A Public Offering Statement (POS) is a document provided to buyers of a new condominium by the builder. The document contains details about how the condominium is structured and managed, including its CC&Rs. It also contains important disclosures about budgets, insurance, construction and rules for the condo.
Local real estate laws dictate the content and deadlines for receiving a POS. Given the lengthy legal documents involved, it often makes sense to seek professional advice when reviewing a public offering statement.