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#458431 - 07/12/17 10:58 AM I can't believe I can't find any information.
Ajtex Offline
Junior Member

Registered: 07/12/17
Posts: 4
Loc: Austin
I've can't seem to find any information, training, or designation on anything specific to high rises or condos.
I've check all online training and the local schools her in town. Help! I know there has to be something.

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#458456 - 07/17/17 09:59 AM Re: I can't believe I can't find any information. [Re: Ajtex]
Ajtex Offline
Junior Member

Registered: 07/12/17
Posts: 4
Loc: Austin
See....absolutely nothing

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#458457 - 07/17/17 10:12 AM Re: I can't believe I can't find any information. [Re: Ajtex]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7626
Loc: Vermont's North-East Kingdom
Well, what's your objective . . . . to learn about the Structure, the Architecture, Restrictive Covenants, Bylaws or Condominium Association Statutes, or the Condo sales process ?

In the end, what is the training you seek expected to accomplish ?
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#458476 - 07/19/17 09:57 AM Re: I can't believe I can't find any information. [Re: Vermont]
Ajtex Offline
Junior Member

Registered: 07/12/17
Posts: 4
Loc: Austin
The condo-high rise sales process. It certainly differs from every real estate transaction....sales certificates, building approvals, appraisals and even inspections are completely different. There appears to absolutely now training in this process or how it differs. I'm surprises its not its own designation with its dedicated discipline, honestly. Yet, I can't find a thing regarding this process professionally..

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#458477 - 07/19/17 04:51 PM Re: I can't believe I can't find any information. [Re: Ajtex]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7626
Loc: Vermont's North-East Kingdom
Well I've listed and sold many Condominiums; but not "high-rises" . . . . we don't have those here in Vermont where anything over 5 stories would be considered a Skyscraper (kind'a like the Silo on a Barn).

Our Condos are usually in the Alpine Ski areas and Waterfront Vacation settings where maintenance is taken care of by the Association for their absentee Owners . . . . often the Association also arranges the rental of the Units when not in use by the Owners.

Nonetheless, unless you're selling the entire building, selling individual living units under a uniform Condominium Agreement (by Statute) is going to be about the same, regardless of how many stories the building comprises . . . . except maybe height related issues like Sprinkler Systems, Elevator Maintenance, and Air Rights.

I'd look into studying Condominiums and Cooperatives (if they're at all popular in Austin); and there may be a special Condominium designation through NAR . . . . but I've never seen any designation that actually put money in someone's pocket. Good Luck with this one.
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#458481 - 07/20/17 08:08 AM Re: I can't believe I can't find any information. [Re: Vermont]
MOMO Offline
Member

Registered: 03/02/13
Posts: 404
Loc: USA
I've sold well over 100 condos and the sales process is not much different but there are usually MANY more documents to review..if the condo is new and sold by the original developer then an Original Sales Certificate is usually required....if the condo is being sold by someone other than the original developer/owner then a Resale Certificate is usually required. Both of these certificates should have all documents relating to the condo (rules and regs, insurance binder, budget, condo declarations)and I usually ask for the minutes of the previous HOA meeting to see if there are any discussions about upcoming special assessments.
I can't speak for all areas but in mine (MO)after Buyer has received a copy of the original sales certificate they have 10 days to cancel the sales contract and if receiving a resale certificate the Buyer has 5 days to cancel. Google Resale Or Original sales certificate and there is lots of information.

Fannie/Freddie has certain requirements that must be met in order to obtain a loan so it is a good idea to read up on that.
https://www.fanniemae.com/singlefamily/project-eligibility#

btw...Condo associations don't usually pass out the resale/original sale unless there is an offer on the property and there is a $100.00-$150.00 charge for this document.

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