what are coop boards looking for in an applicant?
Started by breadandroses
over 10 years ago
Posts: 4
Member since: Apr 2015
Discussion about
I have a few offers on my upper west side apartment. I have already moved out so I need to close fast. I have a suitable buyer with excellent finances and they can put 60% down. But they plan a big renovation. Do coop boards turn down applicants because they don't want to deal with renovation hassles? Am I better off picking the offer that isn't as good financially but they don't plan to renovate?
Are you doing FSBO?
My board, and I think boards in general, want buyers to renovate. It increases the value of the building, and there're all kinds of fees to go into the pot. Almost every buyer ends up renovating anyway. The people down the hall are re-doing a reno that was only a few years old, and the board didn't bat an eye.
People who look and act just like them but are willing to bare all , act obsequiously and be eternally grateful for the opportunity to spend hard earned money tha may take years to extract when the owner attempts to sell the unit.
Wow, that was quite the co-op you got yourself into. Tell as about it, since you'll have sold by now anyway.
Exactly why the last place we owned was a condo. Easy in/out!
wow , that's some adventure
Any update?