Question for the experts..

Send a polite note in the mail.

Riversider, thanks so much for your reply.. I'm just concerned someone may feel like we are harassing them in some way? I would never think that if i received such a letter, I guess i am paranoid, what could they do to me besides gossip, right?

I think paranoia is just being paranoid. :)

If I heard directly, or indirectly, that somebody was interested in buying my apartment because it had more space and more light (or because they wanted to combine it with their own) I would:

(1) be thrilled if I wanted to sell (and flattered, as well) ..... OR
(2) be flattered if I wanted to keep it (and delighted, as well)

Nothing to lose, everything to gain. Put the (complimentary) word out, and have fun with it.

Good luck to you!

Tell them how much you love the building and want to make it a home. And then after sending it do not follow up.

Okay, I'll get killed for saying this but if there's a broker who does a lot of sales in your building (and many buildings seem to have those) I would let the broker know of your interest.

Dear Etrade. I really like those shares of sprint. If any become available, I'd like to buy some more at $2.40/ shares. Xoxoxo

$4.31? Wtf is your problem?

At $4.31 still the cheapest trade out there! Nyr re. Not so much.

"Okay, I'll get killed for saying this but if there's a broker who does a lot of sales in your building (and many buildings seem to have those) I would let the broker know of your interest."

To what end?

Many times people thinking of selling go to the broker specialist in their building to get a feel for the market. And that broker may \have contacts and feelers out in the building at all times.

I suggest discussing it with a board member or board president in addition to your discussion already with the super. Rather than a "buiding specialist broker". In fact, I would say, sorry ph41, that telling the broker is a bad idea as the broker's interests with that piece of information won't necessarily align with yours and the sellers.

Post a note in a common area (laundry room, mail room) - I am interested in purchasing...please contact me, your neighbor in apt?

Broker specialists, board members, chat with neighbors, letter to neighbors, note in laundry room--any of those approaches can work.

But bear in mind that desirable lines in nice buildings are rare commodities. They don't tend to turn over very often (because people like living in them) and the brokers who work the building, if they're good, have already gotten word out to owners that they are sitting on particularly valued lines.

As a result, it's tough for residents of a building to simultaneously trade up AND get a bargain -- let alone avoid a competitive sale process, whether or not a broker is involved.

Your best bet is to make friends with people whose apartments you might like, and try to get them to offer you a right of first refusal when the time comes.

Ali r.
DG Neary Realty

Broker specialists, board members, chat with neighbors, letter to neighbors, note in laundry room--any of those approaches can work.

But bear in mind that desirable lines in nice buildings are rare commodities. They don't tend to turn over very often (because people like living in them) and the brokers who work the building, if they're good, have already gotten word out to owners that they are sitting on particularly valued lines.

As a result, it's tough for residents of a building to simultaneously trade up AND get a bargain -- let alone avoid a competitive sale process, whether or not a broker is involved.

Your best bet is to make friends with people whose apartments you might like, and try to get them to offer you a right of first refusal when the time comes.

Ali r.
DG Neary Realty

Here's what I think of all the suggestions.

>> Riversider: Send a polite note in the mail.
Sounds like a good idea.

>> Riversider: Tell them how much you love the building and want to make it a home.
Weird & uncomfortable, better to keep it simple & to the point.

>> Ph41: If there's a broker who does a lot of sales in your building (and many buildings seem to have those) I would let the broker know of your interest.
Seems like a bad idea that can backfire in so many ways. Won't have broad reach. But then again, broker will probably just send a letter to every apt matching your criteria anyway. So see Riversider's suggestion.

>> huntersburg: I suggest discussing it with a board member or board president in addition to your discussion already with the super.
Seems like a fine idea, little downside. The board may or may not have advance information.

>> apt55: Post a note in a common area (laundry room, mail room) - I am interested in purchasing...please contact me, your neighbor in apt?
An fine idea, but seems a little more invasive than sending letters to me. With a letter, I can throw it out if I don't care. With a posted note, I gotta see that every day.

>> front_porch: Your best bet is to make friends with people whose apartments you might like, and try to get them to offer you a right of first refusal when the time comes.
Downright creepy. "Hi, Sue. I'm your neighbor. Here's a bundt cake. Let's be friends. Wanna sell me your apt?" A fascinating perspective into social mores of front_porch.

Here's what I think of all the suggestions.

>> Riversider: Send a polite note in the mail.
Sounds like a good idea.

You think that is a good idea? Who is the note being sent to? The OP was clear that a specific apartment and specific owner was not identified.

>> huntersburg: I suggest discussing it with a board member or board president in addition to your discussion already with the super.
Seems like a fine idea, little downside. The board may or may not have advance information.

Smart sellers preview their listing with a board member. Since you've discounted, as did I before you, talking to the building broker, my idea of talking to board members in addition to the super is the best idea here. Not just a "fine idea" with "little downside".

cmist, my neighbor slipped a hand written note under my door. I was surprised but appreciative of her interest. I will call her first when it's time to sell.

huntersburg, are you really that dense?

You figure out the lines you are interested in. You write a form letter. You print put a bunch of copies. You put them in envelopes. You change the apt number on each envelope. Or slip a note under every door if you prefer.

That way, every owner is directly made aware before they even get serious about selling. Not just the "smart sellers" who preview their every thought with board members.

If it were me, I'd just hire a real estate agent by the hour and have him march back and forth in front of the building wearing a sandwich board, letting your intentions be known. Do that for a week or two. That would be by far the most cost-effective solution.

