September 2008
  • 09/16/08 - Board Meeting, Chaska City Hall Chambers, 6:30pm.
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    REAL ESTATE PROFESSIONALS
    What do you need to do to assist your customer in listing or purchasing a home in Jonathan...
     
    Listing a Home in Jonathan

    It is not necessary to contact our office to notify us that you are listing the home, however due to the fact that all residents have an account and an obligation to pay their annual dues, you may want to find out the status on the home. This is as simple as a quick phone call to the office 952-448-4700. Or you can email the request to the general questions email address.

    If you plan to have open houses, it may be helpful to get a current book of the Jonathan Association By-Laws and Covenants for that neighborhood. You may want to be versed in the requirements and ARC Guidelines so you can inform your open house visitors/potential buyers. This is a Convenants neighborhood and it is important to help the potential buyers to understand the BENEFITS of convenants and By-laws and how they improve the value of our neighborhood and homes.

     
    A Purchase Agreement Signed

    Now that you have a purchase agreement, you are obligated to get the Covenants/By-laws book to the Buyer. They have 10 DAYS to review the book. It is important to make sure the following documents are in there:

    All of these documents are available at the Home office, a phone call to 952-448-4700 will have them ready for pickup in a matter of minutes.

     
    Title Work

    It is very important that the Title company send us a document requesting the current balance due on the home BEFORE the closing. This may flag any delinquent amounts or, often times due to the closing date the seller is entitled to a refund from the buyer prorated to the date of closing for that calendar year's dues.

    This is a sample Association Dues Balance document that can be used for this purpose. E-mail or fax 952-448-3487 the request to The Jonathan Association

     
    Closing and Payments

    At closing, even when refinancing, the account on the property must be brought current. This means all amounts due for that calendar year as well as past due amounts must be paid in full and collected at closing.

    If the account is already paid in full for that calendar year and it is not a refinance, the Buyer should pay the Seller the prorated amount shown on the paperwork received from The Jonathan Association. If you do not have this amount, please call 952-448-4700.

    Example 1: If the property closes June 21, 2004, the 2004 Dues is $207, the Seller already paid the full amount due so the Buyer would owe the Seller a refund of $109.45 at closing.

    Example 2: If the property closes January 19, 2004, the 2004 Dues is $207, the Seller owes $10.78 and the Buyer owes $196.22 to be collected at closing.

    Example 3: The Owner is refinancing, closing on January 19, 2004. It is unlikely the owner has paid any dues for 2004 so the full amount for 2004, $207, must be collected at closing. Be sure to send a Balance Due request form, even on a refinance.

    If this is a new property the amount due is based on the calendar year it is closing in, and is prorated from the date of closing through the end of that calendar year.

    Example 4: If the property closes on June 21, 2004, the 2004 Dues is $207, the prorated amount the Buyer owes is $109.45 to be collected at closing.

    All payments to Jonathan are -

    made payable to:
    The Jonathan Association

    mailed to:
    The Jonathan Association
    111000 Bavaria Road
    Chaska, MN 55318

     
     

     

       
    The Jonathan Association ~ phone: (952) 448-4700 ~ fax:(952) 448-3487 ~ 111000 Bavaria Road, Chaska MN, 55318