Question: Can a realtor request a copy of the association HOA budget? One of the properties in our Association went through all the foreclosure proceedings and the bank is now the owner. A realtor who is representing the bank has asked for a copy of the current association budget. When I asked why, she said she needed it to facilitate a sale. Is this correct? Are we obligated to give a copy of our homeowners’ budget to this realtor or should we ask for communication from the bank? — Patti B
Answer: Association members are entitled to inspect the association’s books and records which include the association’s operating budget. However, the bank here owns the unit and not the realtor. An association budget contains highly sensitive information including the amount of bad debt. Your reluctance to share this information, particularly when doing so could impact the resale value of your units is understandable. A bank employee with the proper authority needs to request this information, not the bank’s realtor.