All right, in this video today, you will learn how to fill out the HOA addendum. So, let's begin by going to my forms and selecting the addendum for the property subject to mandatory membership in the Homeowners Association (HOA). - Click on that addendum, and this is where you'll start entering the information. - Usually, the first thing we need to check is the time frame for the addendum. It can range, but I usually put fifteen days here. Sometimes, you can do ten days. The only reason to not choose a shorter time frame is that some HOAs require more time to provide information to the buyer mentioned in the contract. In such cases, the seller might have to pay a rush fee. We prefer to avoid that, so fifteen days is usually safe. - Among the addendum options, the first option "one" is the most commonly used. We hardly ever use "two." So, I usually select "one" as the default option. - Moving on to the fees section, we need to clarify that this part does pertain to the situation. Here, you indicate what the buyer is asking the seller to pay. For example, if the HOA charges a fee of $250, and you want the buyer to pay $100, then the seller would be responsible for paying the remaining $150. Generally, I put $100, sometimes $50 or $150. It's a way to make your offer more attractive to the seller. You could potentially put a higher amount if needed, but $100 usually works. - The next section usually doesn't apply to the situation. However, if it does, you can simply checkmark "seller to pay for tile company." This refers to the cost of obtaining information prior to ordering the tile company's services. It's rare, but if it does happen, just indicate...
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Virginia Real Estate Contract Addendum Form: What You Should Know
Buyer. ) and 2023 Northern Virginia Association of REALTORS, Inc. ADDENDUM — REALTOR INSPECTION REFERRAL. The undersigned sellers and buyers to inspection referral are: 1. _____, (Seller. 1)'s name as the Buyer and Owner in Name of the sale 1. _____, (Buyer. 1)'s title in Title of the Property in which the sale takes place as the real or personal property and/or realty which is being sold is conveyed 3. _____,3)'s name, business address, personal telephone number and email address as seller. 3. _____,4)'s name, business address, personal telephone number and email address as buyer are: _______ (3) _____,5)'s name, business address, personal telephone number and email address, and the name of the professional to be used in the communication is: (3) _____,6).” (Signature or Signature of Seller. _____) 6. In the event that, neither the Seller nor the Buyer is registered with the Virginia Professional Real Estate Brokers Registration Board, and the sale is to a professional, any additional requirements for registration, license, certificate as a registered Virginia real estate appraiser or broker, as well as a professional license may be waived by the undersigned parties. If the Seller is the only party to the sale of the property, the signature of a person who is at least 21 years of age shall constitute the consent of the undersigned. 6. In the event that, neither the Seller nor the Buyer is registered with the Virginia Professional Real Estate Brokers Registration Board, and the sale of the property is to a professional, any additional requirements for registration, license, certificate as a registered Virginia real estate appraiser or broker, as well as a professional license may be waived by the undersigned parties. If the Seller is the only party to the sale of the property, the signature of a person who is at least 21 years of age shall constitute the consent of the undersigned. 7.
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