Often condo declarations state that some building components are to be paid for exclusively by one group of owners. This may include all residential owners, or all owners within a single building. This means that reserve contributions for those components must come only from the units to which the cost is allocated. We frequently see reserve…
Tag Archive: washington state
Change in Resale Certificate Law
Whenever a condominium unit is sold in Washington State, a resale certificate must be prepared disclosing a long list of information which you will find in RCW 64.34.425. The required facts include (but are not limited to) information regarding the amount of the monthly assessments, any upcoming special assessments, the association’s annual financial statement, and…
Tag Archive: washington state
Reserves for Mixed Use Building & Limited Common Elements
Often condo declarations state that some building components are to be paid for exclusively by one group of owners. This may include all residential owners, or all owners within a single building. This means that reserve contributions for those components must come only from the units to which the cost is allocated. We frequently see reserve…
Change in Resale Certificate Law
Whenever a condominium unit is sold in Washington State, a resale certificate must be prepared disclosing a long list of information which you will find in RCW 64.34.425. The required facts include (but are not limited to) information regarding the amount of the monthly assessments, any upcoming special assessments, the association’s annual financial statement, and…