Louisiana-based Punctual Abstract recently expanded its offerings to include HOA Certification estoppel letter services, the company announced.
“Punctual Abstract now offers estoppel letters to the title insurance industry as a tool to aid in the transfer of property and to ensure that no future title claim shows up because of an outstanding balance with the homeowners association (HOA),” CEO Ted Woloszyk said in a release.
“An association estoppel, sometimes referred to as an HOA Certificate or an estoppel letter, is a complete look at a property’s status within the homeowners association, or condo association,” Woloszyk said. “It answers questions regarding outstanding assessments, what dues are required and when, if there are capital contributions, or any other financial obligations a buyer may encounter and be liable for.”
Punctual Abstract said the new service enhances its offerings to the title industry by making the firm a “one-stop-shop” for abstracts, title research and HOA Certificates.
“This service will save our title agent clients time and money as they’ll manage fewer vendors, while obtaining the information they need for closing, and remaining in compliance with federal standards,” Woloszyk said.