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By CondoAssociation.com • August 2, 2021

Can association require capital contributions for buyers at closing?

Can a condo association require when selling a unit that the buyer must pay a capital contribution at closing of $1,500 as a non-refundable contribution paid by the buyer going into a special account to fund capital improvements and/or repairs. This is not in our docs but could be added to the sales application. Is anyone doing this?

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Please note that blog comments and postings are not legal advice, rather only the opinions of our readers.
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