many cases, it is a requirement for closing a real estate deal for a condominium. Buyers will want assurance that they won't be responsible for any unpaid fees that could lead to a lien on the property. Obtaining this certificate can also expedite the closing process as it avoids potential disputes regarding any overdue amounts.

While other documents like the Condo Association Certification or the Certificate of Good Standing may provide valuable information about the association and its overall health, they do not specifically give confirmation that all fees are current. Similarly, a Management Statement may outline management practices and condominium rules but does not confirm the status of fee payments. Thus, the 6D Certificate is crucial and serves a specific purpose in the context of ensuring that the condo fees are up to date.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy