What is the primary function of condominium resale disclosure documents?

The primary function of condominium resale disclosure documents is to inform potential buyers about condominium association rules and financials. These documents are designed to give prospective buyers critical information that aids them in making informed decisions regarding their potential investment in a condominium. This includes details on the financial health of the condominium association, such as budgets, assessments, and reserve funds, as well as any rules and regulations that govern the community, such as restrictions on rentals or pet ownership.

Understanding the financial obligations and governance of the condominium is crucial for buyers, as it helps them gauge both the viability of their investment and their compatibility with the community lifestyle. This transparency aims to prevent surprises after the purchase and ensures that buyers are fully aware of what living in the condominium entails.

The other options do not capture the essence of the primary purpose of these documents. While contact information for property managers may be included, it is not the central focus. Disclosing property ownership history is also not a primary concern and may not directly relate to the unique aspects of living in a condominium. Finally, outlining the seller's obligations after the sale is irrelevant to the informative intent of the resale disclosure documents, which prioritize informing prospective buyers rather than dealing with post-sale responsibilities.