How easy is it to get info on a coop's finances?

Ask the listing broker for a copy of the co-op financials. It is not difficult to get, just ask. Any educated buyer will want to know the "corporation" they are buying into. Your real estate attorney will need to review anyway before going to contract. Its standard operating procedure along with review co-op board meeting minutes etc.

Industry standard is to trade buyer's financial information (income, assets, liabilities as outlined on the REBNY financial form) for property information (latest two years of financials for the co-op).

You can often get the nub of this information quicker by releasing a sketch of your info to the listing broker ("I make $XX, and I have $YY liquid, so I'm a qualified buyer"). More likely you'll get a sketch back ("building has a $1mm underlying mortgage, maintenance increase was 4% last year, they're talking about redoing the hallways.")

I will say -- and I know I'm going to get flamed for this -- I don't think I've ever closed a transaction with someone who requested a building's complete financials before showing their own hand and making an offer. Buyers who are that cautious are putting the cart before the horse, and they don't, in my experience, tend to have follow-through.

ali r.
DG Neary Realty

Thanks front_porch.
I agree with your statement.