BULLETIN NO: 2024-12<\/p>\n
=e<\/p>\n
Laguna Woods Village<\/p>\n
BULLETIN DATE<\/p>\n
May 1, 2024<\/p>\n
Pamela Bashline<\/p>\n
ISSUED BY<\/p>\n
INFORMATION BULLETIN<\/p>\n
Community Services Manager<\/p>\n
MUTUAL<\/p>\n
Third Laguna Hills Mutual<\/p>\n
Community Services Division<\/p>\n
AUTHORITY<\/p>\n
Internal<\/p>\n
EFFECTIVE DATE | June 3, 2024<\/p>\n
SUBJECT: Revised Third Resale Package Dated May 1, 2024<\/p>\n
NEWSFLASH \u2014- EFFECTIVE JUNE 3, 2024<\/p>\n
Third Mutual’s resale package has been updated to reflect new inspection fees, as referenced in<\/p>\n
Informational Bulletin 2024-11, the removal of low-flow toilet requirements, as referenced in<\/p>\n
Informational Bulletin 2024-06, and other minor changes.<\/p>\n
The updated resale package is now dated May 1, 2024, but will not be effective until June 3,<\/p>\n
2024. The revisions affect the following pages as noted below:<\/p>\n
LJ<\/p>\n
Page 1 \u2014 Under 1a, the word \u201cHills\u201d was changed to \u201cWoods.\u201d<\/p>\n
Page 3 \u2014 The table of contents was revised to reflect updated page numbers and the removal<\/p>\n
of the \u201cLow Flow Toilet Statement of Compliance\u201d and \u201cResident ID Card(s) and Decal(s)<\/p>\n
Returned or Declaration of Loss Affidavit\u201d language.<\/p>\n
Page 5 \u2014 The new fees are reflected as follows:<\/p>\n
Administration fee<\/p>\n
$400<\/p>\n
First inspection fee<\/p>\n
$250<\/p>\n
Reinspection (if required)<\/p>\n
$50<\/p>\n
Final inspection (if required)<\/p>\n
$90<\/p>\n
Escrow cancellation<\/p>\n
$112<\/p>\n
GREF trust facilities fee<\/p>\n
$7,500<\/p>\n
Failure to surrender ID cards<\/p>\n
$125<\/p>\n
LJ<\/p>\n
Page 6 \u2014 The escrow documentation checklist was revised as follows:<\/p>\n
Under number 3, the words \u201cprepare in duplicate\u201d was removed.<\/p>\n
\u201cLow Flow Statement of Compliance (invoice\/receipt and toilet specs)\u201d was removed.<\/p>\n
Under what is now number 6, the language reads as follows: \u201cOwner\/Membership<\/p>\n
Application with enlarged, black and white copies of age verification ID \u2014 driver’s<\/p>\n
license, passport, birth certificate, etc.\u201d<\/p>\n
All language regarding \u201cResident ID Card(s) and Decal(s) Returned or Declaration of<\/p>\n
Loss Affidavit\u201d was removed. Please note that the removal of this language does not
\npreclude you from providing Community Services with the physical ID cards from<\/p>\n
the sellers before the close of escrow.<\/p>\n
Under the \u201cBefore escrow can close\u201d section, the following language was added:<\/p>\n
\u201cReturn Seller’s ID Cards to Resales Dept. before the close of escrow. Must indicate to<\/p>\n
staff if ID cards will be surrendered. Failure to surrender ID Cards will result in a $125<\/p>\n
fee for each card on the escrow demand.\u201d<\/p>\n
Under the \u201cNotice of escrow closed\u201d section, the following language was added<\/p>\n
pertaining to surrendering ID cards: \u201cdropped-off in Resales Dept.\u201d<\/p>\n
Page 7 \u2014 In relation to the first and final inspections, resolution number 03-07-119 has been<\/p>\n
changed to 03-24-40, and the following sentence has been added: \u201cRequest for Reinspection<\/p>\n
Report – Per Resolution 03-24-40, a reinspection fee will be collected through escrow, if<\/p>\n
required.\u201d<\/p>\n
Page 8 \u2014 The effective date of September 1, 2018, has been removed. Under the<\/p>\n
\u201cCorrections by members\u201d paragraph, the last sentence will now read \u201cIf corrections are found<\/p>\n
to be incomplete at the final inspection, an additional reinspection fee will be charged to the<\/p>\n
seller(s).\u201d<\/p>\n
Page 9 \u2014 The resale notification cover page was revised by removing the words \u201cprepare in<\/p>\n
duplicate,\u201d \u201cLow Flow Toilet Statement of Compliance\u201d and \u201cResident ID Card(s) Returned or<\/p>\n
Declaration of Loss Affidavit.\u201d In the paragraph prior to the signature lines, the words \u201cif<\/p>\n
