Closing Documents
We’ve partnered with HomeWise Docs to offer a convenient process for ordering and delivering resale disclosures, refinance disclosures, and other closing documents. Creating an account is easy and you can start utilizing the system immediately. HomeWise representatives are also available to help with any questions you may have by calling toll free.
Resale Package
A resale package is a packet of vital information provided to those purchasing a condominium or a home in an association. The package includes a complete set of recorded documents that govern your association. The Resale Package may vary from state to state.
Each of the following documents are included in every resale package:
A resale package provides you financial information for the association, the governing documents or rules of the association and the certificate of insurance.
Base Price
- 6-8 business days
Rush Order A
- 3 business days
Rush Order B
- 1 business day
Refinance Statement of Account Only
A mortgage refinance is when you are replacing your current mortgage with a new loan. This may be done to achieve a lower interest rate, payment, or repayment term.
This can also be done to draw cash from your home’s equity.
Base Price
- 10 business days
Rush Order A
- 72 hours
Rush Order B
- 24 hours
Disclosure Packet
(Arizona Only)
A disclosure packet provides you financial information for the association, the governing documents or rules of the association, statement of account and the certificate of insurance. In Arizona, these fees are charged at the time of closing per statutory requirements.
Base Price
- 10 business days
Rush Order A
- 72 hours
What is a Questionnaire?
Lenders may require a questionnaire to be completed with information regarding your association. Often, a custom questionnaire provided by your lender will need to be completed; however, a stock questionnaire is also available for purchase. Questionnaire orders will include the questionnaire of choice, as well as an association budget and balance sheet and the association’s certificate of insurance.
Base Price
- 6 Business Days
Rush Order A
- 3 Business Days
Rush Order B
- 1 Business Days
Custom Form A
- 6 Business Days
Custom Form B
- 3 Business Days
Custom Form C
- 1 Business Days
Transfer Fees
This is a fee paid by the buyer of a property at the time of closing. It is a fee paid to Spectrum as a result of transferring the ownership from the seller to the buyer within our HOA servicing system. It is the same regardless of association or type of property.
Texas
Arizona
Foreclosure
If the property being sold is bank owned as a result of a foreclosure action, the bank owned property packet should be ordered which typically includes the following documents:
- Statement of Account
- Budget
- Current Unaudited Financial Documents
- CCRs
- Articles of Incorporation
- Bylaws
- Unit Ledger
- Insurance Dec Page
- W9
Bank Owned Property Packet
The Statement of Account should not be ordered if the property is in Foreclosure, as it alone does not have all required documents needed for this transaction.
Ownership Change
Your title company will send in all documents needed to have the property ownership changed over to your name. They will also include any payments that were collected at closing. We recommend waiting 30 business days from the date of your sale to allow for mailing and processing time. You may provide documentation in advance if you need gate or amenities access by emailing the documents listed below to [email protected].
Why does Spectrum need these documents?
These documents allow us to verify that the sale has already taken place. We are unable to process a change of ownership in advance of a sale. These documents provide the information that we need about the details of the sale and the contact information for the new owner.
To process a change of ownership, we must receive a copy of one or more of the following documents:
Transfer Fees
This is a fee paid by the buyer of a property at the time of closing. It is a fee paid to Spectrum as a result of transferring the ownership from the seller to the buyer within our HOA servicing system. It is the same regardless of association or type of property.
Texas
Arizona
Foreclosure
If the property being sold is bank owned as a result of a foreclosure action, the bank owned property packet should be ordered which typically includes the following documents:
- Statement of Account
- Budget
- Current Unaudited Financial Documents
- CCRs
- Articles of Incorporation
- Bylaws
- Unit Ledger
- Insurance Dec Page
- W9
Bank Owned Property Packet
The Statement of Account should not be ordered if the property is in Foreclosure, as it alone does not have all required documents needed for this transaction.
Ownership Change
Your title company will send in all documents needed to have the property ownership changed over to your name. They will also include any payments that were collected at closing. We recommend waiting 30 business days from the date of your sale to allow for mailing and processing time. You may provide documentation in advance if you need gate or amenities access by emailing the documents listed below to [email protected].
Why does Spectrum need these documents?
These documents allow us to verify that the sale has already taken place. We are unable to process a change of ownership in advance of a sale. These documents provide the information that we need about the details of the sale and the contact information for the new owner.
To process a change of ownership, we must receive a copy of one or more of the following documents: