Say you are buying in a building right now.

Say this building sits on a block among the 40% in this city with a block number requiring a Cycle 7 report be filed by 2/28/12.

Say this building hasn't filed anything yet.

What does your lawyer do in this situation?
a) Note it and let you decide?
b) Tell you not to close unless the managing agent explains? I bet you they won't explain.

What does your broker do? Try to paper it over?

Has your lawyer read the board minutes? If there is an issue, a good board will be forthcoming in the minutes.

A smart Board writes absolutely nothing in the minutes.

Meeting was convened at 702p.
The Trustees discussed the ongoing doberman situation in apartment 12B.
The Trustees noted comments about the scaffolding from Mr. Grease, the managing agent.
Meeting was adjourned at 737p.

Hmm. I'm a board president. Not the way the minutes for our board meetings work. If you can't proceed on that basis then you're SOL.