Which statement is true regarding homeowners association disclosure requirements?

The statement that the buyer cannot waive the right to void the contract if disclosures are not provided is accurate. This is rooted in consumer protection laws that are designed to ensure transparency in real estate transactions. Homeowners associations (HOAs) are required to provide buyers with a disclosure summary, which outlines the rules, regulations, and financial obligations associated with the property. If these disclosures are not supplied, the buyer is given the right to void the contract, thereby safeguarding their interests and ensuring they are fully informed before committing to the purchase.

This requirement is in place because the absence of such disclosures could lead to unexpected liabilities or restrictions that might significantly impact the buyer’s ownership experience. By acknowledging that the buyer cannot waive this right, the law places a strong emphasis on the importance of informing potential homeowners about such critical aspects of property ownership.