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I’m selling a condo, what do I need from the board?

Often a condo board will retain a “right of first refusal,” which means they have the right to buy your apartment before you sell it to an outsider. (For a neat column about possible legal entanglements, click this Stroock link.) In order to get the board to release your apartment, there may be a form you have to fill out stating that you have an agreement to sell it for $XXX,000, and do you have their permission to sell it?

Most of the time this is a rubber-stamp procedure, but like everything else, it can take a while, so ask right after you’ve got a signed contract.

Posted in For Sellers 5 years, 6 months ago at 9:08 am.

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