FAQs

Felner Management – Resale Procedure Clarification and Fee Disclosure

All requests for resale certificates MUST be submitted by the selling unit owner or theirrepresentative as verified by a written authorization

Requests must be made by visiting felnercorp.com - within the ‘Lender Services’ tab, you will see an option to ‘Request a Resale Package’. This link will redirect you to homewisedocs.com, which is the third party that facilitates our resales. Please be sure to inform all parties involved, including the closing attorneys, realtors, and lenders so as to avoid duplicative requests

All resale certificates will be delivered directly to the selling unit owner at the email or mailing address provided in the HomeWise request form. Alternate delivery arrangements require written authorization from the selling unit owner. Incomplete forms or forms submitted without authorization will be returned and will not be processed until corrected

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Fee for Resale Certificate

There is a state of CT determined fee for the preparation of the resale certificate. And note that under statute, additional inquiries or information requests are subject to an additional fee if it is reasonable and reflects the actual cost of preparation. Any amount charged over the threshold must be fair, reasonable, and itemized upon request.

Additional requests outside of the statutory requirements outlined above will be subject to additional administrative fees to compile and to answer. These may include, but are not limited to expedited processing, supplemental financial information, meeting minute copies, loan payoff requests, historical data reports, or document compilation beyond the standard resale certificate contents. Any such fees will be disclosed to the requester prior to fulfillment and must be paid in full before the requested information is released, as per Conn Gen. Stat. 47- 270(b)(1)

Additional requests required of the Association’s counsel (i.e., litigation details, legal opinions, etc.) shall be made by the managing agent and paid for by the transacting party.

Payment of all applicable fees must be made prior to delivery of the certificate unless otherwise agreed upon in writing.

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Timing and Delivery

The resale certificate shall be provided within the time required by law, typically within 10 business days after receipt of order and payment of the fee. Delivery of the resale certificate will be made directly to the seller via the contact method specified above (homewisedocs.com). If the selling unit owner wishes for the certificate to be provided to a third party (e.g., a real estate agent or attorney), such request must be included at the time of the resale request on the initial HomeWise form.

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Certification

All statements provided by the Association in the resale certificate shall be accurate as of a date no more than 30 days prior to the date the certificate is issued. A final balance statement should be requested within 24 hours of the closing date by emailing us at ar@felnercorp.com

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Updates and Amendments

This policy may be updated from time to time to reflect changes in applicable law or Association procedures.

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Legal Interpretation Disclaimer

Felner Management and its representatives do not provide legal interpretation of the Association’s governing documents (including the declaration, bylaws, and rules and regulations). Buyers, sellers, and their agents are advised to consult their own attorney for any questions regarding interpretation, legal effect, or enforceability of provisions within the Association’s documents. These interpretations include but are not limited to questions related to the definition of “critical repairs”, assessments of structural elements, habitability, or possible future assessments. These questions cannot be answered by the managing agent and must be deferred to the appropriate third party – at the transacting parties’ expense should the Association not have the same on file already. Exception considerations should be made in writing and will be presented to the Board of Directors for approval.

 

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Communication Policy

All communication regarding resale certificate requests will be limited to the selling unit owner or an authorized representative. Inbound phone calls or verbal inquiries will not be sufficient to initiate or alter resale certificate requests. All such communication must be followed up in writing by the selling unit owner or an authorized representative. We will not answer multiple parties in a transaction – any correspondence related to the resale should be directed to the ordering party, as that party is the only party we are legally able to provide answer to.