What can be negotiated when buying a coop?
Started by nikinyc
about 13 years ago
Posts: 17
Member since: May 2011
Discussion about
Hi all, What things can be negotiated other than price when buying a coop? Any suggestions will be appreciated. Thanks!
Sometimes the owner wants to negotiate being able to stay in the apartment for a short while after the sale has been completed. As a buyer, I would not agree to this although others may feel differently. You might have an issue as to minor repairs if something is broken you can negotiate a reduction in the sale price to cover the cost of repair or replacement.
If there are any fixtures ( chandeliers, curtains, blinds, etc. ) that you like you might try to have them included in the sale price.
If there is a an assessment, I seen the seller state they will pay for it.
If there is a flip tax payable by the buyer,you might be able to ask them to pay for part or all of it.
lots of things (other than those stated above)- what date you close (you have rights to close on that date to 30 days after that), under what circumstances can the deal be off (and you get your deposit back like not qualifying for a mortgage, death of one or more buyer), what the consequences are if a representation is false.
storage units also
I thought the flip tax was paid by the seller??