he told me to come in today to sign the contract if everything is ok. what questions should i ask him and what things should tell me to put in the contract? thx in advance.
btw..this is for a 2 br coop apt.
2007-05-09 02:55:27 · 4 answers · asked by seafood10 3 in Business & Finance ➔ Renting & Real Estate
I'm a buyer.
2007-05-09 07:27:32 · update #1
It's a co-op, so there are some things that would concern me more than a detached home.
Mainly, the"co-op board" is a concern. I'd want five days after the Seller provides the board's documents to review the documents, and allow the Buyer to back out if they are a problem.
The problem is with a co-op, you don't OWN the real estate. You are buying a share of the building, and as a shareholder you have the right to lease a particular unit. I'd want to know just how much the board will protect you from noisy neighbors, or how they increase the budget for common charges, how the board is elected, and how much of a nuisance they can be to you by deciding after a year that you have to get rid of your dog or cat. I'd also recommend you use that time to meet the people that run the board, and make an honest assessment of whether or not they seem like the kind that get mad with power, and consider the owners serfs in their own private fiefdom.
Co-op boards are supposed to protect values for owners, but sometimes they do just the opposite, by making residents miserable. This is something you need to look into very carefully.
2007-05-09 03:18:45 · answer #1 · answered by open4one 7 · 0⤊ 0⤋
Go in your phone book and discover legal professional referral offerings. When you name don't provide an explanation for difficulty simply that you want a truly property legal professional. Then name the state board and ask if they have got any lawsuits on that precise legal professional. They will probably be ready to support you. Your HOA has an legal professional on employees so please be conscious of what's mentioned to you,any letters,cellphone calls,communications,and many others. Write down all instances,dates,folks you spoke with and many others. Then if the time comes to visit courtroom you've that forms to exhibit your facet of the tale. Depending at the problems that the HOA has, they are able to placed a lien in your dwelling. You as a house owner are allowed to wait any assembly besides those which can be personal and simplest the HOA committee has to wait. It will probably be a bumpy experience however you'll be able to have the results you desire so long as you've written evidence to again you up. Try to maintain the conversation open.
2016-09-05 12:58:56 · answer #2 · answered by ? 4 · 0⤊ 0⤋
You have to be more specific on what is in the contract?
Is it for estate planning?
Are you buying a house?
2007-05-09 03:07:58 · answer #3 · answered by Gwynn T 3 · 0⤊ 0⤋
Are you the buyer or seller? Let me know and I can help you.
2007-05-09 03:19:41 · answer #4 · answered by DANIEL D 2 · 0⤊ 0⤋