required\u201d were added after the words \u201cfinal inspection.\u201d<\/p>\n
Page 11 \u2014 On the escrow closing notification and transmittal report page, the following<\/p>\n
changes have been made to read as follows:<\/p>\n
[\u00a2]<\/p>\n
2(b) \u2014 Final inspection fee (if required) (Third $90)<\/p>\n
[\u00a2]<\/p>\n
2(c) \u2014 Reinspection fee (if required) (Third $50)<\/p>\n
[\u00a2]<\/p>\n
2(f) \u2014 Failure to surrender ID card(s) ($125 each \u2014 nonrefundable)<\/p>\n
[\u00a2]<\/p>\n
3 \u2014 Passages \u201cID cards and vehicle decals\u201d and \u201cDeclaration of Loss affidavit for gate<\/p>\n
entry passes\u201d and \u201cvehicle decals\u201d were removed<\/p>\n
Page 13 \u2014 The seller’s authorization for release of information was reformatted.<\/p>\n
Page 16 \u2014 Under Owner\/Membership Application, the words \u201cand Occupancy Agreement\u201d<\/p>\n
were removed. The paragraph regarding felonies and misdemeanors was removed. Language<\/p>\n
has been added that a member must initial and acknowledge that a monthly fee for each<\/p>\n
occupant in excess of two shall be charged to the member’s account.<\/p>\n
Page 22 \u2014 Under Financial Statement and Credit Information, the language \u201cOccupancy<\/p>\n
Agreement, as applicable to cooperative membership\u201d and the words \u201cstock certificate\u201d were<\/p>\n
removed, and the words \u201cthe Covenants, Conditions and Restrictions (CC&Rs)\u201d were added.<\/p>\n
Page 33 \u2014 Under Enjoying Your Life in Third Laguna Hills Mutual, the fourth paragraph<\/p>\n
clarified that members must obtain Third mutual consents and city permits before starting any<\/p>\n
alterations.
\nPage 34 \u2014 Under Last-Minute Reminders, the television channels under No. 3 were updated<\/p>\n
and the option to register guests, vendors and contractors for gate access under dwellingLIVE<\/p>\n
was added under No. 7.<\/p>\n
Page 35 \u2014 The key file program page has been reworded.<\/p>\n
Page 37 \u2014 Under Application for Co-Occupancy Permit, the following changes were<\/p>\n
made:<\/p>\n
o The words \u201cOccupancy Cancellation\u201d were added after \u201cUnder the Member<\/p>\n
Acknowledgment of Additional Occupant Fee\u201d section.<\/p>\n
[\u00a2]<\/p>\n
All buyers who fill out the co-occupancy permit application must initial their<\/p>\n
acknowledgement of \u201cOwner\/Member is responsible for notifying Laguna Woods<\/p>\n
Village when additional occupant(s) have moved out of the unit and for returning<\/p>\n
additional occupant(s) ID card to avoid charges to the account.\u201d<\/p>\n
LJ<\/p>\n
Page 38, language pertaining to felonies and misdemeanors was removed.<\/p>\n
As a reminder, please always use the most recent resale packages and please delete all outdated<\/p>\n
Third Mutual resale packages from your system, as forms are frequently revised and updated.<\/p>\n
After June 3, any incomplete or older applications that don\u2019t have the May 1 date will not be<\/p>\n
accepted or processed.<\/p>\n
Find the most recent resale packet dated 5\/1\/2024 by visiting lagunawoodsvillage.com ><\/p>\n
Neighborhoods > Realtor & Escrow Information > Resale Package and selecting Third<\/p>\n
Laguna Hills Mutual.<\/p>\n
Realtors and escrow officers must inform their staff and clients of these guidelines.<\/p>\n
Important: Please always refer to the website for the most current documents. The location for all<\/p>\n
mutual policies may change with the completion of the redesigned website.<\/p>\n
Email alterations@vmsinc.org with questions about the new fees. Thank you.<\/p>\n","protected":false},"author":2,"featured_media":0,"template":"","document_category":[1227],"document_type":[53],"class_list":["post-50162","document","type-document","status-publish","hentry","document_category-realtor-info-bulletins","document_type-other"],"acf":{"document":48003,"resolutions":null,"legacy_id":"9479","pdf_extracted_text":""},"yoast_head":"\n