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Seller/Realtor Info
 
Wellington Chase Condominiums
 
Wellington Chase is organized as a Kentucky not-for-profit condominium association.  Owners own their own individual unit and a percentage share of the common elements and property.  Some units include deeded garages and some units do not.
 
There are four basic unit types within the development and the monthly maintenance fees vary according to the square footage of each unit.  The larger the unit the higher the monthly dues.  The unit types and the 2019 dues are (units with garages add $12 a month to the dues):
 
Unit Type Square Footage Monthly Dues*
Belmont 1124 $245.00
Lyndon 1355 $295.40
Montgomery 1442 $314.35
Summit 1569 $342.05
                                    * Monthly Dues include residential water and sewer charges
                                       Owners are responsible for their Electric, cable and phone services
                                
Selling a unit at Wellington Chase
 
In accordance with the Kentucky Condominium Act, each seller must order from the association a "Sellers Disclosure Certificate".  This certificate contains all the information that needs to be disclosed to a buyer by the seller including dues, special assessments, lawsuits, financial statements, budgets, Rules and Regulation and all of the Governing Documents.  The cost for preparing this Certificate is 80% of one month's association dues.  Go to www.homewisedocs.com to order your certificate.  
 
Buyer Capital Reserve Payment
 
At closing, each Buyer will be required to pay two month's association dues as a Capital Reserve payment which will go into the association's Replacement Reserve Funds.  This is a one-time, non-refundable payment due at closing.
 
Items Buyers need to obtain at closing
 
To avoid costly expenses Buyers need to be sure they obtain the following items at closing from the unit seller:
  1. Clubhouse/Pool Key:  Replacement keys cost $100 so be sure to obtain the seller's key.
  2. Mail Box Key:  If you do not have a mailbox key, the new owner will be required to have a locksmith make a new key.  Approximate Cost $120.  Neither the Post Office nor the Management Company have replacement keys.
  3. Building Door and Unit door keys.
  4. Garage Door opener, if the unit you are purchasing includes a garage.
  5. Any codes for doors.
  6. Once closing takes place owner needs to contact CMA to update door system and information.
 
 
 
 
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