A.S. from Fairfield County, Connecticut writes:
Dear Mister Condo,
Mister Condo replies:
A.S., most condominium associations have a stipulation that whenever a unit within the association is sold, the association has the right to step in and purchase the unit at the proposed selling price. This is useful so that unit values are not unnecessarily deflated by a unit sale that is below fair market value. Unless the Board has specifically assigned the right of first refusal to the management company (many do as the right is rarely exercised), it is the right of the condominium association as managed by the Board. All the best!