Real Estate closing Information: Closing attorneys should contact the Association Manager at the time of sale to obtain information on the status of the property.
Please allow three (3) Business days for us to research our records and respond to you.
It is the responsibility of the closing attorney to provide the buyer with information on the governing documents of the Association.
Resale Disclosure Packet - What it is and Why is it necessary when you sell your home?
The purpose of the Disclosure Packet is to put the potential buyer on notice that the home is subject to the rules of the Association Governing Documents, provide the potential buyer with information on the association, including;
- current financial statements and budget
- most recent audit
- the current reserve study
- certificate of insurance
- the past 6 month of meeting minutes
- all resolutions, guidelines and adopted policies of the Association
The Disclosure Packet also provides the potential buyer with a summary of the home’s compliance with the Townes of Autumn Oaks Homeowners Association rules by giving a summary of any outstanding violations on the property and providing an accounting of the status of the assessments for the home. Additionally the statute requires specific statement on the association’s rules in regards to flag poles, solar panels and advertising signs. All of these requirements are detailed in an 18 point list in Section 55-509.5.A.
If a seller of a lot does not provide a complete Disclosure Packet, at least 3 days prior to the settlement date, the buyer may cancel the sale. To ensure that Disclosure Packets are provided timely and accurately, National Realty Partners has partnered with HomeWise
to provide resale disclosure packets to our clients. Owners may request a Disclosure Packet through HomeWiseDocs.com
In addition to the mandating the items that must be in a Disclosure Packet, the State of Virginia has established the costs associated with the preparation of the packet, these guidelines are outlined in Section 55-509.6 of the Virginia Code.
The hierarchy of documents required for closing is:
- Federal Laws
- State Law (Virginia Nonstock Corporation Act and the Virginia Property Owners’ Association Act are the primary statutes)
- Articles of Incorporation – recorded with the State Corporation Commission
- Recorded Declaration of the Association
- Resolutions, Architectural Guidelines
- Policies and other rules
- Motions made at Board meetings and recorded in the minutes
Collectively these are all the Governing Documents of the Association and all are included in the resale disclosure packet that potential owners receive when they purchase a home. Owners need to get resale packets from the HomeWise
website to ensure they are getting the required information as established by the Statute.
Any other information you may require, please contact Sarah Tozer at [email protected]
The Town of Autumn Oaks community opened up in 2012 and built by Ryan Homes. The community is situated on 25 acres in Eastern Loudoun County and made up of 179 homes.