Brokers Weekly
TitleVest creates order out of offering plan chaos
Manhattan-based TitleVest, a provider of title insurance and related real estate services, announced the BETA launch of the first digital library of thousands of New York cooperative and condominium offering plans.
The new service offers a centralized source for obtaining and viewing co-op and condo offering plans.
Each plan is keyword-searchable, enabling the person reviewing the plan to instantly search for any phrase or topic, without laboriously searching through hundreds of document pages.
Also known as a prospectus, an offering plan is the document issued by a sponsor for the purpose of either converting an existing building to cooperative or condominium ownership or developing a new building. Its purpose is to provide full disclosure of all relevant data associated with evaluating an investment in the property.
"Our new offering plan service creates order out of chaos, It eliminates the painstaking search for a complete copy of the plan and amendments, and the keyword search functionality can streamline the review process" said Bill Baron, president of TitleVest.
Of course, our digital library also eliminates the need to transport and store a huge stack of documents for every transaction."
TitieVest's offering plan library is an expansion of its Coop/Condo Due Diligence Service™ which provides attorneys with transcripts of the minutes of the Board of Director's meetings.