J.A. from New York, New York writes:
Dear Mister Condo,
I’m selling my condo apartment in NYC & want to know where do I obtain a copy of my building financials. If directly from the building management company, will they give them to me or will they charge a fee for them? What/How is it commonly done? Also, can I use the offering plan I have when I bought my apartment or do I have to get an updated Offering Plan, please let me know. Thanks!
Mister Condo replies:
J.A., good luck selling your condo. A realtor could best advise you on the Offering Plan. My guess is that a new Offering Plan is needed any time the unit is sold but the realtor may give you different advice. As for the association’s financial records, that is a different story. The management company is likely your best bet and they will certainly charge you a fee for the service as they are entitled to bill when reports are prepared for unit owners according to their agreement with the association. I have seen some fees as low as $25 and some as high as $500! I hope yours are reasonable for what you are asking. Good luck with your sale and best wishes on your new home.