New York City
Northern New Jersey
Search Better With
Shop for a Broker
Open House Planner
Saved Listings & Folders
Stats and Figures
Manhattan Condo Market Index
What are your thoughts on buying a condo sponosor unit that was being rented? What are the main things to consider when looking over the property? Do sponsors typically "touch up" or repaint the unit prior to occupancy?
Is it a new development? If so, treat it like another unsold unit in the building. It should have new coat of paint, like new floors and appliances. If it's not a new development, you can always ask to repaint, etc and see what they say.
if it was being rented, that means that it could not sell. are you going into an undesirable neighborhood or an overpriced building? on the other hand, there is a high chance that all of the issues that people see within 2 yrs of the new construction have been fixed.
Well received on all point...brand new unit.