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Real Estate Community Disclosure

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REAL ESTATE COMMUNITY DISCLOSURE

Parties and Transaction

Seller Name:

Buyer Name:

Transaction Date:

Property Identification

Community Association Information

Managing Agent:

Assessments, Fees and Financial Matters

Is there a current special assessment?

Rules, Restrictions and Use

Covenants, Conditions & Restrictions (CC&R) recorded:

Are rentals permitted?

Pet policy restrictions apply:

Maintenance, Insurance and Common Areas

Association responsible for exterior and common area maintenance:

Legal Matters and Litigation

Is the association currently involved in litigation or dispute that may lead to a special assessment?

Environmental and Hazard Disclosures

To the best of Seller's knowledge, are any community common areas or the property affected by: lead-based paint, asbestos, mold, or other environmental hazards?

Known Material Facts Affecting Property

Encroachments, easements, boundary disputes or flooding history known to Seller:

Seller Certification

Seller represents and certifies under penalty of perjury that the information set forth in this Community Disclosure is true and correct to the best of Seller's actual knowledge as of the date signed below. Seller further acknowledges that this disclosure is provided to Buyer to inform Buyer of community association governance, financial obligations, restrictions and material matters that may affect ownership and use of the property.

Seller agrees to disclose known material changes to the association's financial condition or litigation status that occur between the date of this disclosure and the closing of escrow.

Buyer Acknowledgment

Buyer acknowledges receipt of this Community Disclosure and understands Buyer has the right and opportunity to review the association governing documents, financial statements, meeting minutes and other association materials where applicable. Buyer further acknowledges responsibility to inquire and investigate association obligations that may affect Buyer's decision to purchase.

Buyer and Seller acknowledge that this disclosure does not modify the purchase agreement unless expressly incorporated in writing into the purchase agreement signed by all parties.

Seller Printed Name:

By:

Date:

Buyer Printed Name:

By:

Date:

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What the Real Estate Community Disclosure Is and when it's used

A Real Estate Community Disclosure is a written statement provided by a seller, landlord, homeowners association, or property manager that lists material facts about a property or community that could affect a buyer's or renter's decision. Typical items include neighborhood amenities, known defects or hazards, common-area rules, special assessments, pending litigation affecting the community, and any restrictions imposed by covenants, conditions, and restrictions (CC&Rs). The disclosure complements the purchase contract or lease and is often required by state real estate law or local practice so prospective purchasers or tenants can make informed decisions.

Why a clear, compliant disclosure matters

Accurate community disclosures reduce post-closing disputes, support buyer and tenant due diligence, and help sellers and associations meet statutory or regulatory obligations. A well-prepared disclosure aligns expectations, preserves marketability, and documents the information relied on during negotiations.

Why a clear, compliant disclosure matters

Who typically prepares and receives this disclosure

Parties involved in preparing and reviewing a Real Estate Community Disclosure differ by transaction type and jurisdiction.

  • Sellers and listing agents who provide disclosures as part of a sale package to prospective buyers.
  • Homeowners associations and property managers preparing community-level statements for purchasers or renters.
  • Buyers, renters, lenders, and title companies that review disclosures during due diligence.

Recipients should keep documented copies; preparers must retain evidence of delivery and any signed acknowledgements for the retention period required by applicable law.

Step-by-step: completing and delivering the disclosure

Follow a consistent sequence to reduce errors and establish an auditable delivery record.

  • 01
    1. Gather records: Collect CC&Rs, inspection reports, and HOA minutes.
  • 02
    2. Populate fields: Enter factual items and attach supporting documents.
  • 03
    3. Review and authorize: Have HOA counsel or seller sign off on statements.
  • 04
    4. Deliver and retain: Provide buyer/tenant a copy and keep proof of delivery.

Essential sections every professional disclosure should include

A complete disclosure is modular: cover identity, condition, community governance, financial obligations, legal matters, and acknowledgement of receipt.

Identity

Full legal names for seller, HOA, management company, and preparer with contact information to enable follow-up and verification.

Property and Unit Details

Legal description, address, unit or lot number, and parcel ID to ensure the disclosure ties precisely to the property conveyed.

Physical Condition

Known material defects, hazard disclosures, and recent inspection summaries that materially affect habitability or value.

Governance and Rules

Summary of CC&Rs, bylaws, rental restrictions, pet policies, and where full governing documents may be examined.

