Timely CID Disclosure and Due Diligence

Sellers provide the documents—but do not verify accuracy or explain what they mean. Without a proper review, you may not fully understand the HOA’s financial condition or legal risks. A professional review is critical to understanding the HOA’s financial health and legal status.

HOA Disclosure documents define:

  •  Buyer’s financial obligations
  • Buyer’s rights and restrictions

Required Disclosure List:

Governing Documents

  • CC&Rs (Covenants, Conditions & Restrictions)
  • Bylaws
  • Articles of Incorporation
  • Rules & Regulations

Financial Documents

  • Most recent operating budget
  • Reserve study / funding disclosure summary
  • Statement of outstanding assessments or fees

Assessment & Fee Information

  • Regular assessment (dues) amount
  • Special assessments (approved or pending)
  • Late fees, interest, and collection policies

Insurance Summary

  • Summary of the association’s insurance coverage
  • Types of coverage (liability, property, etc.)

Legal & Compliance Disclosures

Notice of any pending litigation involving the HOA

Statement of any violations related to the property

Required statutory notices under the Davis-Stirling Act

Additional Required Items

  • Most recent Annual Policy Statement
  • Most recent Annual Budget Report
  • Minutes of board meetings (typically last 12 months)
  • Disclosure of any unpaid assessments or liens on the property.