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Before you order, we want to be sure you order what you need and only what you need so you will not pay for unneccesary documents or items that we provide free of charge. First, if you order a resale disclosure package, it comes with the insurance declaration, bylaws, the association declaration, etc. You DO NOT need to order any other product to comply with resale disclosure laws.
If you are in a community with multiple levels of associations: i.e., a condominium that is part of a homeowners association or a homeowners association with an additional recreation association, it gets a bit tricky. You MUST provide your buyer with resale disclosures from ALL mandatory condominium or homeowners associations.
If MMI does not manage both the master and sub-association, you will need to order the disclosure for the MMI community AND you will need to follow the other management company’s procedures for ordering their disclosure. Yes, you will have to pay for both.
If MMI manages BOTH the master and sub-association, please order ONLY for the sub-association. If we manage both and you order for the sub, we automatically give you the sub for NO ADDITIONAL CHARGE. In some cases, we may manage the master, but not all of the subs, so please be sure we manage both. Otherwise, you will need to order the master from us, and the sub from the other management company. If you are unsure which is the master and which is the sub, contact MMI Client Services at 301-220-1850 or Community@AccessMMI.com.
HOW DOES THE RESALE DOCUMENTS SYSTEM WORK?
HomeWiseDocs will prepare the package from information pre-populated by MMI and notify your MMI manager. The manager will update some of the content to be more current and relevant to your home. Once completed, the package is delivered by HomeWiseDocs.
Who needs a resale package?
Maryland Law requires that all resales of condominium units or homes within a mandatory homeowners association must provide the package to their buyer. The package must be prepared by the board or designated management firm (this is a change for HOAs since 2016).
When should you order the package?
The buyer has the right to withdraw from the contract until the package is received or during a review period (15 days for condominiums, 5 days for HOAs). For this reason, it is recommended that you purchase the package at the time you list the property for sale rather than cause an unnecessary extension of the buyer’s rescission rights.
Is an inspection conducted?
Some associations require an inspection. If so, there is an inspection fee. That fee is included in the purchase price of the package.
How much does it cost for the package?
Maryland Law limits the fees to*:
$250 for the resale package (standard 20 day delivery)
$100 additional if a rush 7 or fewer than days is requested
$ 50 additional if a rush 5 or fewer than days is requested
$100 additional if an inspection is required
* all fee limitations are subject to a CPI increase every two years starting in 2018
MMI fees are at or below these limits.
TITLE COMPANIES AND LENDERS:
Fees also apply for Demand/Closing Statements and Lender Questionnaires
Notice: Payment is required at time of purchase. E-delivery fees are included. Hard copies require additional fees.
If the sale does not close, the fees paid HomeWiseDocs are non-refundable, however updates are available should you require another package. Updates within 90 days are usually free of charge; beyond 90 days, additional fees apply.
WHEN ORDERING A PACKAGE, SEARCH BY COMMUNITY NAME OR ADDRESS. Be sure you have the right community! This is a nationwide system and there may be communities of the same name elsewhere.
Select Items to Purchase:
Resale Disclosure (Standard 20 day delivery or rush)
Lender Questionnaire (Standard or Rush)
Payoff Statement/Statement / Demand
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