Since Preston Meadow is a mandatory HOA neighborhood, a Resale Certificate (RC) must be obtained from the HOA before a home can be sold to another party. To ensure the HOA is prepared to issue a RC, homeowners should notify the Treasurer or any other Board member that the property is for sale.
The RC provides a snapshot of the HOA's view of the property at the time of sale. It contains information such as the amount of the yearly assessment, what amounts (if any) are owned to the HOA, and whether or not any compliance violations are present. The RC expires after approximately 90 days, and is best requested by the Title Company once a sale is imminent and the closing has been scheduled.
To request the RC contact the Treasurer at [email protected]
. Be sure to include the property address in the subject line of your email. The resale package fee is $175. Payment is due to Preston Meadow HOA and can be mailed to PO Box 260991, Plano, TX 75026-0991, or delivered directly to the treasurer by prior arrangement. Once payment is received the treasurer will email the Resale Certificate and all additional required documents to the requestor.
If you are refinancing your home, the Treasurer will provide an account status statement without charge. A minimum fee of $25.00 is assessed if your mortgage company requires additional information.