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Condominium Doc Requirements DC

To prevent a surprise to condo boards of self-managed buildings, we prepared this reminder of what needs to be presented within 10 days of contract. 

GCAAR Form #921 - Paragraph 4

This disclosure involves the resale of a condo unit by a unit owner (i.e., the Seller) other than the declarant. Seller agrees to obtain from the unit owner's association and deliver to a Buyer, on or prior to the tenth (10th) business day following the ratification date of a Contract by a Buyer, a copy of the condominium instruments (i.e., recorded declaration, bylaws, plats and plans and all exhibits, schedules, DC Condominium Bill of Rights and Responsibilities, certifications and amendments to any of same) and a certificate setting forth the following:

A. A statement, which need not be in recordable form, setting forth the amount of any unpaid assessments levied against the Unit;

B. If applicable, a statement, which need not be in recordable form, certifying to the Board's waiver of, or failure or refusal to exercise, any rights of first refusal or other restraints on free alienability of the Unit which may be contained in the Condominium instruments;

C. A statement of any capital expenditures approved by the unit owners' association within the current or succeeding 2 fiscal years;

D. A statement of the status and amount of any reserves for capital expenditures, contingencies, and improvements, and any portion of such reserves earmarked for any specified project by the Condominium Board;

E. A copy of the statement of financial condition for the unit owners' association for the most recent fiscal year for which such statement is available, and the current operating budget;

F. A statement setting forth what insurance coverage is provided for all unit owners by the unit owners' association and a statement whether such coverage includes public liability, loss or damage, or fire and extended coverage insurance with respect to the Unit and its contents;

G. A statement that any improvements or alterations made to the Unit or the limited common elements assigned thereto, by the Seller are not in violation of the condominium instruments;

H. A statement of the remaining term of any leasehold estate affecting the Condominium or the Unit and the provisions governing any extension or renewal thereof; and

I. The date of issuance of the certificate. 

{These requirements copied from the GCAAR Condominium Seller Disclosure / Resale Addendum for the District of Columbia and was current as of September 2018. Please review the contract for updated requirements as necessary}