copy of the budget for my condo?
Started by modemmex
almost 13 years ago
Posts: 0
Member since: Feb 2012
Discussion about
I bought a condo last June. The bldg is brand new but there have been some issues with the ventilation system. All unit owners are required suddenly to pay an additional sum to build the reserves back up because of legal fees related to the ventilation problem and other sponsor-related issues. I can't get more specifics out of the board members and I am told that the budget is not a "public document." Can I request a copy of the budget in writing? Am I entitled to see this? I want to know where the reserves have gone and how we got to this place of have low cash flow.
Yes, you are entitled to see it. When you refinance, the mortgage companies require this info, so they should make it available to you
Yes you are. When you refi a condo or coop, the mortgage company requests the budget, so they should make it available to you.