Can the disclosure be signed electronically?

Yes. Under the ESIGN Act (15 U.S.C. ch. 96) and UETA (where adopted), electronic signatures are generally enforceable for transactional documents. Verify that the transaction is not an exception and obtain consent to electronic records when consumer-facing.

Is notarization required for the disclosure?

Notarization requirements vary by state and sometimes by document type. Many disclosures do not require notarization, but attachments (deeds, affidavits) may. Check local recorder or title instructions and apply state notarization rules where applicable.

Who should sign if the HOA has a management company?

An authorized board officer or an agent with written authority should sign to certify the disclosure. Management companies may execute if documentation shows delegated authority from the board or association.

What if information changes after signing?

If material facts change, provide corrected information in writing and document delivery. Significant omissions or new litigation may require curative disclosure to the buyer and possibly escrow adjustments.

How long should an HOA keep executed disclosures?

Retain signed disclosures per record retention policy; federal standards like IRS rules require 3 years for tax-related records. Industry and state rules may call for longer retention for real estate matters.

Can a buyer cancel for inaccurate disclosure?

Remedies depend on contract terms and state law; buyers may seek rescission, damages, or cure prior to closing. Prompt correction and transparent communication reduce legal exposure.

Electronic Signature
Templates
Legal
HOA Disclosure Statement

HOA Disclosure Statement

This template is fully customizable. Edit the text, fill out the fields, and send it for signature. Give it a try!

HOA DISCLOSURE STATEMENT

This Homeowners Association Disclosure Statement is made as of by and between Seller Name: (Seller) and Homeowners Association Name: (Association), an entity organized under the laws of State: with principal address: .

RECITALS

WHEREAS, Seller is the legal owner of the real property commonly known as Property Address: (Property), which is subject to the Declaration of Covenants, Conditions and Restrictions, Bylaws and Rules of the Association (Governing Documents); and

WHEREAS, prospective transfer, sale or financing of the Property requires disclosure of the Association's financial condition, assessments, restrictions and other matters material to ownership; and

WHEREAS, the Association furnishes this Statement to comply with applicable law and to inform Seller and prospective purchasers of the Association's current status and obligations affecting the Property.

NOW, THEREFORE

The parties agree as follows:

1. DEFINITIONS

For purposes of this Statement, capitalized terms not otherwise defined have the meanings set forth in the Governing Documents. "Assessments" means regular common expense assessments, special assessments and any other sums levied by the Association against owners; "Common Areas" means all property owned or maintained by the Association for common use.

2. ASSOCIATION IDENTIFICATION & CONTACT

Association Mailing Address Association Contact Person Management Company / Agent

3. ASSESSMENTS, FEES AND CHARGES

Regular assessment amount per period: ; Frequency: ; Next due date: .

Late fee policy: . Interest on unpaid assessments: .

Special assessments presently approved or proposed: Yes If checked, total approved amount: ; Expected payment schedule: .

4. RESERVES AND FINANCIAL CONDITION

Current reserve fund balance: . Date of last approved annual budget: . Date of most recent reserve study: . Association represents whether reserves are adequate to meet anticipated major repairs and replacements:

5. INSURANCE

The Association maintains a master insurance policy covering Common Areas: . Type of coverage and extent: . Standard deductible applicable to unit damage: . Owners may be responsible for insurance of unit interiors per the Governing Documents: .

6. LITIGATION AND CLAIMS

Pending or threatened material litigation, arbitration or administrative proceeding involving the Association: Yes No.

If yes, describe nature, parties, and status

7. GOVERNING DOCUMENTS AND RECORDS

The Association represents that the following documents are available and are provided with this Statement (check all that apply):

Declaration of Covenants, Conditions & Restrictions (CC&Rs)
Bylaws
Rules & Regulations
Most recent Financial Statements
Reserve Study
Minutes of Recent Meetings
Master Insurance Policy (or summary)

Seller acknowledges receipt of the documents indicated above: .

8. USE RESTRICTIONS, LEASING AND OTHER RULES

The Governing Documents impose use restrictions including, but not limited to, architectural controls, parking restrictions, pet restrictions and leasing limitations. Leasing restrictions in effect: Yes No.

If leasing restrictions exist, state material limitations (minimum lease term, owner occupancy requirements, approval process, caps):

9. TRANSFER, ESTOPPEL, AND OTHER FEES

Transfer fee due upon sale (if any): . Estoppel certificate fee: . Typical turnaround time for estoppel issuance: .

10. COLLECTION, DEFAULT AND REMEDIES

Remedies for delinquent assessments include late charges, interest, suspension of privileges, recording of lien, and foreclosure in accordance with the Governing Documents and applicable law. The Association's authorized methods and priorities for collection are set forth in the Governing Documents and may include recovery of attorneys' fees, costs, and other collection expenses.

