What is a primary purpose of the offering plan in a condominium?

The primary purpose of the offering plan in a condominium is to specify unit details and communal areas. This document is essential as it provides potential buyers with critical information about what they are purchasing. It typically includes detailed descriptions of each unit, including square footage, layout, and unique features, as well as descriptions of shared or communal areas such as hallways, recreation facilities, and common grounds.

The offering plan serves as an official declaration of the condominium's structure and operations, ensuring that buyers understand exactly what is included in their purchase and what shared responsibilities they will have with other unit owners. It helps establish transparency in the transaction process, allowing prospective buyers to make informed decisions about their investment.

In contrast, a marketing brochure is not comprehensive enough to fulfill the legal and informational requirements that the offering plan is designed to meet. While management responsibilities are important, they are typically part of the broader governance documents and not the primary focus of the offering plan. Similarly, establishing selling prices falls under the financial aspects of marketing and transaction rather than being a detailed purpose of the offering plan itself.