HOA Resale Package

Sellers in HOA communities in North Carolina must provide buyers with two categories of disclosure: the standard Residential Property and Owner’s Association Disclosure Statement (RPOADS), which includes HOA-specific questions, and a separate HOA resale disclosure package that comes from the association itself. Under NC General Statute 47F (planned communities) and NC General Statute 47C (condominiums), the resale package must include the current budget, HOA rules, governing documents, and statements about pending assessments and litigation. The buyer has five days after receiving this package to cancel the contract for any reason.