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This document serves to disclose information about the owners' association associated with a property that is part of a development or condominium in North Carolina. It details the responsibilities,
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How to fill out owners association disclosu1e and

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How to fill out OWNERS' ASSOCIATION DISCLOSU1E AND ADDENDUM

01
Obtain the OWNERS' ASSOCIATION DISCLOSURE AND ADDENDUM form from your local real estate office or online.
02
Read through the entire document carefully to understand the information required.
03
Fill in the property details such as the address, owner names, and any relevant dates.
04
Provide information regarding the owners' association, including its name, contact information, and any governing documents.
05
Disclose any fees associated with the owners' association, such as monthly dues or special assessments.
06
Include information on the association's rules, restrictions, and guidelines that potential buyers should be aware of.
07
Review the completed document for accuracy and completeness.
08
Sign and date the form where required.

Who needs OWNERS' ASSOCIATION DISCLOSU1E AND ADDENDUM?

01
Anyone looking to sell or purchase a property that is part of a homeowners' association.
02
Real estate agents involved in transactions concerning properties governed by an owners' association.
03
Buyers who need to understand the implications of living under an owners' association.
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The OWNERS' ASSOCIATION DISCLOSURE AND ADDENDUM is a document that provides detailed information about the rules, regulations, and financial status of a homeowners' association (HOA) or condo association that governs a property.
Typically, the seller of a property that is part of a homeowners' association is required to file the OWNERS' ASSOCIATION DISCLOSURE AND ADDENDUM to inform potential buyers about the association's rules and financial obligations.
To fill out the OWNERS' ASSOCIATION DISCLOSURE AND ADDENDUM, provide accurate and comprehensive information regarding the association, including its governing documents, fees, assessments, and other necessary disclosures that pertain to the property owner and association.
The purpose of the OWNERS' ASSOCIATION DISCLOSURE AND ADDENDUM is to ensure transparency for prospective buyers regarding the governance and financial health of the homeowners' association, allowing them to make informed purchasing decisions.
Information that must be reported includes the association's rules, fees, budgeting, pending lawsuits, special assessments, and any existing violations or financial obligations related to the property.
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