Contract — Pages 5–6: CIC & Disclosures

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Section 6 of the Buyer Contract Training course. This lesson walks through pages 5–6 — common-interest community (cic) & disclosures. Open the RPA PDF below and follow every line reference as you read.

HOA / CIC

• On homes with an HOA, the Seller must provide an HOA Resale Package by day 15.
• The buyer then signs the Resale Receipt and has five (5) days to review and accept or cancel. (STATE LAW)
• Any HOA questions go to the HOA — we are simply document delivery.
• Sellers traditionally pay all the fees. High-Rise Buyers and New-Build Buyers pay Cap Contribution — usually 2–3× the HOA fee or a % of the sale price each time sold. Verify with HOA.

Disclosures

• Within five (5) days per Line 2 — Seller must deliver.
• Line 5 — SRPD is REQUIRED. Seller cannot ask to waive or sign remedy. (STATE LAW)
• Line 8 — Review SRPD to see if anything is needed after the contract.
• Line 10 — LBPD must be done if constructed before 1978. (LAW — must be fully executed.)
• Line 13: Any additional items the Buyer may need. If tenant-occupied (Multi-Family, etc.), write “All leases, prop management contracts, maintenance, and utility records.”