6.64.120 Required disclosures.
In addition to the disclosures required by other sections of this resolution, the developer shall make available the following information to tenants, and prospective purchasers, and the building department at least seven days before any purchase commitment is signed, or, in the case of tenants with the written notice provided by SCC 6.64.040:
(1) Copies of all documents filed pursuant to the Horizontal Property Regimes Act, chapter 64.32 RCW, or the Condominium Act, chapter 64.34 RCW;
(2) An itemization of the specific repairs and improvements made to the entire building during the six months immediately preceding the offer of sale;
(3) An itemization of the repairs and improvements to be completed before close of sale;
(4) A statement of the services and expenses which are being paid for by the developer but which will in the future be terminated, or transferred to the purchaser or owners’ association;
(5) An accurate estimate of the useful life of the building’s major components and mechanical systems (foundation, exterior walls, exterior wall coverings other than paint or similar protective coating, exterior stairs, floors and floor supports, carpeting in common areas, roof cover, chimneys, plumbing system, heating system, water heating appliances, mechanical ventilation system, and elevator equipment); for each system and component whose expected life cannot be accurately estimated, the developer shall provide a detailed description of its present condition and an explanation of why no estimate is possible; and
(6) An itemized statement in budget form of the estimated monthly costs of owning the condominium apartment that the purchaser intends to buy. The itemization shall include but shall not be limited to:
(a) Payments on purchase loan;
(b) Taxes;
(c) Insurance;
(d) Utilities (which shall be listed individually);
(e) Homeowner’s assessments;
(f) The projected monthly assessment needed for replacing building components and systems whose life expectancy is less than five years; and
(g) A statement of the budget assumptions concerning occupancy and inflation factors. (Amended by Res. 79-339, Nov. 13, 1979).