You Can't Be Serious: When Managing Agents Clam Up...
Access to current information about a building, is essential to making an informed purchase. When a managing agent of a co-op or condo refuses to answer questions, the buyer is placed in a precarious position...
13 March 2016, 6:36 pm
14 minutes 7 seconds
Welcome To Sponsor World: What Developers Don't Want You To Know
Buying an apartment in a building in New York City yet to be constructed, presents a unique set of concerns and challenges. Make sure you understand what you are getting yourself into...
28 February 2016, 3:02 pm
8 minutes 53 seconds
Dude Didn't Do Due Dilly
Rushing to sign a contract for a co-op or condo and not completing due diligence can have serious consequences...
14 February 2016, 2:11 pm
6 minutes 7 seconds
Rules of Reason: Always Include a Funding Contingency
Obtaining a loan is not as easy as it used to be. A bank can change its mind about making the loan even after the commitment letter is issued. The "funding contingency" is a useful contract tool to protect the borrower from disaster
12 February 2016, 4:10 pm
4 minutes 30 seconds
Avoiding Closing Chaos
The most difficult part of a co-op or condo transaction can be getting the parties to agree on a closing date. Here's how to avoid conflict and have smiling faces at the closing table.
9 February 2016, 9:54 pm
3 minutes 52 seconds
Unfinished Business: The Elusive Letter of Completion
When an architect fails to obtain a letter of completion when a renovation is finished, an owner can be in for difficulties and delays when it's time to sell the apartment...
8 February 2016, 2:47 pm
8 minutes 29 seconds
The Annoying Loan Document
Time to de-mystify the hype about the "Pre-Approval Letter". Although it may be love at first sight between the borrower and bank, a co-op or condo may not get the same reaction from a lender...