When should a public offering statement be delivered?

The delivery of a public offering statement at the time when the first written offer or payment is made is crucial for transparency and compliance with legal requirements in real estate transactions, particularly in the context of condominiums or planned communities. This statement provides potential buyers with essential information about the property, including details on financial obligations, rules, and regulations pertaining to the property, which allows them to make informed decisions.

Delivering this information when the first written offer or payment is submitted ensures that potential buyers have all necessary disclosures before committing financially, thus protecting their rights and interests. It creates an opportunity for buyers to review the information carefully and ask questions prior to finalizing the purchase agreement, which is a key element of consumer protection in real estate transactions.

In contrast, providing the statement at the signing of the contract or after the sale would not give buyers adequate time for review or consideration, while delivering it solely upon request does not ensure all potential buyers receive the necessary information proactively.