well new York has a very special situation - a lot of places are coop and there is no thing wrong about it. building sponsored unit is also OK as that means no board approval. Living ratio is OK and that happened to my apartment as well - it just means the sponsor do not want to sell the shit. it is correct that the living ratio will largely limit the ban you can choose. in this case you can only use sterling bank. this happened to me. the interest rate is a bit higher... . in a market with very limited inventory..... it is normal.... The contract is the only thing you should worry if the terms are crazy - if the lawyer said so and you really want to buy. you should find another lawyer in Chinatown to review it.
coop is cheaper. but harder to sell. if you do want to buy, PM me. I am not realtor, but my friend can definitely help you. you will most likely to lose your deposit if you sign the contract. the reasonable contract is to return the deposit if the mortgage is not approved.
n*1
35 楼
律师的建议当然要听了
w*1
36 楼
this is correct. the only show stopper here is the contract especially the provision with respect to the mortgage walkaway. Other issues are annoying but fixable, and that is why you may find the price so reasonable. In new York coops are not necessarily hard to sell although all foreigners bring all cash to buy condos (who cannot buy coops coz they do not live) . there are always people like you who want to buy and Live in affordable places.
not lose return
【在 r********0 的大作中提到】 : coop is cheaper. but harder to sell. if you do want to buy, PM me. I am not : realtor, but my friend can definitely help you. you will most likely to lose : your deposit if you sign the contract. the reasonable contract is to return : the deposit if the mortgage is not approved.
No Brain, what's so rush? If you are that rich, give me the money. As a man, be a man to deal with the situation, control the situation but not be controlled by others.
Never think there wouldn't be any problem with mortgage. There could always be some problem. If your lawyer is advising against signing it, then it's better not to sign it. If anything, counter the offer with all those points covered with clauses that's fair..