Financial Obligations

Current dues, special assessments, pending budget changes, and any unpaid association liens or fines.

Legal and Litigation

Active lawsuits involving the association or property, notices of noncompliance, and pending environmental or zoning actions.

Security, privacy, and accessibility considerations

Encryption: AES-256 at rest
Transport Security: TLS 1.2/1.3
Audit Trail: Timestamps and IP logging
HIPAA Support: BAA available
Accessibility: WCAG 2.0 AA
Certifications: SOC 2 Type II

Legal risks and common consequences of an incorrect disclosure

Contract Rescission: Buyer may rescind under state law
Monetary Damages: Claims for repair or remediation
Title Issues: Undisclosed liens affect closing
Regulatory Fines: HOA statutory penalties
Insurance Gaps: Coverage denial for nondisclosure
Reputational Harm: Listing credibility reduced

Common preparation errors to avoid

  • Omitting material facts such as known structural damage or unresolved environmental issues can create exposure and post-closing disputes.
  • Providing inconsistent property identifiers (different parcel numbers or unit labels) that complicate title searches and lender reviews.
  • Failing to attach or reference governing documents (CC&Rs, budgets) where the disclosure indicates they exist increases legal risk.
  • Using vague language like 'may have' or 'possible issues' instead of precise descriptions and dates undermines the disclosure's usefulness.

Typical delivery and review workflow for a disclosure

An auditable workflow ensures the disclosure reaches all required recipients and that delivery is documented for retention and compliance.

  • Prepare package: Compile disclosure and exhibits into a single file.
  • Place signature fields: Add signers, initials, and date fields as required.
  • Send to recipients: Distribute to buyer, agent, lender, and title company.
  • Capture evidence: Retain signed copy and delivery audit trail.

Digital workflow settings to consider when e‑submitting

Configure authentication, field validation, and routing to match legal requirements and the transaction's risk profile.

Field Configuration
Signer Authentication Email + optional SMS or KBA
Conditional Fields Show attachments only when a box is checked
Audit Trail Enable IP, timestamp, and action logging
Document Versioning Lock earlier versions after final signature

Technical delivery options and integration considerations

Choose delivery channels and integrations that preserve evidence of signature and support long-term storage.

  • Email Delivery: Simple distribution and built-in record of recipient delivery and opens.
  • Signing Link / Bulk Send: Useful for high-volume distributions to multiple recipients with identical disclosures.
  • API / CRM Integration: Automate population of party data from systems like Salesforce or NetSuite.

Ensure the chosen platform supports required authentication, audit trails, and export formats (PDF/A or PDF with embedded audit) for retention and possible regulatory review.

Key timing and delivery expectations

Some states impose explicit timing for when disclosures must be delivered; in all cases, prompt delivery helps avoid remedies for late or absent disclosures.

At Listing or Offer:

Deliver disclosure when listing or before acceptance per local custom.

Before Closing:

Provide final disclosure at or prior to closing as required by many jurisdictions.

Upon Lease Execution:

Deliver tenant disclosures before or at lease signing.

Amendments:

Issue updated disclosures promptly if new material facts arise.

Retention Start:

Retention period begins on delivery or execution, depending on statute.

Milestones from preparation to post-closing retention

A sequential milestone view clarifies responsibilities from initial draft through retention and possibility of future claims.

01

Draft and Verify

Prepare disclosure and verify facts against records and inspections.

02

Obtain Approvals

Secure sign-off from seller, HOA representatives, or counsel as appropriate.

03

Deliver to Recipients

Send to buyer, tenant, lender, and title company with signed acknowledgement when required.

04

Archive with Audit

Store signed document and audit log for the full retention period.

Representative eSignature plan and capability comparison

Below is a concise comparison of starting price and a small set of capabilities for popular eSignature vendors; signNow appears first per page conventions.

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 Yes, 7-day free trial Varies by vendor Varies by vendor Varies by vendor Varies by vendor
Bulk Send Available (Business Premium) Available Available Available Varies
Audit Trail Yes Yes Yes Yes Yes
Envelope Cap No cap 100 envelopes/user/year limit Varies by plan Varies by plan Varies by plan

Frequently asked questions about Real Estate Community Disclosures

Answers to common questions address timing, electronic signatures, notary needs, and what to do when facts change after delivery.


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