Let's say you've made an offer on a townhome with an HOA in Henderson and the contract has been finalized. A few days later, your agent sends you a bundle of dozens of pages in PDF format, which is the resale package.

Most people just flip through the cover pages and sign, but this bundle contains almost all the costs you will incur over the next few years. Today, we'll go through the order of numbers you should check when you receive this document.

First, you need to keep track of the time. According to Nevada law NRS 116.4109, buyers can cancel the contract with written notice by midnight of the fifth calendar day from the date they receive the resale package.

This cancellation comes without a penalty, and any money paid up to that point must be promptly refunded. However, this right disappears once the closing is completed.

It's important to note that this is based on calendar days, not business days. If you receive it on a Friday evening, the weekend counts as part of the period, so be sure to note the date you received it.

The first number to check is the monthly management fee. The package includes a certificate issued by the association, which lists the monthly common expense assessment and any outstanding amounts owed by the current owner.

There's a unique pitfall in Henderson. Large master-planned communities like Green Valley Ranch, Anthem, and Inspirada often have a two-tier structure with a master association and a sub-association.

It's common for listings to only show one management fee, so some people only realize there are two associations after opening the package. Make sure to check if there are separate certificates for each association and combine the two amounts to recalculate your monthly budget.

The second item is the outstanding payment history. The law requires that all outstanding amounts owed by the seller, including management fees, transfer fees, fines, interest, collection costs, and attorney fees, be listed.

The good news is that there are buyer protections in place. According to the same provision, buyers are not responsible for any outstanding management fees that exceed the amounts listed in the association certificate.

So, it's advisable to compare this number with the seller's deductions on the closing statement. If the numbers don't match, you should ask escrow right away.

The third item is the transfer fees and various transaction fees. The package should include a separate document listing the transfer fees and transaction fees related to the resale.

Who pays these fees depends on the contract, so it's helpful to lay out the items from the package alongside the cost-sharing provisions in the contract.

The fourth item, which I spend the most time reviewing, is the reserve fund summary. The package should include the current operating budget and financial statements from the beginning of the year to the present, along with the reserve fund summary.

Nevada associations are required to conduct a reserve study at least once every five years. They must also review the results annually and adjust their funding plans accordingly.

This study includes a list of major common facilities with a remaining lifespan of less than 30 years, along with estimates of the remaining lifespan and replacement costs for each item. This includes roofs, road paving, pools, and exterior painting.

Additionally, it should include estimates of the annual assessments needed after deducting the current reserves and the funding plan. This last number essentially signals whether management fees will increase in the future.

For example, if the community's road paving replacement is three years away and the reserves fall significantly short of the needed amount, that gap is likely to be filled by an increase in management fees or special assessments.

If the summary alone doesn't give you a clear picture, ask for the full report. Buyers are legally entitled to request and copy the entire reserve study from the association.

The fifth item is the status of any lawsuits. If there are unresolved judgments or ongoing lawsuits against the association, they must be noted in the package.

If there are significant cases, such as construction defect lawsuits, it could impact loan approvals, so it's safer to share this information with your lender in advance.

The sixth item is proof of insurance. With the passage of AB 396 in 2025, proof of insurance that the association is required to maintain has been added to the essential items in the package.

If you're buying a townhome or condo, the extent of the association's insurance coverage will affect the scope of personal insurance you need, so be sure to pass this information along to your insurance agent.

Finally, you should also skim through the rules book. Whether there are rental restrictions or prohibitions on short-term rentals can completely change your plans if you intend to turn it into an investment later.

For reference, the association must provide the documents within 10 days of receiving a written request from the seller, and the package is valid for 90 days. The fee for preparing the association certificate is capped at a basic $185 by law, with inflation adjustments allowed, and if you want it sooner than three business days, a rush fee of up to $100 may apply.

Additionally, some areas in Henderson may have special improvement district fees that are separate from the HOA and may not appear in the package. It's best to verify this through city or county property tax records.

In summary, you should check the total monthly management fee, outstanding amounts, fees, reserve fund shortfalls, lawsuits, and insurance in that order. Five days can feel surprisingly short, so I would personally open the reserve fund summary on the first day after receiving it.

The numbers in this document can significantly influence your actual holding costs, just as much as the home price. If anything is unclear, be sure to ask the association manager or agent in writing within the timeframe.