There are over 49,000 Common Interest Developments (CID) in the state of California with probably over 9 million people living in them, according to the California Law Revision Commission, citing Levy & Erianger, 2010 California Community Association Statistics 1, (2020).
This course is designed to give you the knowledge to list and sell a CID property. Selling CID properties is not the same as selling a home! This class will help you understand the terminology, governing documents, transferring of ownership, and many other issues involved in the sale of a CID property. You'll receive vital information that is correct and current needed to serve this unique market.
How you will benefit from taking this course:
- Learn what a CID is and why this has become a popular type of homeownership for so many
- Receive the information needed to show, list and sell a CID property
- Understand the loans and programs available for financing a CID property
- Discover what the necessary documentation is needed by the seller
- Review the disclosure documents that are usually included
This course covers:
- Definition of a CID
- The four types of CIDs
- The Homeowner Association
- Violations and Fines
- Board of Directors (BOD)
- CID Documents
- Transfer fees
- Governing Documents
- Articles of incorporation
- Subdivision Map
- CC&Rs (including use restrictions)
- Rules and Regulations
- Architectural Standards
- Additional disclosures
- Can rules be changed?
- What happens when rules are broken?
- CIDS Management Companies and their roles
- Professional Management
- Full Management
- Financial Management
- Showing and selling CIDs
- Financing for CIDs
- Fannie Mae and Freddie Mac (FNMA/FHLMC)
- Portfolio Lending (Banks lending Depositors' funds)
- Important HOA factors affecting qualifying buyers
Please note: Purchase of this course is for use by a single person and may not be broadcast, recorded or shared by more than one individual. If you are interested in showing this course in your office, please contact C.A.R. Edcation at email@example.com for Broker Pricing Information.