Home Buying in Brooklyn>Question Details

slick14life, Home Buyer in Brooklyn, NY

Anyone on here know how i could find out the financial status of a condo Association w/o asking the Realtor?

Asked by slick14life, Brooklyn, NY Fri Sep 21, 2012

Because they keep giving excuses on reasons i wouldnt get it. Stating that only owners get those docs. I live in brooklyn ny

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3
Once you are in contract such information can be provided to your attorney, for his/her review. You also should consider working with an agent....
0 votes Thank Flag Link Fri Sep 21, 2012
If they wait until your in contract, then is it still possible to back out if you dont
like what you see in the paper work
Flag Fri Sep 21, 2012
Condominium boards are hesitant to hand out that sort of information "willy-nilly" (that's right... i said "willy-nilly".)

Depending on the board, and/or the management company, they will often reserve that information for owners, and buyers who have a ratified contract. So it's very possible that what you're calling an "excuse" may very well, simply be the truth.

Good luck.
0 votes Thank Flag Link Fri Sep 21, 2012
Yes, you typically have a "Contingency period" under which you get to review the documents... that's often about 3 days to review. If you find something you don't like, or don't understand... you can ask for an extension and clarification, or you can back out of the deal with full return of any earnest money. the only "loss" might be if you've conducted an inspection... you won't get that money back.
Flag Fri Sep 21, 2012
If they wait until your in contract, then is it still possible to back out if you dont like what you see in the paper work
Flag Fri Sep 21, 2012
Alan May, Real Estate Pro in Evanston, IL
MVP'08
Contact
Have you considered going to the Residents and talking to them:
Tremendous source of information!
You can also ask them to copy their CCR's so that you can read them.
0 votes Thank Flag Link Fri Sep 21, 2012
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