So, you’ve finally found the perfect co-op apartment and you’re ready to secure a mortgage to make it yours. But now you’ve hit a roadblock: your bank is asking for a co-op questionnaire to be filled out, and you’re left with a few worrisome questions. Does this mean the bank hasn’t approved things yet? Why […]
Getting a good deal on a new New York City condo unit often involves savvy negotiation for concessions rather than haggling over the base price. That’s because developers are much more comfortable providing ‘off-deed’ concessions to buyers, since they don’t affect the publicly-recorded price-per-square-foot of the apartment or future resale values. So, how can you […]
First, the bad news: receiving that mortgage commitment letter does not mean that you’ve definitively secured the loan for your New York City property. In fact, you should often think of it as a first step. That’s because there are often key contingencies in place (as you’ll see in the sample below) that must be […]
