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 […]
It can be tough out there for buyers in NYC’s current super competitive market. Low inventory and high demand mean plenty of sales are going into multiple bid situations, causing a lot of would-be buyers to feel a little hopeless. Don’t worry. There IS a way. And, contrary to popular belief, it’s not always the […]
Thinking about moving to a new NYC neighborhood, but don’t know which one is right for you? Even if you’re working with a great real estate broker, you’ll need to be prepared to research crime statistics, schools, etc. on your own. Fair housing laws prevent brokers from suggesting specific neighborhoods to perspective buyers. So, if […]