What is your fee? Do you negotiate your fee? Why is it so much? These are common questions among new residents in NYC and even some well-weathered NY'ers. In their defense, I do not know anywhere else
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The maintenance fees for a co-op are higher, but keep in mind that
includes heat, water, taxes and the maintenance of the building. For a
condo it does not include taxes and some condos you pay for your own
heat as well.... more
Hi Kim,
A buyer negotiates with the seller usually through their broker and a listing broker. A buyer does not negotiate with a coop board. Any negotiating with a coop board would have to be through the seller/shareholder.
There are some coops that will allow a lower down payment from what is stated in the listing data. Most coops require a minimum 20% down and allow a maximum of 80% financing. However some coops will allow 90% financing for very qualified high income buyers. They may also allow a shareholder already living in the building that is upgrading or combining apartments. The apartment combination may require extensive renovations. The coop may prefer the purchaser to have a larger mortgage leaving them more liquid so they will have more or enough cash to complete the work.
Even if they do allow a lower down payment ( maximum 90% financing) under certain circumstances that is not a guarantee that they will approve the purchase.
Best,
Mitchell Hall, Associate Broker
The Corcoran Group
917-312-0924
MHALL@corcoran.com... more
By ANNIE KARNI It’s the best rent deal in New York City: a SoHo one-bedroom that goes for the price of a porterhouse steak. Thomas Lombardi, whose family moved to Manhattan from Italy in the 1940s,
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Posted by Ryan Serhant and Nick Jabbour New York, New York. The home of the million dollar studio apartment, the staid and sometimes curious Park Avenue co-ops, and the wealthiest geographical triangulation
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Check out this article that was just published in the New York Times:Published: February 10, 2012 WHEN the real estate market was booming in 2007, renters showed up at apartments with checkbook in hand,
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Having trouble deciding what apartment type is best suited for you? Check out some helpful details......Apartment Types in NYC Which Type of Manhattan Apartment Is Right for Me? Brownstone Condos Co-ops
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HotPads.com, the national housing search engine, published quite an insightful statistic about how the prices of real estate changed in 2011. Their data showed that the rental price of 2-bedroom units
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Top 10 NYC neighborhoods for real estate investment Far West Chelsea, Manhattan The High Line is for real. Over $2 billion in real estate investment for real. The internationally acclaimed landscape marvel
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New York is now the #1 ranked destination for global property investment. Currently Chinese investors are a driver but depending on time period, New York has always had strong demand from foreign property
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The Manhattan residential rental market has defied seasonal expectations by remaining remarkably stable even as winter approaches, according to a monthly rental market report from Citi Habitats released
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Buyer's Checklist -Ready to buy in Manhattan? Know the answers to these questions before you contact a buyer's broker!Jolie Muss Licensed Real Estate Broker The Upper West Side’s Buyer’s Broker
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Hello Ayn, here is an excellent article from the Wall St. Journal which I believe will help answer your question;
http://online.wsj.com/article/SB10001424052970203764804577060502694077494.html... more
We’ve all heard about what a good time this is to buy a home, provided you have cash. Now the Wall Street Journal reports that, in many cities, it is actually cheaper to buy a home than to rent. "Home
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HDFC Coops -Affordable Home Ownership in Manhattan Q: What is an HDFC coop? A: HDFC (Housing Development & Finance Corporation) Coops are a liittle known niche market in New York City Real Estate
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