11. NOTICES

Association Notice Address for Transfer and Billing Seller Notice Address (for delivery of estoppel/resale docs)

12. AMENDMENTS; WAIVER

No amendment, modification or waiver of any provision of this Statement shall be effective unless in writing and executed by both parties. Failure by either party to enforce any provision shall not be deemed a waiver of future enforcement rights.

13. GOVERNING LAW; ENTIRE AGREEMENT; SEVERABILITY

This Statement shall be governed by and construed in accordance with the laws of the State of . This Statement, together with any attached documents expressly incorporated by reference, constitutes the entire agreement between the parties concerning the subject matter hereof and supersedes all prior oral or written representations. If any provision of this Statement is held invalid or unenforceable, the remaining provisions shall remain in full force and effect.

14. COUNTERPARTS

This Statement may be executed in counterparts, each of which shall be deemed an original and all of which together shall constitute one instrument. Facsimile or electronically transmitted signatures shall be binding for all purposes.

15. CERTIFICATION

The undersigned certify, under penalty of perjury under applicable law, that the information contained in this Statement is true and correct to the best of their knowledge as of the date set forth below and that the documents indicated as provided are true copies of those on file with the Association.

Seller Name:

By:

Date:

Association Name:

By:

Date:

What an HOA Disclosure Statement Is and when it matters

An HOA Disclosure Statement is a written report prepared by a homeowners association or seller that summarizes covenants, conditions and restrictions (CC&Rs), current assessments, special assessments, pending litigation, insurance coverage, and management contact information for a community. It is typically provided to prospective buyers during a real estate transaction so purchasers can review obligations tied to the property. The document helps buyers and title companies identify recurring fees, transfer rules, or restrictions that could affect property value, financing, or use. Prepared accurately, it supports a smoother closing and clearer post-closing administration.

Why a clear HOA Disclosure Statement matters for transactions

A complete HOA Disclosure Statement protects buyers, sellers, and title insurers by disclosing recurring fees, governance rules, and outstanding liabilities that affect ownership.

Who prepares, delivers, and relies on HOA Disclosure Statements

Typical participants in preparing and reviewing the disclosure — roles and responsibilities.

Listing agents and sellers who must supply full and timely disclosure to buyers and escrow.
HOA managers or boards that maintain records, financials, and the CCRs required for disclosure.
Title and escrow companies that verify disclosures and advise on curative steps before closing.

Each party has distinct responsibilities: the HOA or manager provides the records, sellers present them during sale, and buyers review them with counsel or agents.

Step-by-step: completing an HOA Disclosure Statement

Follow a consistent sequence to gather records, complete required fields, obtain signatures, and deliver documents to buyer and escrow.

01

Gather records: Collect CCRs, bylaws, budget, and insurance evidence.
02

Complete form: Fill all required disclosure fields accurately.
03

Obtain approvals: Board or manager signs and dates the statement.
04

Deliver copies: Send to buyer, title company, and retain HOA copy.

Essential components a professional HOA Disclosure includes

A robust disclosure groups governance, finances, assessments, legal matters, insurance, and contact information for easy buyer review.

Governance Documents

CC&Rs, articles of incorporation, and bylaws should be referenced and attached with revision dates so buyers can confirm use restrictions and architectural controls enforceable against the property.

Financial Summary

Include a current budget, reserve study highlights, operating cash, and any known shortfalls to give buyers a snapshot of fiscal health and potential assessment risk.

Assessment Schedule

Detail regular assessment amounts, billing frequency, delinquency policy, and any approved or proposed special assessments that could affect future owner costs.

Pending Litigation

Disclose active lawsuits or threatened claims involving the association that may trigger special assessments, injunctions, or changes to common area use.

Insurance Coverage

Summarize property and liability insurance limits, deductible responsibilities of owners, and whether earthquake or flood coverage is included or recommended.

Contact Details

Provide management company contact, board liaison, and the official records custodian so buyers and title agents can verify or follow up promptly.

Required information typically included on the statement

HOA Identity: Full legal name

Governing Papers: CC&Rs and bylaws listed

Assessment Amounts: Regular and special fees

Insurance Summary: Coverage type and limits

Pending Claims: Litigation status noted

Records Contact: Manager or custodian info

How to configure a digital workflow for the disclosure

Map each document field to a signer role and authentication level to streamline electronic completion and auditability.

Field	Configuration
Signature Field	Assign to board officer; require date
Authentication	Use email plus SMS code for verification
Conditional Fields	Show litigation detail only if 'Yes' selected
Retention Settings	Enable PDF/A export and auto-archive

Technical considerations for eSigning and sharing disclosures

Ensure chosen eSignature and document systems support required formats, audit trails, and integrations with title or escrow platforms.

Integrations: Salesforce, NetSuite, Box supported
File Formats: PDF, DOCX, HTML, Excel
Audit Trail: IP, timestamp, signer details

Where the HOA Disclosure goes during a sale

Distribute the disclosure to the buyer, escrow/title, and retain an HOA copy; follow lender and local custom for additional routing.

