Obtaining HOA documents for closing poses a substantial challenge in the realm of real estate transactions. This process entails a multitude of manual tasks, including determining the presence of an HOA, locating their contact details, urging the seller to cover document fees, and optimistically awaiting the receipt of the accurate documents.

On average, nearly 38 hours are expended for every 50 transactions that involve an HOA, equating to almost a week spent in the pursuit of HOA documents to finalize a transaction. Consequently, it is a common occurrence for transactions to encounter disruptions or delays due to the absence, tardiness, or inaccuracy of HOA information. This is where Skyline Title Support steps in, making the life of a title agent much easier by handling the estoppel certificate requests for them.

What is an Estoppel Certificate?

In the context of a real estate purchase transaction, an estoppel certificate is a crucial document provided by a homeowner’s association (HOA). It outlines the current status of dues and any outstanding fees that the seller owes to the HOA. The estoppel certificate is essential for the title company to ensure that all dues are accounted for in the title settlement statement, thereby preventing any unforeseen financial liabilities for the buyer.

What's Included in an Estoppel Certificate?

An estoppel certificate typically includes the following information:

• Association dues amount
• Frequency of dues
• Collection payoff letter
• Current violations

Optional information upon request:

• CC&Rs and Bylaws
• Rules and Regulations
• Condo/Lender questionnaire
• Meeting minutes
• Insurance certificate
• Architectural guidelines

How Skyline Title Support Simplifies the Process

Skyline Title Support offers a streamlined service for retrieving HOA estoppel certificates. By leveraging our service, title agents can focus on other critical aspects of the transaction while we handle the tedious task of acquiring accurate and timely HOA documents.

Benefits of Our Service:

• Time-Saving: We reduce the average time spent on HOA document retrieval, ensuring quicker transaction closures.
• Accuracy: Our team ensures that all information in the estoppel certificate is accurate and up-to-date.
• Reliability: We follow up diligently to ensure timely receipt of all necessary documents.