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Video instructions and help with filling out and completing Virginia real estate contract addendum
All right on this video today you will learn how to fill out the HOA addendum so again we will come over here to my forms come over here to the addendum for property subject to mandatory membership in home and owners association also known as homeowners HOA click on that one there and this is where you'll start filling the information out so this is usually the first box we check this can range I generally will put fifteen days here sometimes you can do ten the only reason to not do a shorter amount of time is that some HOAs require more time to get the information to the buyer that is on here on the contract and then sometimes they have to do a rush which means the buyer may have to excuse me the seller may have to pay a rush fee and we're trying to stay away from that so if you put fifteen days you're usually safe in that timeframe one is usually the only one that you'll ever use we never used to I I generally never used two one is the the one I normally pick to use and again same thing two three or four you basically never use those ones the only one you use coming down here as far as the fees go this really doesn't pertain excuse me this part does pertain I'm sorry this one this means what your seller or you're asking the seller to pay sorry this is what the buyer is asking to pay so the buyer you're saying that our buyer will pay $100 and the seller will pay any excess here web of whatever fees that are charged so if there's a $250 fee charged by the HOA your buyer will pay $100 and the seller will pay a hundred and fifty dollars so if I generally put a hundred sometimes I see 50 150 this is really the way that you want to make your offer more attractive to a seller possibly you could put our higher amount here but a hundred generally works this section is the section that typically does not pertain to the situation but generally I would just put it checkmark seller to pay for tile company the cost of obtaining information prior to the tile company order the information this usually doesn't happen if it did happen just check that the seller would pay for it and that is it for the HOA addendum.