850 Decatur Ave. North, Ste. 2A - Golden Valley, MN 55427
Phone: 763-593-9770  Fax: 763-593-9578  E-mail:
info@actmanagementinc.com
Disclosure FAQs

Common Interest Community Resale Disclosure:


State law requires the Association’s managing agent to complete the Common Interest Community Resale Disclosure form.  This form discloses information about the association (i.e. budget and financial information) to the prospective buyer.  This form expires 90 days from the signature date.

Mortgage Forms:

Each mortgage company has a varied number of forms which may need to be completed for a home mortgage loan, whether you are selling or refinancing. These forms are those required by the mortgage company, not by ACT Management.

Closing Form/Status of Account:

Whether you are selling or refinancing, your transaction will usually be administered by a closing company. A “status of account” letter will usually be requested by the closing company.  This form details the monthly Association dues, the status of your Homeowner account and insurance information.

Association Documents:

If you are selling, you will need to have the Declaration of Covenants and Restrictions, the By-laws, the Articles of Incorporation, and the Rules and Regulations, in addition to the seller’s package.  These are to be given to your buyer; they transfer from owner to owner.  If you already have a copy of your association documents, you do not need to purchase another copy.
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