The Right of First Refusal is a privilege that is rarely exercised by condo boards primarilybecause it is exceedingly difficult to raise funds either through a special assessment or a loanto be able to purchase a multi-million dollar condo in NYC. Furthermore, even if it werepossible to raise the funds, there would likely be severe […]
Condo board approval typically takes around 4 weeks from the time you submit a completedboard package. Most condos typically have between 20 to 30 days to waive their right of firstrefusal and approve your purchase. Here’s where it gets interesting: while a condo cannot reject you outright without buying theapartment, they can delay issuance of […]
Virtually all condo buildings charge buyers an application fee between $300 to $1,000.Buildings usually ask for a move-in fee and/or a move-in deposit as well as a move-out feeand/or a move-out deposit from the seller. The typical move-in or move-out fee is ~$500,while the average deposit is between $500 to $2,000. Unfortunately, there is steep […]
