FACTS:

The Buyer and Seller executed the HOA Condominium/Planned Community Addendum (“HOA Addendum”). Buyer was provided the required information with respect to the operation of the homeowners’ association (“HOA”). The information was provided ten (10) days after the contract was accepted, which was also the last day of the inspection period.

ISSUE:

May Buyer still cancel the transaction if he is unhappy with some of the information provided by the HOA?

ANSWER:

Yes.

DISCUSSION:

By way of the HOA Addendum, “BUYER IS ALLOWED FIVE (5) DAYS AFTER RECEIPT OF THE INFORMATION FROM . . .HOMEOWNER’S ASSOCIATION TO PROVIDE WRITTEN NOTICE TO SELLER OF ANY ITEMS DISAPPROVED.” Accordingly, Buyer may cancel based on information provided from the HOA even after the inspection period expires provided the cancellation is within five (5) days of receipt of the information from the HOA.