Public Document Library

 

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Association Documents

There is a $200.00 Condo Questionnaire fee which can be paid by check (mailed or overnighted) or by credit card (fee of $7.00). Once the payment is received, we will complete it within 72 business hours.

*Please be advised that at this time there will be no addendums completed or questions answered in reference to the structural integrity or deferred maintenance etc. We reserve the right to refuse this portion of the questionnaire.  As you can imagine the liability these questions place on the Association and Management Company is quite large since we are not experts in this field. If this is a part of your questionnaire, please note it will not be completed by Waves.

Please acknowledge the portion in RED before proceeding with payment- there will be no refunds. By submitting your payment you acknowledge that you have read and understand the language above.

Please email Hilary Gentry indicating how you wish to pay and the questionnaire.

Realtors:

32. Condominium Disclosures:

If the Property is a CONDOMINIUM, Seller shall obtain from the Condominium Owner's Association (as applicable) and deliver to the Buyer within ____ Business Days (5 Days if left blank) following Acceptance Date of the Agreement to submit to Buyer the following information, including information available under Section 35-8A-409 (a) of the Alabama Uniform Condominium Act:

a. Recorded Declaration of Condominium and any amendments thereto, Bylaws, Covenants/Restrictions, Rules/Regulations.  SEE ABOVE IN BLUE- Click and reveal documents for download or sharing.

b. Minutes from the last 2 Annual Owners Meetings and the last 2 Board of Director's Meetings. Available to the owner, they will need to log in and email them to the agent.

c. A statement setting forth the amount of the monthly common expense assessment and any unpaid common expense or special assessment currently due and payable from the selling unit owners. $2,000.00 per owner due no later than May 15th, 2022. This equals to a total of $80,000.00 for Insurance Annual Premium. 

d. A statement of any other fees payable by unit owners. There is a $200.00 transfer fee to the Master, a $250.00 transfer fee for the Villas upon closing, there is a $100.00 transfer fee made payable to Waves Association Management which is required to be a separate check & made payable to Waves rather than the association. 

e. The most recent regularly prepared balance sheet and income and expense statement, if any, of the association. Available to the owner, they will need to log in and email them to the agent.

f. The current operating budget of the association. Available to the owner, they will need to log in and email them to the agent.

g. A statement of any unsatisfied judgments against the association and any pending suit in which the association is a party. To my knowledge, there are no unsatisfied judgments against the association or pending lawsuits to which the association is a party. 

h. A statement describing any insurance coverage provided for the benefit of unit owners. Please contact Whitehaven Insurance at 251-967-3323.

i. A statement of the remaining term of any leasehold estate affecting the condominium and the provisions governing any extension or renewal thereof. To my knowledge, there are no leasehold estates affecting the condominium. 

j. A statement of any restrictions in the declaration affecting the amount that may be received by a unit owner upon sale, condemnation, casualty loss to the unit or condominium, or on termination of the condominium.  If there are any restrictions they are outlined in the Declarations and owners are encouraged to review association documents for stated restrictions. 

k. Contact information for the association. Waves Association Management, 191 North Shore Cir, Gulf Shores, AL 36542. Phone: 251-943-7410, hilary@wavesassocmgmt.com

Buyer shall have 5 Business days, from receipt of disclosures to review and approve, or notify Seller in writing if not satisfactory, otherwise, this contingency shall be deemed removed.