Buying & Selling

Important Documents

Prior to purchasing in Osburn Lakes all buyer should read and understand the condominium documents. At closing please have the buyer sign off that they have received the following documents and submit a copy of the document to the PO Box along with the capital contribution.

Fees & Costs

Capital Contribution – All new owners are required to make a non-refundable capital contribution of $100. This should be paid at closing and sent to the associations PO Box.

Annual Dues – Annual dues are $250 and are paid in January of each year. Late fees are $25 each month.

Past Due Accounts - All past due accounts at the end of the calendar year are subject to a 15% fee.

Fines - Fines are assessed per our fine policy found under documents.

Build Process

If this is a new build lot, there is a process the new homeowner will need to follow prior to building. Please note, the master deed and bylaws contain neighborhood specific requirements.

Association Insurance Binder

The board carries insurance on the common property. A copy of the policy can be obtained by filling out this online form.

Common Questions

Are the streets in the association private or public? They are public roads maintained by the City of Owosso.

When are annual dues collected? They are collected in January of each year.

How much are the annual dues? $250 annually

How much is the capital contribution? New owners pay a non-refundable $100 capital contribution at closing. The title company should collect this and send it to the association.

Can the dues be escrowed? We do not offer escrow billing. 

Good Standing Status

To make a smooth transition from one owner to the next, it is important that the unit is in good standing with the association. To check, realtors / lenders / title companies should do the following.

Check the financial status and violations status – The vast majority of the units in the neighborhood are in good standing with the HOA. However, some units may have outstanding issues or are delinquent. Please contact us at board@osburnlakes.com for a status letter.

Check for liens – From time to time when a unit has been delinquent for period of time, the board will place a lien on a property to secure the debt. A lien search should also be completed.