Selling an Inherited Condo or Townhome in Nashville: HOA Documents, Assessments and Practical Steps

A condominium usually means you own the unit plus a shared interest in the common elements, under a recorded master deed or declaration. A townhome may legally be a condo, or it may be a separately deeded lot in a subdivision with an HOA. The two come with different documents, so check the recorded deed or ask the title company which you have.

Find the management company first. The latest dues statement or an email in the owner's inbox usually names it. Tell them about the death and ask how they want to be contacted. Then request:

• The declaration or master deed, bylaws, and any amendments.
• Current rules and regulations.
• The current budget and most recent financial statements.
• Recent meeting minutes, which often show what's coming.
• A statement of current dues and any special assessment on the unit.
• The fee list for resale documents and any transfer or move-out fee.
• The association's certificate of insurance.
• Any approval or first-refusal process for sales, if the documents have one.

For condominiums, Tennessee law requires the association to provide resale information on request and lets it charge a reasonable fee (T.C.A. § 66-27-502). Townhome HOAs follow their own documents. Either way, the title company will tell you what it needs.

Keep dues current. They don't stop after a death. Pay them from estate funds or by agreement among the heirs, and keep receipts. The title company gets a statement of what's owed through closing and settles it then.

Special assessments are one-time or temporary charges for things like a new roof, elevator work or paving. Ask whether any are approved or under discussion. Who pays is usually negotiated in the contract. If you know about one, disclose it to the buyer and the title company.

Fees. Ask for the fee list up front so there are no surprises on the closing statement.

• Parking. Is the space assigned, deeded or a limited common element? A garage spot, carport or permit? Find the paperwork or ask the HOA.
• Storage. Some buildings have storage closets or cages that convey with the unit. Note the number.
• Keys and fobs. Gather every unit key, building fob, garage remote, mailbox key and amenity card for the buyer.
• Moving out. Many buildings require you to reserve the elevator or loading area and limit move-out hours. Call the building office before booking movers.

In most condominiums the association insures the building, and the owner insures the inside of the unit and belongings. Ask the HOA for its certificate, and call the owner's insurer to report the death and keep the unit policy in force until closing.

Listing makes sense when the unit is updated, the HOA documents are in order, and someone can manage showings, which in some buildings means coordinating with the front desk.

A cash sale can be simpler when the unit is dated, the family lives out of town, or nobody wants to manage building logistics. A cash buyer doesn't need a lender's condo approval, which can be an extra step for some financed buyers. The tradeoff is price; a cash offer is typically below full retail. See how cash home offers are calculated.

Who pays a special assessment when we sell?

It's usually negotiated in the contract. Disclose any assessment you know about.

Do you buy condos and townhomes?

Yes. We look at condos and townhomes across Davidson County and make written as-is offers.

Tell us about the condo or townhome, the building, and where the paperwork stands. Get your free cash offer, visit our Davidson County inherited house page, or see how it works.