Here’s a fact that might surprise you: A co-op board can turn down a buyer for any lawfulreason. And because the reason need not be divulged, this means that in practice, unlawfulreasons (race, religion, profession, sexual orientation, nationality, etc.) may also prompt arejection. (Note: If you buy an apartment directly from the sponsor, you will […]
In a co-op, shareholders elect a volunteer co-op board which–except in some very small buildings that choose to save money by self-managing–works with a property management company to oversee the care and maintenance of the building. The board also creates and enforces rules about everything from renovation inside units, to what’s allowed to transpire on […]
A condominium budget will determine a condo apartment’s monthly common charges It’s critical to analyze a condo budget before signing a purchase contract in NYC. Many first time home buyers rely exclusively on their lawyers to scrutinize the condo budget as part of the lawyer’s legal and financial due diligence. However, since you’ll be the […]
