Agent Sarah is representing a buyer interested in a condominium unit at Peachtree Heights. The seller's agent mentions that the association recently passed a special assessment for roof repairs. Under Georgia law, what disclosure requirement applies to this situation?
Correct Answer
B) The association must provide a resale certificate containing current assessment information
The association must provide a resale certificate containing current assessment information including any special assessments. A is incorrect as the timing and responsibility are wrong. C is incorrect as passed assessments affecting the unit must be disclosed. D is incorrect as special assessments require specific disclosure beyond the annual budget.
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Previous Question
A buyer in Georgia is purchasing a unit in a commercial condominium complex. The buyer asks the listing agent what types of association documents they should expect to review before closing. Which statement best describes current Georgia practice regarding resale information for community association properties?
Next Question
Buyer Johnson is purchasing a townhome in Brookhaven Commons HOA. The association's governing documents include restrictive covenants from 1985 that contain language now considered discriminatory. How should the listing agent handle this disclosure under Georgia law?