What is an estoppel certificate and why does my buyer want one?

An estoppel certificate is a document from an HOA or condo association confirming a property's current dues, any outstanding balance, and pending assessments as of a specific date, which a buyer's lender typically requires before closing on a property with an association. It protects the buyer from inheriting an unknown debt tied to the unit. Brian Beatty requests this document early on any Lowcountry purchase with an HOA involved.