Resale Certificates
What is a Resale Certificate?
A Resale Certificate is a document required by law when selling a home in a planned community like Graysdale. The Resale Certificate is submitted to the homeowners association (in our case, Graysdale Homeowners Association or "GHA"). These certificates provide the home buyer with valuable information, such as expected special assessments, ongoing litigation, and the amount of reserves available for repairs. Legal details can be found under Pennsylvania Consolidated Statutes, Title 68. Real and Personal Property, Part II. Real Property, Subpart D: Planned Communities, Chapter 54. Protection of Purchases, Paragraph 5407. Resales of Units.
The Resale Certificate for our neighborhood includes:
- Declaration of Covenants & Easements
- GHA Bylaws
- Current GHA Budget
- Current GHA Balance Sheet
- Any unpaid dues assessments and late fees
- List of any exceptions (any way in which the property is not in compliance with the Declaration of Covenants & Easements or HOA Guidelines (posted to this website), such as having the a fence or shed that doesn't meet our guidelines)
When do I need a resale certificate and how do I get one?
You should contact the Vice President of the Graysdale Homeowners Association (GHA) as soon as you put your home on the market (see our homepage for contact information). An exterior inspection by a member of the GHA Board will need to be conducted. By contacting the GHA right away, we can do the exterior inspection promptly and get you the Resale Certificate that you will need.
The information required on the Resale Certificate includes:
- Address of property
- Name of buyer(s)
- Email address of buyer(s) (optional, but highly appreciated!)
What is the resale certificate process and how are violations handled?
See The Resale Certificate Process.
How long does it take to get a resale certificate?
By law, the seller must provide a resale certificate to the buyer, and the GHA has 10 days to prepare the resale certificate upon request of the seller. This gives the Association time to inspect the exterior of the property for exceptions and to prepare the document and attachments. Since a buyer has five days to look over these documents before committing to the sale, it is a good idea to request the Resale Certificate ASAP when you have a potential buyer.
How much does the resale certificate cost?
The fee for a Resale Certificate is currently $10. This cost is paid by the seller and is generally paid as part of the closing costs when you sell the house. Make checks payable to “GHA,” and send to the GHA Treasurer (see our homepage for contact information).
What happens if a sale falls through or the Resale Certificate becomes outdated?
Just contact the GHA Vice President to get an up-to-date Resale Certificate (see our homepage for contact information).
