What must be provided to a buyer before closing when the property is part of a homeowners association?

When a property is part of a homeowners association (HOA), the governing documents and a disclosure statement are essential to provide to the buyer before closing. The governing documents usually include the association's bylaws, covenants, conditions, and restrictions (CC&Rs), which outline the rights and responsibilities of homeowners within the community.

The disclosure statement is important as it provides relevant information about the HOA's rules, regulations, and any pending assessments or litigation, which could significantly impact the buyer's decision. Having access to this information ensures that the buyer is fully aware of the obligations they will have as a member of the association and helps them make an informed choice about the property.

While the other options might contain some relevant information regarding the HOA, they do not encompass the full scope of essential documentation required by law. Providing just a set of community rules and a credit report does not cover the legal and financial aspects required for a complete understanding. Similarly, only providing certificates of insurance or financial status does not include necessary details regarding governance and responsibilities as described in the governing documents.