If you are selling your home in Kingstowne, it's Virginia state law that you must obtain and present to the buyer a Resale Disclosure Packet. The Virginia Property Owner's Association Act requires a seller of property located in a homeowners' or condominium association to provide the buyer with certain information about the association. This information must be given to the buyer in advance of closing and the buyer has the right to cancel the contract within three days after receiving the resale disclosure packet. This provides the buyer with the opportunity to determine if they agree with the guidelines of Kingstowne and will be happy living within the structure of KROC.
A resale request form must be submitted to the Business Office. KROC must provide the packet within 14 days of receipt of the request. Five day expedited service is available for an additional $50.
Note: Some residents think the resale process consists of merely the copying of documents and are disappointed when learning the resale packet is not available immediately upon visiting the business office.
There are a series of steps that have to be followed, including a physical inspection of each home being sold, a review of files for that account to ensure there are no outstanding architectural issues, and a thorough review of the financial status of the account. The financial status check requires coordination with the Armstrong Management office, which requires tapping into a second set of work schedules outside the KROC office. Sometimes the work requires getting in touch with the homeowner or a contractor as well. The best way to ensure the receipt of resale documents in a timely manner is to order the packet when the decision is made to sell the home.
For PUD information, please logon to www.condocerts.com.
To complete the form online, please click here, or to download a form click here. |