broker - who is also a owner and the treasure
Started by bolt
almost 14 years ago
Posts: 0
Member since: Aug 2011
Discussion about
Hello everyone, I have a question would like your advice, thanks very much in advance. I recently find two sister co-op buildings that I am very interested in. But I have a big concern in mind and wonder if you could give us any advice? The buildings' sales are handled by a broker, who is also a owner for units in both buildings and who is also the treasure for both buildings' boards. Could you please give us any advice? Thanks a lot!! bolt
What exactly is your concern? Your attorney will go through everything for you. I own my coop, I"m the treasurer, some day i'll have to sell....you can also get a broker (and you should) to assist you.
I agree. You should also get your own representation. Real estate agents can serve on their co-op boards. When they do so, they almost always excuse themselves from sitting on the admissions committee. When they submit any package to the board in which they are involved, again - they generally should (and do) take themselves out of the process with the board. On a good note, the treasurer will likely know what the board is looking for with regards to your finances (what the board wants to see in order for you to pass the board). That can be something that works in your favor. You, however, will have to do the rest in winning them over, so to speak, should you get to the interview stage.
Brad Malow
www.BuyingNYC.com
Helping buyers and sellers navigate the complexities of NYC's real estate market.