FAQ for Realtors

 

1.  What kind of Open House and For Sale signs are allowed in Greenwood Village?

a.  For Open Houses, the GVCA office, found in the clubhouse at 830 Village Club Drive, rents Greenwood approved “Open House” signs on a weekly basis with a deposit of $40.00 per sign. The deposit is returned when the signs are returned to the office.

The GVCA office hours:
Sunday & Monday: Closed
Tuesday & Friday: 7:00 am – 10:30, 11:30 – 3:30 pm
Wednesday & Thursday: 10:30 am – 1:30 pm, 2:30 – 7:00
Saturday: 8:30 am – 10:30, 11:30 – 5:00 pm

b.  If you wish to keep the signs, they are also for sale for the same amount.
c.  The Open House signs are only allowed to be up during the actual Open House hours.
d.  Property For Sale signs. A “For Sale” sign (11” x 14”) is only permitted in the window of the unit or residence that is for sale. All other “For Sale” signs are prohibited.

2.  What should a realtor explain to potential buyers looking for a townhouse, condominium, or single family home in Greenwood Village?

a. Realtors should inform potential buyers that they are not just buying a new home but a place in a planned community of over 1500 housing units made up of condominiums, townhouses, apartments, and single family homes. These are governed by eighteen different associations operating under the umbrella of the Greenwood Village Community Association (GVCA).

b. Buyers need to be aware that they are subject to a set of rules and procedures to insure that the appearance and value of Greenwood Village properties are maintained to benefit all owners. Any proposed changes to a housing unit or property must therefore have prior approvals from the relevant association and from GVCA.
For more information:
FAQs for Interested Buyers and Renters
FAQs for Current Residents
ACCES Rules and Procedures

c. All owners must pay semi-annual fees to the Greenwood Village Community Association (GVCA) to support the management of Greenwood, care for the common facilities (clubhouse, pools, tennis courts) and property, and to fulfill the legal requirement for Reserve Funds.

d. In addition, condominium owners pay a separate monthly fee to their individual association to pay for maintenance to the common portion of the units and their common property. Single-family homeowners are responsible for the cost of maintaining their home and property.
For more information:
Condominium Association Facility Suspension Rules
GVCA Enforcement Assessment

e. Prospective owners should contact the management companies who manage the condominium association affairs about fees, rules, etc
Greenwood Condominium & Apartment Associations

f. All owners have use of the Greenwood Village facilities, which include the indoor and outdoor pools, the tennis courts, Marshall Lake, common areas, and the Clubhouse with its party rooms and exercise area. There is also access to biking and hiking trails in the adjacent Cuyahoga Valley National Park.

g. Potential buyers or renters can access the GVCA website (greenwoodohio.org) for more information about the community.

3.  What does a Realtor need to tell the buyer and the Title Agency?

a. The Realtor, upon making a sale, should tell the Title Agency that all units are part of GVCA, and some units have two associations in addition to their condominium association, and they need to check the seller’s standing with both.
GVCA Contact Information
Condo Associations

b. The Realtor should tell the Title Agency that the GVCA charges a $75 transfer fee that is payable by the buyer.

c. The Realtor should tell the buyer to stop by the GVCA Office to pick up their Homeowners Documents book and a temporary Activity Pass once the property transfers and the transfer fee is paid. This saves delivery costs and gets the buyer into the system more quickly.

d. The Realtor should remind the buyer to notify the GVCA office if the billing/mailing address will be different from the Greenwood address.

4.  What should a Realtor explain to potential renters looking in Greenwood?

a. The principal leasing or rental venue in Greenwood is Williamsburg Townhomes’ rental office at 330-468-3499. Williamsburg residents are members of GVCA and have same rights to enjoy the facilities

b. Other units for rent may be found in the Greenwood Village website in the Classified Housing ads or the printed Greenwood News available at the Newsletter box in front of the Clubhouse.

5.  What should a realtor explain to potential buyers looking for investment property in Greenwood?

a. Realtors should inform potential buyers most condominium associations have bylaws that prohibit the renting of units, so they need to check their rules before buying.

b. There is no restriction on the renting of single family homes.

c. An owner is allowed to sign over to the renter the right to use the GVCA facilities, such as the pool, tennis court, and party room rental. However, the owner is responsible for any damage caused by the renter to the GVCA facilities.

 

FAQ for Title Companies

1. What are the title transfer requirements when purchasing a home in Greenwood Village? (Current question on Title co FAQ’s)

The Title agency must notify the GVCA office (330-467-7036) of pending purchases in Greenwood Village so any GVCA fees can be included in closing costs. There is a $75 transfer fee that is payable by the buyer to GVCA.