In a recent
newsletter one of our local management firms stated that “the
COA is encouraging associations to be their own ‘Contact’. The
COA is not encouraging associations to have their own contact
person. If member associations wish to allow management firms
to be their designated contact, that is their option. The COA is
simply following our purpose: We are organized to acquire and
disseminate information to COA Associations.
The new AZ
Statutes give the associations the opportunity, in our depressed
economy, to recover some fees as outlined in the new Statutes
for Planned Communities and Condominium Associations.
The Statutes
state that associations may charge a prospective buyer a fee of
up to $400.00 for resale disclosure statements. This would also
save the associations from having problems with a title company
or real estate agent receiving misinformation since the correct
documents would be forthcoming from the member association
contact. Only the Declarations/CC&Rs are recorded; association
Bylaws and Rules are continuously updated and kept current in
association files.
There are
386 associations in Sun City; 349 of these associations have
less than 50 units. Whether your association has more or less
than 50 units, the Statutes require that the disclosure
documents must be presented to the prospective new owner. The
COA recommends and most associations require that prospective
new owners have an Orientation Meeting set up by the seller, his
agent, or the real estate agent prior to the closing. At this
meeting the prospective new owners will receive all documents
required by law as outlined in the AZ Statutes §33-1806 and
§33-1260 from the association’s member contact or the Board of
Management. If a management company only supplies the required
documents, the association will have no knowledge that all the
information is accurate and current. The association has a
responsibility to present complete and accurate information to
the prospective new member.
The COA
Office will be happy to answer any questions you may have on the
subjects of association contact and the new laws that go into
effect January 1, 2012, on Resale Disclosure and any other
services related to resale of a property.
