What is the Rebny Financial Statement?
You must know what the Rebny Financial Statement is and how to complete it, if you sell or buy an apartment is the New York. This statement may be used by the sellers or listing agents for evaluating and comparing the financial strength of the buyers. It is a sort of the balance sheet. The potential purchaser will provide the information about the assets, monthly income and expenses, and liabilities.
What is the Rebny Financial Statement for?
The Rebny Financial Statement is applied in case of the sale or purchase of the co-op apartments. All listing agents of the New York co-ops will ask the purchaser to fill out this statement as it is a part of the whole offer submission procedure. In NYC, the co-op board rejections frequently take place. To avoid the rejection, make sure you have prepared the completed Rebny Financial Statement.
When is the Rebny Financial Statement Due?
This statement does not have any due date. It must be dated by the applicant and it is the only date that must be indicated in the document.
Is the Rebny Financial Statement Accompanied by Other Forms?
Generally, this balance sheet must be filed separately. Other documents may be required by the listing agent, if some misunderstandings arise.
What Information do I Include in the Rebny Financial Statement?
First of all, you must write the name, address and the date when it will be signed. After that, you must provide the whole information about your assets and liabilities. It must include the following:
- Cash in banks;
- Investments;
- Contract deposits;
- Life insurance;
- Retirement funds;
- Accounts and notes receivable;
- Total assets;
- Mortgages;
- Unpaid income taxes;
- Debts;
Moreover, you must provide the information about the sources of income, monthly expenses, contingent liabilities and general information. The statement includes three schedules. The first one is devoted to the stocks and bonds, the second one is the Schedule of Real Estate, and the last one is called the Schedule of Notes Payable.
Where do I Send the Rebny Financial Statement?
Once the statement is fully completed, send it to the listing agent.
