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What is a REBNY financial statement? REBNY Financial Statement Fillable PDF Example Template: REBNY Financial Statement Fillable Excel. Sample REBNY Financial Statement for NYC Hauseit Medium - What is a REBNY financial statement and where can I find help and instructions for completing a REBNY financial statement? Where can I see an example of a. Rebny financial statement, rebny financial statement form, rebny financial. Gea Elika's Blog - How to Prepare a REBNY Financial Statement - How to...

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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.

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What is a REBNY financial statement? A REBNY financial statement is used by listing agents and sellers to evaluate and compare the financial strength of potential buyers. The REBNY statement itself is a personal ‘balance sheet’ or statement of net worth. It asks a potential buyer to provide information about his or her assets (including cash, stocks, and property), liabilities (including mortgages and student loans) as well as monthly income (such as salary, bonuses and dividends) and projected monthly expenses. Given the strict financial requirements imposed by NYC co-ops during the board application process, REBNY financial statements are most often used when dealing with the purchase and sale of co-op apartments. How do I complete a REBNY financial statement? If you are buying a co-op in NYC, you will need to complete a REBNY financial statement. We suggest that you prepare the statement early in your search so that when the time comes to submit an offer you don’t lose out to faster bidders who have already prepared their offer documentation. By working with an experienced buyer’s agent, you can request a buyer broker commission rebate and receive professional advice and guidance in preparing your offer documentation, negotiating and completing your board package. If I am selling, how do I review a buyer’s REBNY financial statement? As a co-op FSBO seller in NYC, you’ll want to be extra careful in reviewing the REBNY financial statements of prospective buyers. The last thing you want is to sign a contract with a buyer who does not meet the co-op building’s financial requirements. When reviewing a REBNY financial statement, be sure to check the prospective buyer’s monthly debt to income ratio and liquid net worth. Many co-ops have specific targets for post-closing liquidity and the percentage of housing expense relative to income.