This Week's Q & A

Q: I’m buying a condominium in New Hampshire and the owner, who is selling the unit on his own, without a broker) has ignored my repeated requests to review some of the basic condo documents. What should I do?

A: What you should not do is purchase this unit without reviewing (or, preferably, having your attorney review) the relevant documents: the master deed, the rules and regulations, and the budget. That’s the only way you’ll know the condominiums is organized properly, is on sound financial footing, and won’t prohibit your from doing anything you planned to do in the unit – leasing it to a tenant, painting the front door purple, sharing it with your St. Bernard and your collection of exotic pet snakes.

In New Hampshire, condominium owners aren’t required to offer you any information voluntarily, but if you request essential information (on the budget, insurance, capital improvements, reserves, etc.), state law requires the owner to provide it. You might mention that requirement to the reluctant owner with whom you are dealing.

The New Hampshire requirements are even more stringent for newly-constructed or newly-converted condominiums. Developers are required to give buyers a public offering statement containing detailed information about the condominium, along with a copy of a certificate of registration from the state attorney general’s office, confirming that the condominium has met all state requirements.