We are under contract, but the listing agent did not disclose the Working Capital Fee in the HOA Disclosure. The cost is $851. Can we hold them responsible? This is one of several mis-represented or negligent disclosures throughout the homebuying process (Roof and water heater were listed as 10 years newer than they actually were, and the house had undisclosed polybutylene pipes). We're already past inspection, appraisal, etc and 2 weeks from closing.
Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
6y
That would be included in the HOA documents. Each state is a little different but you typically received the HOA documents and have a few days to review them and have the ability to cancel based on review of those documents if you dont like what you see.
Real Estate Professional · West Palm Beach, FL · Member since 2012 · 23k+ posts · 13k+ votes
6y
Your contract should address your timeline after receiving Proper disclosure. Proper disclosure may, or may not, require revealing that item specifically, it may be up to you to investigate after being given the proper contact/association info.....it varies.