QUICK TIP: BUYING A CONDO

When looking to buy a newly formed condominium unit, see if the Sponsor has formed other condominium buildings. The offering plan of the condominium will list other projects the Sponsor has been or is currently involved in. Visit those buildings; see if Purchasers in those building have had problems. Has the Sponsor been sued by the Purchasers of those units? Have complaints been lodged with the New York State Attorney General’s Office? If something is found it could be a one time occurrence or evidence of the workmanship you can expect in a unit you wish to purchase.

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