Your board doesn't have first right of refusal *or* approve sales?

Could you let me know which building this is? I'd love to buy an apartment in your building, live maintenance free, and then sell the apartment a few years down the track.

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We do not have right of first refusal and we don't approve sales and we dont approve renters. And have no rental restrictions.

We do sue folks, go for garnishments, file liens etc. Once we got a judgement to take the furniture and car of a unit owner. His wife quickly paid up.

If a buyer is paying cash and not getting title insurance it can be transferred with liens attached. We had folks do it.

On a side note is it unusual my condo in NY does not have a right of first refusal and we dont approve buyers or renters? We also do not have the ability to fine people. Not in our by-laws. We do go after non-payers full throttle and we only have 3 percent arrears and those 3 percent all have liens and judgements in place.

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I've never heard of a condo without right of first refusal - would be interesting to know just how uncommon it is.

Obviously it's rarely exercised since the association rarely has much of a reason, nor the spare cash, to make a purchase, but it's a useful fallback in extreme cases. What would be your current course of action if a parolee murderer / pedophile took a liking to one of the apartments in the building?

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We don't approve sales so I would never know who is buying into building. Usually we get a request from an owner or a realtor for outstanding maint a few days before closing. Our condo lawyer does not attend closing.

I had someone move in who was actually wanted by Police, we also have no rules on smoking, pets, etc. Two chain smokers, with two pit bulls out on Parole for Murder can buy in building. I have no clue who buyers are.

The building has been very nice for many years. But it seems the last three years we are getting a lot of smokers, folks with large dogs, folks buying to rent units, folks buying in LLCs you name it as we are one of last condo buildings around that operates as a true condo. Not a quasi coop.

One other concern we have is so far no one owns more than 10% of units. But with no approving buyers we could end up with a owner who owns more than 10% of units and lose fannie eligibility and put us at greater risk if that owner defaults.

My condo is from all the way back in the 1970s. When condos were almost unknown. Everything was coops. As such the offering plan was barebones.

Condo act had many changes in the 1980s-1990s and offering plans included such stuff.

Our condo had very little turnover for many many years. Up till 1999 we had most of original owners from 1979. When prices took off folks started cashing out in the 2003-2008 bubble, we had original owners start dying off, then in 2009-2013 real estate crash. We had folks who over leveraged themselves start losing units.

My condo unheard of today. Owners are responsible for own windows, exterior doors, balconys and Heat and Water. Lucky for us we are not a high rise. And guess what do a renovation of your unit. No approval needed. As long as you dont touch condo elements or attempt to poke a hole in the exterior walls.

Some new buyers are confused when they call managing agent and say they have no heat, AC does not work, water heater is leaking, paint on their exterior door and window is pealing or balcony needs work. And managing agent tells them they are not responsible and neither is condo association. Some folks skim offering plan. And it is fairly unusual.

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