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April 26, 2007
paying for co-op offering plan?
It seems logical for me to want to see and review the offering plan of a co-op while waiting for the board to decide whether to give me the green light. I'm told I have to pay a small fee ($30) to get the offering plan.
Is this customary and reasonable to pay for a copy of a document? A lawyer thinks I should offer a deposit of $30, to be refunded once we've reviewed the plan and then give it back.
Many thanks in advance for advice.
Comments
The $30 probably pays for the cost of copying it--They are quite long (~300 pages?). Can't the owners that you aer buying from loan your attoeny the OP?
Posted by: Anonymous at April 26, 2007 5:30 PM
You're going to spend hundreds of thousands, if not millions, of dollars on your apartment. I think $30 is probably pennies in the grand scheme of things. But I agree with the above poster. See if they will agree to just a deposit.
Posted by: Alex at April 26, 2007 10:02 PM
if a co-op board wants to charge $30 to review a document that
a) the person selling you the unit should have loaned you in the first place (probably through the broker selling it), and b) that there must be many, many copies of already...i would run. i mean, talk about nickel and diming...
Posted by: Anonymous at April 27, 2007 9:01 AM
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