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Updated almost 12 years ago,

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2
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0
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Jason C
  • Springfield, IL
0
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2
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Resale Certificate

Jason C
  • Springfield, IL
Posted

I have recently bought my first investment property (condo) in Missouri. As part of this process I have learned that MO law requires the Seller to purchase and provide a Resale Certificate to the buyer. However, in my specific instance, the seller (a bank) is refusing to pay for the resale certificate. My agent tells me that since they are refusing to pay, the responsibility to obtain a certificate falls on me, the buyer. I have spoken with the title company and the bank financing my purchase and both have indicated that they do not require this certificate (to close). My question is whether or not anyone has come across a situation similar to this and whether anyone can provide advice on how to proceed? Am I opening myself up to any specific or additional liability by not purchasing the resale certificate?

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