Would like other input: A condo is located in a Local Improvement District - an amount assessed for the construction of a round-a-bout. This assessment has been applied to many properties - condos & homes in the area (i.e. - its not a condo special assessment - wont be in the condo cert). No other listings in the area ever mention this LID annual obligation in the agent notes (for 10 more years) and the seller knows recent buyers who were were upset they were never informed before/during the sale. Of course, the buyer has a duty to investigate, regardless. All previous Sellers Disclosures have checked yes on the assessments box. Obviously, these things can become a point of negotiation, since the owner/seller has the option of paying the balance in full at any time. Do you always list community improvement district obligations in the agent notes of your listings? If not, when do you broach the subject - assuming you know about it. Or, do you let the Sellers Disclosure suffice, and leave it up to the buyer/agent to inquire or investigate further.
Posted on: Mon, 12 Jan 2015 00:31:34 +0000