When a prospective buyer or lessee is interested in a unit, what is the developer required to do?

When a prospective buyer or lessee shows interest in a unit, the developer is mandated to provide copies of legal documents. This requirement is essential as it ensures that the buyer or lessee is fully informed about the terms and conditions tied to the ownership or leasing of the unit. Legal documents typically include the declaration of covenants, conditions, and restrictions (CC&Rs), bylaws, financial statements, and any pertinent disclosures.

Providing these documents not only establishes transparency but also helps in protecting the rights and interests of the buyer or lessee by allowing them to understand the obligations, restrictions, and potential risks associated with the property. This step is crucial in the real estate transaction process, enabling consumers to make educated decisions based on the comprehensive information provided by the developer.