Resale Disclosure Checklist Resale Disclosure Checklist Home sellers are required to disclose any material fact that any prudent buyer would want to know before completing a purchase. While there are statutory disclosure requirements of single family home sellers, the same disclosures are generally not required of homeowner association home sellers. Meeting Minutes Get them for the last 12 months.
Budget Get the most recent year's approved budget.
YTD Financial Report Get a year to date report which compares actual expenses to budget. Assessment levels often increase at the first of the year. If buying in the last quarter of the year, always check for proposed increases. A 30 year plan for association maintained components like roofs, painting, paving, etc. Failure to plan for predictable long range expenses often mirrors a lack of ongoing maintenance which causes spiraling property values.