From the archives: The disclosure dance
Buyers now asked to show their money at the start
The days of dropping by a Sunday open house on a whim may be numbered. Sellers, frustrated by lowball offers and by buyers who are “just looking,” want to make sure they’re dealing with serious apartment-hunters. As a result, more and more potential buyers are being asked to provide detailed financial information — from their employer and salary to their debt ratio and savings — before they’re even allowed a peep at an apartment for sale. Read the full story from the September 2009 issue here.