Let’s face it; the thought of applying for a mortgage these days makes a lot of people want to curl up into a ball and hide. Mortgages involve a lot of paperwork, a lot of questions, and, often, a lot of anxiety for a would-be buyer. So, let’s pull back the curtain and make this […]
There are lots of on-line tools that make calculating your monthly mortgage payment simple and easy these days, and one of my personal favorites is the mortgage calculator on the Corcoran website. You’ll find the calculator on Corcoran’s advice page for buyers. Scroll part way down the page and you’ll see the mortgage calculator icon. Click […]
Once a co-op board has reviewed a board package, if all looks good, they will usually request to schedule a “board interview” in which the perspective buyer meets with all or a few members of the board. This is generally a formality, and most candidates who are granted an interview receive notice of approval within a few days […]
Whether you’re buying a co-op or condo, chances are there will be a few hoops for a perspective buyer to jump through in order to gain purchase approval from the co-op or condo board. A co-op board has the right to turn down any perspective buyer without giving a specific reason (although the reasoning is supposed […]
Ok. You want to buy property in New York City; you’re mostly interested in co-op buildings (they’re generally less expensive than condos, after all); but you’re financial situation isn’t ideal for passing a co-op board’s stringent rules. Is there any hope? Yes! Enter, the sponsor unit. (Queue bright white lights and angelic music now.) A […]