Form 2A12-T is North Carolina’s Owners’ Association Disclosure and Condominium Resale Statement Addendum, and completing it means working through five numbered items about the association that governs the property, then signing the bottom alongside the buyer so the addendum attaches to the Offer to Purchase and Contract (Form 2-T).{1North Carolina Association of REALTORS. Standard Form 2A12-T – Owners Association Disclosure and Condominium Resale Statement Addendum} The form was jointly approved by the North Carolina Bar Association and the NC Association of REALTORS, and the seller fills it out so the buyer sees exactly what the association charges, what it covers, and whether any financial or legal problem is on the horizon.
Where To Get the Blank Form
Form 2A12-T is distributed through the NC Association of REALTORS and is pre-loaded in the transaction management software licensed agents use. If you have a listing agent or buyer’s agent, they will provide the blank form with the rest of the contract paperwork. It is not a form a seller completes alone and mails anywhere; it is filled in during the offer-and-contract phase, usually with an agent walking through it.
Item 1: Association Names, Dues, and Contact Information
Identify every owners’ association that governs the property. Some communities have more than one, with a master association over the whole development and a sub-association for a specific neighborhood or building. For each, fill in three things: the association’s legal name, the dollar amount and frequency of regular dues, and the name, address, and phone number of either the association president or the management company representative.{1North Carolina Association of REALTORS. Standard Form 2A12-T – Owners Association Disclosure and Condominium Resale Statement Addendum} A line for the association’s website is included if one exists.
Pull the exact legal name from the declaration of covenants or a recent assessment invoice rather than writing it from memory. Use the current dues figure. If a rate increase has been approved but has not yet taken effect, note the upcoming change in Item 3. Where a blank does not apply, write “N/A” rather than leaving it empty.
For contact information, list the management company representative when a third-party company runs daily operations rather than a volunteer board member. The buyer’s side will use this contact to request governing documents and verify financial standing, so it needs to be someone who actually responds.
Item 2: What the Dues Cover
Item 2 is a checklist of more than 20 services and amenities. Mark everything the regular dues cover. Categories include master and common-area insurance plus taxes on common areas; exterior building, yard, parking, common-area, and private road maintenance; utilities and services such as water, sewer, cable, internet, street lights, trash removal, pest treatment, and stormwater management; management company fees and legal or accounting costs; and gate or security services, with a write-in line for recreational amenities like pools or fitness centers.{1North Carolina Association of REALTORS. Standard Form 2A12-T – Owners Association Disclosure and Condominium Resale Statement Addendum} A catch-all “Other” line is there to describe anything the printed options miss.
Item 3: Additional Dues, Fees, and Special Assessments
Item 3 opens with a representation that, as of the date of signing, there are no other dues, fees, or special assessments beyond what Item 1 disclosed, except what the seller writes in the blanks that follow.{1North Carolina Association of REALTORS. Standard Form 2A12-T – Owners Association Disclosure and Condominium Resale Statement Addendum} Special assessments, pending dues increases, working capital contributions, and any other financial obligations belong on these lines.
Read the form’s wording carefully: it covers assessments that are “Confirmed or Proposed.” You cannot wait for a formal vote. If the board has been discussing a roof replacement at meetings or circulating proposals for owner feedback, it belongs in Item 3. Leaving it off because “nothing is approved yet” is the exact omission that fuels post-closing disputes.
For each item, include the purpose, the total amount or estimated range, and the payment schedule. If you are not sure what is pending, contact the association manager and ask for written confirmation of any planned or proposed levies before you complete the line. A buyer who finds out about a $5,000 assessment after closing, when the seller knew, has grounds for a claim.
Item 4: Judgments and Lawsuits
Item 4 mirrors Item 3. The seller represents that there are no unsatisfied judgments against, or pending lawsuits involving, the property, the development, or the association, except what is written in the blanks.{1North Carolina Association of REALTORS. Standard Form 2A12-T – Owners Association Disclosure and Condominium Resale Statement Addendum} Construction defect claims, disputes with developers, personal injury suits from common-area accidents, and collection actions against delinquent owners all fit here. A short description of the nature of the claim is enough on the form itself; the buyer’s attorney can pursue specifics during due diligence.
Item 5: Transfer Fees
List every fee the association or management company charges when the property changes hands. These can include document preparation fees, move-in or move-out fees, preparation of insurance documents, a statement of unpaid assessments, and general transfer fees.{1North Carolina Association of REALTORS. Standard Form 2A12-T – Owners Association Disclosure and Condominium Resale Statement Addendum}
Under the North Carolina Planned Community Act, an association can charge up to $200 for a statement of unpaid assessments, plus an additional expedite fee of up to $100 when the request comes in within 48 hours of closing.{2North Carolina General Assembly. North Carolina Code 47F-3-118 – Association Records} Other transfer fees vary widely by community. Some associations charge nothing; others bundle document preparation and move-in fees into a package that runs a few hundred dollars. Call or email the management company for the current fee schedule and itemize each charge on the form so the closing attorney has the numbers for the settlement statement and the parties can negotiate who pays what.
Signing and Attaching the Addendum
Both the buyer and seller sign and date the bottom of Form 2A12-T. By signing, each party confirms they have read and accepted the addendum as part of the contract.{1North Carolina Association of REALTORS. Standard Form 2A12-T – Owners Association Disclosure and Condominium Resale Statement Addendum} The completed addendum attaches to the Offer to Purchase and Contract (Form 2-T) and becomes a binding part of the agreement.{3North Carolina Association of REALTORS. Offer to Purchase and Contract}
Agents usually handle delivery through e-signature platforms, with the addendum presented alongside the main offer so the buyer sees everything at once. If association details were not available when the offer was drafted and the addendum goes out separately, the buyer should receive it before the due diligence deadline so there is still time to investigate.
Mistakes To Avoid
The most common error is leaving Item 3 blank when a special assessment is under discussion but has not been formally approved. The “Confirmed or Proposed” language exists to catch exactly that situation. When in doubt, disclose it and describe it as proposed. Over-disclosing carries no risk; under-disclosing can turn into a post-closing dispute.
Outdated dues amounts are another frequent problem. Associations adjust fees, sometimes annually, and a seller relying on memory or a two-year-old statement may put down the wrong number. Pull the current amount from a recent invoice or confirm it with the management company before writing it in.
Sellers also skip Item 5, either because they do not know the transfer fees or assume the buyer’s agent will track them down. The form expects the seller to fill it in. A five-minute call or email to the management company asking for a complete list of fees associated with a sale prevents delays later when the closing attorney is preparing the settlement statement.
What Buyers Do With the Disclosure
The standard North Carolina Offer to Purchase includes a due diligence period, typically two to four weeks, during which the buyer investigates the property with limited financial risk.{4NCREC Bulletins. Due Diligence Fees: When Are They Refunded?} Form 2A12-T is the seller’s representation, not an independent audit, so buyers use the window to verify it. That usually means requesting the association’s current budget, the most recent reserve study, and the last twelve months of board meeting minutes, and asking the association’s attorney for a summary of any litigation disclosed in Item 4.
A buyer who terminates during due diligence forfeits the due diligence fee but gets back the earnest money deposit.{4NCREC Bulletins. Due Diligence Fees: When Are They Refunded?} For a seller completing Form 2A12-T, the practical consequence is simple: an accurate, specific, up-to-date disclosure keeps the deal on track; vague or incomplete answers invite a termination the day before closing.