Buying homes in neighborhoods that have an HOA has both positives and negatives, and you should tell your buyers about them.
Prospective new owners should be aware that they will be liable for monthly HOA payments and all assessment spending. You should let them know what they will get in return.
A resale package is a set of legally binding documents offering prospective purchasers information they need about a property. The purpose of these documents is to make sure that the transfer of the property between parties happens smoothly and effectively when it comes to sale time.
Statement of Account
The Statement of Account is a single page legally binding document that shows the position of the current property owner’s Association account. This will allow prospective buyers to see that the seller has no outstanding assessments that could fall to the new buyer.