For owners & sellers
Owning and selling a Rhode Island condo
Condo sales fall apart over association paperwork more often than over the unit itself. Gathering documents before you list keeps your timeline intact and gives buyers confidence in the community.
Gather your association package first
Ask your management company or board for the resale package the moment you decide to sell. Turnaround times of one to two weeks are common, and fees usually apply.
- Master deed, bylaws and current rules
- Current budget and latest financial statement
- Reserve balance and any reserve study
- Certificate of insurance for the master policy
- Recent meeting minutes
- 6(d) certificate confirming your account is current
Know your numbers
Buyers and their lenders will ask. Have precise answers ready rather than approximate ones.
- Exact current monthly fee and when it last changed
- Everything the fee includes
- Any assessment currently being collected and its end date
- Any assessment the board has discussed but not yet voted on
Disclose what you know
Known assessments, litigation, water intrusion history, and pending rule changes are material. Disclosing early protects the transaction; discovering them at the closing table rarely ends well.
Association approvals and fees at closing
Check whether your association requires buyer approval, has a right of first refusal, or charges transfer, move-out or capital contribution fees. These affect both your net proceeds and the closing schedule.
Help your community's profile
Accurate, current community information makes every unit in your association easier to sell. If your community page here is out of date, submit an update — reviewed contributions are published with a verification date.