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The primary purpose of a status or estoppel letter is to provide reliable information to parties involved in a real estate transaction so they can determine:
Whether the seller has any outstanding financial obligations to the association.
Whether any amounts should be collected and paid at closing.
Whether the buyer will take title free of unpaid association assessments, subject to applicable law and the association's governing documents.
The primary purpose of a status or estoppel letter is to provide reliable information to parties involved in a real estate transaction so they can determine:
Whether the seller has any outstanding financial obligations to the association.
Whether any amounts should be collected and paid at closing.
Whether the buyer will take title free of unpaid association assessments, subject to applicable law and the association's governing documents.