Definition
HOA documents include bylaws, rules, financial records, and meeting minutes. They tell you how the HOA operates, what rules apply, and whether it's financially healthy. Review them before buying.
Where you’ll meet it
Is this association healthy, or a special assessment waiting to happen?
See it in Buying a condo or townhome · Step 2About this term
Documents include: bylaws, rules, CC&Rs, financial statements, budgets, meeting minutes, reserve studies. Lenders require review. Buyers must accept HOA before closing. Documents reveal financial health. Special assessments documented. Rules enforcement described. Liability issues identified. Professional review recommended. Substantial documents to review. Understanding documents essential. Impacts property value and lifestyle. Poor financials risk property value.
Pro Tip
Review HOA documents completely. Special assessments significantly impact your costs.
Example
HOA documents revealed pending special assessment of $5,000 per unit.