Documents to Request
Obtain CC&Rs, bylaws, rules & regulations, annual budget, reserve study (last 3 years if updated), insurance certificates, and recent meeting minutes. Sellers or HOA management companies provide resale packages — delays here push closing dates. Read rental restrictions, pet policies, parking rules, and architectural approval processes relevant to your plans.
Financial Health
Reserve funding should cover major common-area replacements per study recommendations. Ask about pending special assessments, bank loans taken by HOA, and litigation with developers or owners. Delinquency rates above 10–15% stress budgets. Compare current dues to five-year trend — sharp increases may continue if reserves were underfunded.
Checklist Summary
- Total monthly/quarterly dues including all sub-associations.
- Transfer fee and working capital contribution at closing.
- Pending violations on subject property — seller must cure.
- Confirm mailbox, gate fob, and amenity access transfer process.