Great idea.

cmist, go with the consensus: a form letter to the owners of the lines you like. Just address them to "Resident, #x" and mail.

Buyer's brokers do the the same thing all the time. I get one or two every time a two-bedroom goes to contract in my building. "My client lost out. If you're thinking of selling...."

I'd never remember which broker, but would remember which other owner sent it.

Careful, NWT. The 'burg is gonna throw a hissy fit on you for not calling his idea the best.

NWT is:
simply the best.
Better than all the rest...

hissy fit?

I really appreciate all of your responses very much! I think I am going to go with the idea of writing a form letter to the lines (apartments) that I am interested in, i don't feel comfortable slipping it under doors, however, i will mail it via post. One more question for you guys...
- How do i address the envelope, since I do not know most names of the people in the apartments? Example; *Resident Apt 8c* ?

NWT
about 3 hours ago
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Member since: Sep 2008
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cmist, go with the consensus: a form letter to the owners of the lines you like. Just address them to "Resident, #x" and mail.

Buyer's brokers do the the same thing all the time. I get one or two every time a two-bedroom goes to contract in my building. "My client lost out. If you're thinking of selling...."

I'd never remember which broker, but would remember which other owner sent it.

Great, a direct mail campaign in your own building. Shit where you eat, very thoughtful.

Why is it "shit where you eat"?

It's better than receiving a BS letter from a broker.

Ask your doorman and he will give you the owners' names.

Yes, Nada, I grew up in a flyover state, where I was taught to make friends with all my neighbors. Even in my current building -- where people keep pretty much to themselves -- it's fairly easy to borrow someone's blender, have someone over for a glass of wine, or get introduced to a friend that someone thinks you might like. {I'm thinking of three different things that have happened in the past few weeks}. Those are indeed my social mores. I feel slightly sorry for you if that seems "creepy" to you.

how does getting a cup of sugar translate to getting a right of first refusal?

How dare you, ali!
Being nice to your neighbors.

and thats the truth!

the trUth!

>how does getting a cup of sugar translate to getting a right of first refusal?

It doesn't. But being friendly with neighbors inevitably leads to more open discussions including potentially mentioning interest for some long date in the future about interest in their property. Not a right of first refusal but an invitation to a dialog.

In any case, it's better than creating an impersonal direct mail campaign in your own building.

when i had my apt on the market a neighbor showed interest, sending me 2 emails. But she failed to follow up so i sold through a broker. Otherwise i would have been more than happy to do business with her...

FP, nice song-and-dance. Washed over the whole thing, I'm sure. Especially with that jab at the end.

Here's what you said:

"Your best bet is to make friends with people whose apartments you might like, and try to get them to offer you a right of first refusal when the time comes."

You advised this person to make friends with specific people whose apartments they are interested in, for the specific purpose of trying to get them to offer a right of first refusal.

Do you understand the difference between that and becoming friends with all your neighbors for the purpose of simply being friendly?

Or does the distinction "flyover" your head?

Own up to what you said, explain it or expand upon it, modify what you meant by it, change your opinion, or just say nothing more. But bullshit your way around it? Hint: people don't actually believe a bullshitter, they only question the bullshitter's intelligence for thinking the bullshit would pass anyone's muster.

inododo seems very vested on this topic for someone who isn't looking to even buy a first apartment: Ranking all the suggestions. Attacking people and their ideas. Defending himself and his rankings. Making moral judgments. Offering his philosophy on bullshit.
Is he upset that he didn't buy Sprint like he was told to by w67? Is he upset that he's not in the Mediterranean?

Just send a nice note on a card (Smythson Of Bond Street has a fancy non-form letter collection of blank note cards).
Ask the doorman for the names. Write them on the fancy envelope, address, place card inside, stamp and mail.
Not to the entire building just to the apts you would be interested in.

Maybe you get contacted when the owner wants to sell.

If they have big Sprint, you may have to wait to hear back from them until after they return from spending their gains.

I wouldn't find & write names, just use "Resident". You don't want people wondering "How the hell did this person get my name?"

Yeah, make it look like an exterminator notice from the management company, definitely use "Resident".

Or "Neighbor".

I would not go through a broker at all for this.

Go to a board meeting and tell them you would like the opportunity to purchase another/different unit should one come available. If you want to write a note that is okay too. Just let the potential seller know to come to you first prior to listening openly.

The seller can avoid a broker's fee and the process can be a lot smoother. On a $1,000,000.00 apartment the ability to save $60,000 may be a big deal to the seller. In addition, your currently approved in the building and the coop board already knows about you.

broker: can funtion as both a noun and a verb, much like the word "bullshlt"--the words are intechangable:

As in: "I 'brokered/bullshited' my way around the misrepresentation." mix and match!

Of course you would not use a broker, and you should get a note to those in your building who own in lines you are interested in. Absolutely nothing improper about that, whether by mail bulletin board or other means. If they are even close to selling, they would be foolish not to respond to you. You are pre-cleared by your board as a current resident in good standing, and you have a specific interest in their apt, such that comps are not so relevant to you. Were I on the brink of selling, or even not, I would be very happy to hear from you.

Exclusives with brokers usually include a 2-4 week grace period in which a seller can sell direct to a buyer they have found on their owm, and save the absurd 6% key sherpa fee. Most communicate within their buildings in effort to find someone basically pre-sold and pre-vetted. So what you describe in commonly accomodated by "brokers".

in=is

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