To the Buyer: Provided with the sale package
Title/Escrow: Send for underwriting and escrow review
Lender: Provide on request for loan approval
HOA Records: Keep signed copy in official records

Typical timing and deadlines buyers and sellers should expect

Timing varies by state and contract terms; start the disclosure process early to avoid escrow holdups and allow buyer review time.

At Listing:

Prepare and update disclosure before marketing

Before Contract:

Provide to buyer as required by sale terms

During Escrow:

Title reviews and requests curative items

Before Closing:

Resolve disputes and confirm signed copies

Post-Closing Archive:

HOA retains executed disclosure records

Key milestones from preparation to archive

Follow a simple milestone sequence to track preparation, execution, delivery, and retention of the disclosure.

01

Preparation

Assemble documents and verify financials.

02

Execution

Authorized signers sign and date the form.

03

Delivery

Send copies to buyer, title, and lender.

04

Retention

Store executed records per retention policy.

Real-world examples of HOA disclosure use and outcomes

Two customer stories illustrate how timely, accurate disclosure supports closings and reduces follow-up work for associations and agents.

Martin Properties (Tim Martin)

Tim Martin used a digital signing workflow to process HOA disclosures quickly during resale transactions.

The faster turnaround eliminated in-person signings.
As a result, his firm reported consistent compliance with document requirements and fewer escrow holdbacks, improving transaction throughput while maintaining secure, auditable records for each closing.

Optica Ventures (Brian Fitzgibbons)

Optica Ventures implemented standardized disclosure templates for community resales to ensure accuracy across properties.

Templates reduced omitted fields and repeat questions.
The association and listing agents saw improved completeness, which minimized title exceptions and cut administrative follow-up before closing.

Common mistakes to avoid when preparing an HOA Disclosure Statement

Omitting pending litigation or special assessments, which can lead to rescission or closing delays and disputes with buyers.
Providing outdated CC&R versions or budgets, causing title exceptions and lender underwriting questions that delay funding.
Failing to include accurate management contact information prevents timely responses from the association and frustrates title or escrow review.
Using inconsistent names or dates on documents that require signature verification, which can force re-execution and slow the transaction.

Risks and potential consequences of inaccurate or late disclosures

Contract Rescission: Buyer cancellation possible

Closing Delays: Escrow holdbacks and underwriting issues

Civil Liability: State consumer protection claims

Title Exceptions: Unresolved disclosures impair marketability

Financial Exposure: Unexpected special assessments

Reputation Risk: Reduced trust among members

Who typically signs and certifies the disclosure

Listing Agent

As the seller's representative, the listing agent coordinates collection and delivery of the disclosure package, communicates buyer inquiries to the HOA, and helps confirm that required attachments are included prior to escrow opening.

HOA Manager

An authorized manager or board officer signs to certify contents; this signer must have authority to attest to financial statements and covenant copies to ensure the buyer and title company accept the disclosure.

eSignature provider comparison: pricing and key features

Common vendor options and feature highlights relevant to executing and storing HOA Disclosure Statements and similar real estate documents.

	signNow	DocuSign	Adobe Sign	PandaDoc	HelloSign
Starting Price	$8/user/mo	$15/user/mo	$14/user/mo	$19/user/mo	$15/user/mo
Free Trial	7-day free trial, no credit card	No	No	Yes, limited	Yes, limited
Bulk Send	Yes	Yes	Yes	Yes	No
Audit Trail	Yes	Yes	Yes	Yes	Yes
HIPAA Compliant	Yes	Yes	Yes	No	No

Frequently asked questions about HOA Disclosure Statements

Answers to common legal, procedural, and technical questions to help agents, HOAs, and buyers avoid delays and compliance missteps.

Need help? Contact support

Can the disclosure be signed electronically?
Yes. Under the ESIGN Act (15 U.S.C. ch. 96) and UETA (where adopted), electronic signatures are generally enforceable for transactional documents. Verify that the transaction is not an exception and obtain consent to electronic records when consumer-facing.
Is notarization required for the disclosure?
Notarization requirements vary by state and sometimes by document type. Many disclosures do not require notarization, but attachments (deeds, affidavits) may. Check local recorder or title instructions and apply state notarization rules where applicable.
Who should sign if the HOA has a management company?
An authorized board officer or an agent with written authority should sign to certify the disclosure. Management companies may execute if documentation shows delegated authority from the board or association.
What if information changes after signing?
If material facts change, provide corrected information in writing and document delivery. Significant omissions or new litigation may require curative disclosure to the buyer and possibly escrow adjustments.
How long should an HOA keep executed disclosures?
Retain signed disclosures per record retention policy; federal standards like IRS rules require 3 years for tax-related records. Industry and state rules may call for longer retention for real estate matters.
Can a buyer cancel for inaccurate disclosure?
Remedies depend on contract terms and state law; buyers may seek rescission, damages, or cure prior to closing. Prompt correction and transparent communication reduce legal exposure.

be ready to get more

Join over 28 million airSlate SignNow users

Sign Now