Seller Disclosure in a Homeowner Association
The California Davis-Stirling Act requires sellers of properties with an HOA to provide buyers with an extensive set of disclosure documents. This allows buyers to either accept the HOA or cancel the purchase contract without penalty within a specified number of days – the HOA contingency.
Sellers often assume the HOA disclosure package they paid for is complete, accurate, and fulfills their disclosure obligations per Civil Code. Unfortunately, this is often not the case which can result in extensions to the HOA Contingency period, or worse, liability after closing for a material fact(s) that were missing from the disclosure package.
Your Agent’s brokerage or transaction coordinator may provide this service. It is important to confirm their checklist includes the 33 documents required by law (35 documents for new construction).
Sellers often assume the HOA disclosure package they paid for is complete, accurate, and fulfills their disclosure obligations per Civil Code. Unfortunately, this is often not the case which can result in extensions to the HOA Contingency period, or worse, liability after closing for a material fact(s) that were missing from the disclosure package.
Your Agent’s brokerage or transaction coordinator may provide this service. It is important to confirm their checklist includes the 33 documents required by law (35 documents for new construction).
Your Minimum Level of Protection
Report A: HOA Document Disclosure Checklist – $75
We analyze all documents provided in your HOA Disclosure package.
Provide a checklist of documents:
– Received
– Received but out-of-date or invalid
– Documents that are missing
You can then reach out to your HOA with the checklist to obtain the missing
documents. There should not be any additional charge to unless you did not
initially order the complete document set.
Document contents are not reviewed.
Provide a checklist of documents:
– Received
– Received but out-of-date or invalid
– Documents that are missing
You can then reach out to your HOA with the checklist to obtain the missing
documents. There should not be any additional charge to unless you did not
initially order the complete document set.
Document contents are not reviewed.