What Financial Information Must Your Association Disclose to Prospective Homeowners?


Home \| Browse by Topic \| Discussion Forum \| Tell a Friend \| Text Size \| Search \| Member Area

What Financial Information Must Your Association Disclose to Prospective Homeowners?

One of your members has put her unit up for sale. She gets an offer and accepts it. You then get a request for all kinds of home owners association records from the buyer. What's your response? What must your association provide when prospective homeowners ask for your association's governing documents? What about your financial documents and minutes? What if the buyer asks the number of delinquent owners and the amount of the delinquencies? The answer to those questions depends on your state's law and your internal practices. Some states have rules requiring associations to provide extensive detail to potential buyers. Others are silent on the issue. Here's an overview. . . . (to read the remainder of this article, please log in below.)

The resource you have requested is available only to current members.

Forgotten Password?
If you are a current member and have forgotten your password, enter your email address below, and your password will be emailed to you.

Need to Renew Your Membership?
If your membership has expired and you wish to renew, visit the Membership Renewal Form.

Improve your HOA's legal compliance—and train your board and management team in best practices more easily

Updates: the latest new laws and court cases affecting HOAs
Analysis: Plain-English explanations of what those developments mean to you
Advice: Step-by-step guidance on best practices
Tools: Checklists, Sample Policies and Forms
Community: Access to HOA board members across the country who understand the challenges you face

Click here for quick FREE trial sign-up.

About HOAleader.com

HOAleader.com's attorney editors and experienced journalists constantly research the latest developments affecting homeowner associations across the U.S. Then we publish plain-English analyses of what those developments mean to you, and what you need to do now to steer clear of legal trouble, avoid or resolve conflicts within your association, and safeguard your community's property values and quality of life.