SALES PACKET
The sale of a Unit in the Condominium Association is subject to the requirements of Article 21 of the Declaration and Bylaws and all applicable Rules and Regulations of the Association. For the Management Office to process a sale and to begin recognizing a new Unit Owner, the following policies and procedures are relevant:
- Notice of any sale, gift, devise, or other transfer of the Ownership of a Unit shall be given to the Board and Management Office, in the manner provided in Section 21 of the Declaration and By-Laws for giving notices, within five (5) days following consummation of such transfer.
- The buyer must complete all forms normally and reasonably required by the Association and return them to the Management Office along with a fully executed copy of the contract of sale prior to the time that the buyer takes possession of the Unit. The purpose of the information requested by the Association is to gather information essential to the efficient functioning of the Association. (A sales packet is available from the management office, which includes a notice of intent to sell, an incoming resident information form, a sales contract rider, and receipt; in addition, a cover letter details the procedures to be followed)
- Elevators will not be provided, and access to individuals who have purchased will not be granted until all required information has been provided by the Buyer INCLUDING CLOSING DOCUMENTS AND/OR PROOF OF SALE and all required fees and deposits paid.
A copy of the Sales Packet can be made available by the Management Office within 24 hours to any Unit Owner or authorized agent of a Unit Owner, or resident. To request a copy you can contact the office at 312-482-9793, or stop by at 111 West Maple. If you need help in interpreting or understanding these procedures, or if you have any questions at all, please feel free to contact the building manager at 312-482-9793.
Generally it is the Association’s policy to hold the seller responsible to see that all materials required by the Association be gathered and submitted to Management. Otherwise, the Association will not produce a paid assessment letter which is required by title companies to complete a closing for any condominium unit. Likewise, once a sale is closed, the buyer must provide proof of closing or the seller will continue to be held responsible for assessments, late fees, and legal fees as applicable, and the buyer will not be granted access to the building or unit. Once all the materials specified in the cover letter of the packet are gathered, they can be faxed to 312-482-9795, or dropped off in the Management Office, and the sale will be processed.
You can also download a copy (Hit Right Click/Save As) DOWNLOAD FILE
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Board Members