Tweet
Quick question, is it still standard practice to request a REBNY financial statement from prospective buyers for a condop? I understand that it's 100% standard for co-op listing agents to ask for this, and even some condo listing agents will request a basic financial statement (albeit sometimes on the standard submit offer form as opposed to the REBNY statement).
-
-
Yes absolutely. It's interesting you have that experience with condos. From what I've seen, listing agents for condos, condops and coops all ask for the REBNY Financial Statement. It's quite standard and expected, even when you're not buying a coop.
I suppose this is one different aspect of buying property in NYC vs buying in the suburbs like Westchester NY.
The only time you might get away with not providing a REBNY Financial Statement when buying real property like houses or condos in NYC is if you're purchasing all cash. But even then you'd be expected to show proof of funds that are well in excess of the purchase price.
However, even then, believe it or not, I've seen listing agents demand to see the REBNY Financial Statement anyway. This was for an all cash offer that would close within 30 days. This old school listing agent lady in Murray Hill still demanded to see it even though the client was focused on privacy and hesitant. The buyer ended up filling out the form and giving it to the listing agent anyway, we simply wanted to move the deal along!
Comment