What is a REBNY Financial Statement?

What is a REBNY Financial Statement?

A REBNY financial statement is used by sellers in New York City to evaluate the financial strength of buyers. Buyers should be prepared to complete a financial statement and submit it with their offers.

Click here to view a REBNY financial statement.

Why Do You Need a REBNY Financial Statement?

Anyone buying or selling a co-op or condo in NYC should understand the value of a REBNY financial statement and how to fill it out/analyze it. As a buyer, you will be asked to submit this statement for all co-op purchases and all financed condo purchases. If you are buying a condo or house all-cash, then the seller’s agent may only require you show proof of funds.

In NYC real estate transactions, sellers must consider whether their buyers are board passable. The standards to pass a co-op board are generally much higher than to get approved for a loan. See our blog post on rejection from co-op boards. It is prudent for all sellers to feel confident that the buyer’s profile will meet the co-op board standards in terms of debt-to-income ratio and post-closing liquidity.

What’s in a REBNY Financial Statement?

When you complete a REBNY financial statement, you will show your assets, income, liabilities and expenses. Your assets include your liquid assets and illiquid assets (cash, investments, automobiles, retirement funds, real estate, etc.). Your income includes your salary and bonus, annual gifts, income from real estate, dividends and interest from investments, etc. Your liabilities include student debt, outstanding balances on credit cards that are not paid off every month, mortgages, car loans, etc. Your expenses include your monthly mortgages and maintenance/common charges and taxes, alimony, child support, etc.

How to Prepare an Offer to Buy a NYC Home

When we present offers for buyers, we do our best to present our client in the best possible light. We like to include a brief bio about the purchasers (and why they love the home) to make the offer more personal. We include the purchasers’ attorney info to show they are serious buyers and ready to move forward. We indicate when they would like to close. We include whether the transaction is all cash. If the transaction is being financed, we indicate whether it is contingent and what percent is being financed. In addition to providing the REBNY financial statement, we also lay out the purchasers’ financial situation in an email to show they are well qualified to pass the board approval process.

If you would like more information on how to prepare the best possible offer to be taken seriously by a seller and seller’s broker, feel free to reach out to [email protected] or [email protected].


Digs Realty is a residential real estate brokerage in NYC that provides full service at a discount. The Digs Mission: Saving you money without compromising service. We give our home buyers up to 67% of our commission and charge our sellers up to 4% less than traditional brokerages.

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