Should You Get an Inspection Before Buying a Co-op in NYC: https://www.hauseit.com/should-you-get-an-inspection-before-buying-a-co-op-nyc/
Calculate Your Buyer Closing Costs: https://www.hauseit.com/closing-cost-calculator-for-buyer-nyc/
Having a home inspection before signing a contract on a co-op apartment in NYC is not very common. That’s because co-ops have a board and management whose responsibilities include inspecting and maintaining the common areas of the building, and not much can go wrong inside an apartment assuming it’s reasonably well maintained.
However, a home inspection may be a good idea if you’re buying into a small co-op building, buying an unrenovated apartment or if your unit has a basement or roof deck.
If you’re thinking of buying an apartment, you can estimate your buyer closing costs in NYC using Hauseit’s interactive closing cost calculator available at www.hauseit.com.
You can also save money on your purchase by requesting a Hauseit Buyer Closing Credit.
Are You Buying into a Small Co-op Building?
Buying an apartment in a smaller co-op is generally risker than buying into a larger building. When a small building needs capital upgrades to expensive components such as the roof, boiler, façade or elevators, there are fewer apartment owners who share the bill.
Therefore, hiring a home inspector to assess the overall condition of the building may be a good idea if you’re buying into a building with 10 or fewer units.
The second reason why smaller co-ops are risker is due to the fact that there is a limited budget available to pay a managing agent. Some managing agents in this price range aren’t very good, and they may not conduct routine inspections or follow adequate maintenance procedures.
Is the Apartment in Need of a Total Gut Renovation?
It’s quite common for home buyers to request an inspection in the case of an unrenovated co-op or a unit which is in a wrecked or otherwise totally unmaintained condition. Co-op apartments being sold in this condition are usually a product of an estate sale or other scenario where someone has continuously occupied an apartment for decades while doing little or no maintenance.
Save Money with a Hauseit Buyer Closing Credit: https://www.hauseit.com/hauseit-buyer-closing-credit-nyc/
#hauseit #hauseitnyc
https://www.hauseit.com
Calculate Your Buyer Closing Costs: https://www.hauseit.com/closing-cost-calculator-for-buyer-nyc/
Having a home inspection before signing a contract on a co-op apartment in NYC is not very common. That’s because co-ops have a board and management whose responsibilities include inspecting and maintaining the common areas of the building, and not much can go wrong inside an apartment assuming it’s reasonably well maintained.
However, a home inspection may be a good idea if you’re buying into a small co-op building, buying an unrenovated apartment or if your unit has a basement or roof deck.
If you’re thinking of buying an apartment, you can estimate your buyer closing costs in NYC using Hauseit’s interactive closing cost calculator available at www.hauseit.com.
You can also save money on your purchase by requesting a Hauseit Buyer Closing Credit.
Are You Buying into a Small Co-op Building?
Buying an apartment in a smaller co-op is generally risker than buying into a larger building. When a small building needs capital upgrades to expensive components such as the roof, boiler, façade or elevators, there are fewer apartment owners who share the bill.
Therefore, hiring a home inspector to assess the overall condition of the building may be a good idea if you’re buying into a building with 10 or fewer units.
The second reason why smaller co-ops are risker is due to the fact that there is a limited budget available to pay a managing agent. Some managing agents in this price range aren’t very good, and they may not conduct routine inspections or follow adequate maintenance procedures.
Is the Apartment in Need of a Total Gut Renovation?
It’s quite common for home buyers to request an inspection in the case of an unrenovated co-op or a unit which is in a wrecked or otherwise totally unmaintained condition. Co-op apartments being sold in this condition are usually a product of an estate sale or other scenario where someone has continuously occupied an apartment for decades while doing little or no maintenance.
Save Money with a Hauseit Buyer Closing Credit: https://www.hauseit.com/hauseit-buyer-closing-credit-nyc/
#hauseit #hauseitnyc
https://www.hauseit.com
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