What information must a seller provide to a buyer if the subject house has Homeowner Association Membership requirements?

The requirement for a seller to disclose specific information about Homeowner Association (HOA) membership is guided by the need for transparency regarding the financial obligations involved in living in a community governed by an HOA. Annual dues are a critical consideration for prospective buyers, as these fees can impact their overall housing costs and budgeting.

When a seller informs a buyer about the annual dues, it enables the buyer to make an informed decision regarding their ability to afford not only the mortgage payment but also the ongoing costs associated with the HOA. This is essential for the buyer to understand their financial commitment to the community’s services, maintenance, and rules.

While neighborhood rules are important, they don't present a direct financial obligation, which is why annual dues take precedence in this context. Property tax information is separate from HOA requirements and does not relate to the governance of the community. Insurance policy details may be relevant to the buyer but are likewise distinct from HOA membership specifics. Thus, conveying information about the annual dues appropriately addresses the buyer's need to understand financial commitments involved in the property's HOA membership.