How much to disclose when selling my unit

[maggiej]

What is the name of your state?Washington state
I am thinking about selling my unit next year. I am a board member and at meetings we are discussing repairs 2 to 5 years down the road. If there are no special assesments passed by the board for 2006 budget, am I required to share that information when I sell? Could my buyer come after me with a lawsuit for not doing so when there is an assesment? Thanks Maggie

[CAlandlords]

Originally Posted by maggiej

What is the name of your state?Washington state
I am thinking about selling my unit next year. I am a board member and at meetings we are discussing repairs 2 to 5 years down the road. If there are no special assesments passed by the board for 2006 budget, am I required to share that information when I sell? Could my buyer come after me with a lawsuit for not doing so when there is an assesment? Thanks Maggie

So there is no plan for a special assesment and you're wondering if the buyer can come after you if there is one later?

Wouldn't any plans the board is discussing be in the minutes? If so, then it's disclosed.

[HomeGuru]

Originally Posted by maggiej

What is the name of your state?Washington state
I am thinking about selling my unit next year. I am a board member and at meetings we are discussing repairs 2 to 5 years down the road. If there are no special assesments passed by the board for 2006 budget, am I required to share that information when I sell? Could my buyer come after me with a lawsuit for not doing so when there is an assesment? Thanks Maggie

**A: you disclose what you know and also the reserve study and/or sommary.