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What is a 6(d) Certificate?
A 6(d) certificate is an official certificate of your account balance issued by the condominium association in accordance with Massachusetts General Law Chapter 183a.
Why do I need a 6(d) Certificate?
A 6(d) certificate may be needed for many reasons, but the three most common reasons include:
- Sale Closings
All sales in the state of Massachusetts require a 6(d) certificate in order to certify that there are no funds (or the amount of funds) owed to your condominium at the time of your closing.
- Refinance Loan Closing
A mortgage refinance or home equity line of credit/loan closing will require a certificate in order to prove to your lender that there is no lien on the unit by the condominium association.
- Collections
In order to clear a lien on your unit from a past due balance collection case, some lenders may require you to record a certificate.
When do I need to order my 6(d) Certificate?
If you are refinancing, you will typically need to have your 6(d) certificate ready at the closing. If you are selling your unit, you (or your agent) must communicate with your buyer (or your buyer’s agent) to determine when you are closing, what month your condominium fees must be paid through, and the due date for when you will need the certificate.
How long does it take to process a 6(d) Certificate?
Time for processing your 6(d) certificate will fully depend upon your account balance and payment methods. Typically turnaround time for a 6(d) certificate is 10 business days; however, if all of your fees have been prepaid, and you have paid for your document order in cleared funds (i.e. a money order, bank cashier’s check, or credit card), the certificate can be processed much sooner. If you need a 6(d) certificate at the last minute, we offer a rush service for a two business day turnaround at an additional fee.
If you are paying for your fees and documents with a personal check or online bill payment, this may require up to 10 business days as the payment must process through the condominium’s bank before the 6(d) certificate can be released. To avoid delays in processing, we strongly suggest that all final fee and order form payments be in cleared funds.
Who do I give the 6(d) certificate to?
The certificate should be given to the lender or closing attorney requiring the certificate for your unit. If no closing attorney is being used and you are selling (not recommended), you should provide the 6(d) certificate to your buyer or their agent.
Why can’t a 6(d) certificate be emailed?
The 6(d) certificate is an official document which is signed and notarized by an authorized agent for your condominium association. The original document is normally recorded with the registry of deeds and with your closing documents. A copy can’t be recorded.
What is a condominium questionnaire?
A condominium questionnaire, also commonly referred to as an affidavit, certification or checklist, is typically a document that is required, by a lending institution, to be completed by an authorized agent of your homeowners association.
Why does my (or by buyer’s) bank need you to fill out the condominium questionnaire?
Lenders require this to be completed in order to review the condominium’s information to verify to their underwriters that the association is within their allowed lending guidelines. In many cases, the lender can accept our free standard fact sheet for the property in place of having us fill out their form. However, larger banks (such as Bank of America, Wells Fargo, etc.) use a nationwide underwriter and will, in nearly all cases, require their own form be completed.
Why does my (or by buyer’s) bank need you to fill out the condominium questionnaire?
Lenders require this to be completed in order to review the condominium’s information to verify to their underwriters that the association is within their allowed lending guidelines. In many cases, the lender can accept our free standard fact sheet for the property in place of having us fill out their form. However, larger banks (such as Bank of America, Wells Fargo, etc.) use a nationwide underwriter and will, in nearly all cases, require their own form be completed.
Why do I have to pay for a condominium questionnaire to be completed?
Condominium associations are required under MGL Chapter 183a or any other condominium documents to complete these questionnaires and affidavits. As these affidavits may be a requirement for some lending institutions, we offer the service of completing these forms to help you to complete your sale/refinance. These forms vary from lender to lender and require extensive review. Due to the liability associated with these forms, all questionnaires are completed under the guidance of the condominium’s attorney and to the best of our ability.
Is there an alternative to the condominium questionnaire?
Yes, we offer a free standardized fact sheet which you can request by submitting our document request form. This form includes all required information for your sale or refinance transaction.
Note: not all lenders will allow you to substitute their custom questionnaire with our fact sheet due to their own underwriting requirements. This varies depending on your lending institution.
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