When must the disclosure of the Public Offering Statement occur?

The correct choice is based on the requirement that the disclosure of the Public Offering Statement must occur before the buyer enters into a purchase contract. This timing is crucial because it ensures that prospective buyers have access to important information about the property or development prior to making a commitment.

The Public Offering Statement typically includes details regarding the property, financial obligations, and other relevant information that could significantly influence a buyer's decision. By providing this disclosure ahead of the contract signing, buyers are given the opportunity to review the necessary information, conduct due diligence, and make informed decisions, thereby fostering transparency in real estate transactions.

In contrast, disclosing the Public Offering Statement after the purchase contract has been signed would not allow the buyer to consider the implications of that information before making their commitments. Waiting until closing or only providing the statement when requested by the buyer would similarly fail to meet the intent of ensuring that buyers are well-informed prior to making a legally binding decision.