Question

Delaware licensee Ron has several properties listed. For which of these will he advise his client to request a resale certificate from the association?

A. A unit in a 15-unit residential condominium complex with a hot tub but no pool
B. A unit in a bustling residential complex with three pools, two tennis courts, and 200 units
C. A unit in an office condominium complex
D. A unit in the Argent Rest Home complex, a continuing care facility

Answer 1

Ron should advise his client to request a resale certificate for the unit in a residential complex with multiple amenities, as it provides vital financial and operational information from the HOA.

Step-by-step explanation:

Delaware licensee Ron should advise his client to request a resale certificate from the association for the unit in the bustling residential complex with three pools, two tennis courts, and 200 units (Option B). A resale certificate, which is typically issued by homeowner associations (HOAs), contains important information about the financial and operational status of the association.

It is especially relevant in larger complexes with significant amenities, as these factors can impact the financial obligations and value of a property. Such a certificate would include details on any outstanding dues, upcoming assessments, and the overall health of the association's budget and reserves.

In contrast, the other options do not necessarily require a resale certificate, because they either represent a smaller residential complex, an office condominium complex, or a continuing care facility, which may have a different set of governing rules and financial implications.