Home Buying in New York>Question Details

Green Apple, Other/Just Looking in New York, NY

Can a Condo association reject a buyer?

Asked by Green Apple, New York, NY Sat May 5, 2007

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YES, a condo association can reject a buyer if the bylaws give them the power (read the article link below). It requires a 2/3 vote of the owners. But I have not run up against one in NYC. Otherwise Mitchell is correct in the Board has a Right of First Refusal which is rarely exercised.
1 vote Thank Flag Link Sat Jun 2, 2007
In NYC condos have the right of first refusal. They can reject a buyer by not issuing a waiver of first right of refusal. They must buy the condo for the same price as the potential buyer. It is rare but can happen.
1 vote Thank Flag Link Sun May 13, 2007
Mitchell Hall, Real Estate Pro in New York, NY
Technically, no. Condo boards have the "right of first refusal" which means that they have the option to buy the apartment for the same price the buyer offered. It's safe to say that this rarely if ever happens.
0 votes Thank Flag Link Wed Jan 28, 2009
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