Keller Williams Greater Seattle

Resale Certificate Fee Cap Increased

Condo sellers may soon see the cost for Resale Certificates increase this summer. The fee had been capped at $150 for many years, however, the Washington State legislature passed a bill raising the cap to $275. The change, signed by the governor, will take effect on July 22, 2011.

The Resale Certificate contains the condo association documents (budget/finances, CC&R’s, rules and regulations, bylaws, declarations, insurance, board minutes and may include a reserve study), which is provided to the buyer during the purchase process.

The documents provide important information about the financial health and management of the condo association. The cost of Resale Certificate is normally paid by the seller.

View the passed and signed bill

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About the Author

About the Author: Ben Kakimoto is a condo marketing specialist and publisher of The Seattle Condo Blog. Ben's focus is urban residential properties in Seattle's metropolitan core. Contact Ben to learn more about the Seattle condo and loft real estate market. Find Ben on Google+, Twitter and Facebook. .


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There Are 2 Brilliant Comments

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  1. I was surprised to read that this fee was regulated. Why wouldn’t an HOA, or a POA, be able to charge a fee commensurate with their costs? Seems like a little overreach on the part of regulators. They should let the market dictate what fees are acceptable.
    If fees got too high, the condo management would certainly hear about it from the owners association as they’d be taking a lot of heat when trying to resell their condos.

  2. Al says:

    Kappes Miller in Bellevue Washington is charging close to $500.00 dollars for a resale certificate. Grit has always prompted regulators to set caps and standards.

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