RECOMMENDED IN RENT
RECOMMENDED IN BUY
RECOMMENDED IN SELL
RECOMMENDED IN IMPROVE
closing
What's the difference between getting a mortgage for a co-op and a condo?
… Lenders may require buyers to get a title insurance policy for instance which covers any outstanding liens on … on a percentage of your loan The premium for a mortgage policy insuring a $300000 loan for example would be …
What is title insurance, and why do I need it?
… legal requirement but it may be a closing requirement if a buyer is taking out a mortgage for a unit in New York City … title insurance payment If you have financing in place to buy the apartment your lender also needs title insurance And … again because your new lender needs the same reassurances … What does title insurance cover … The payment covers you if …
A first-time buyer’s guide to tax abatements, transfer taxes, sponsor co-ops, liquid assets, maintenance fees, and more
… New Yorkers proudly state that they live in a city thats like nowhere else in the world And … buy Bennett says If youre in a similar situation below is some key terminology to familiarize yourself with as you … having a deed for your unit as you would in a condo Many NYC buildings were converted from rentals to housing …
What's a financial disclosure statement?
… The REBNY Financial Statement is a form that shows a buyers finances to the sellers listing agent Its what starts … agent to see whether the buyer has the right balance of income and debt to be presented to a coop board The … in An agent needs to know which coop to bring you to Most coops allow a 20 to 25percent debttoincome ratio There are …
A Riverdale two bedroom with closing credits on the table, and no board approval required
… Welcome to Brick Undergrounds sponsor apartment pick of the … the owner of the building You do not need board approval to buy these apartments they are often newly renovated and they … of only 10 percent versus the 20 to 25 percent that most coops demand In exchange for the condolike ease of acquisition …
