My husband and I went to open houses halfheartedly last Sunday, figuring that we'd never be approved for an apartment. Not three days later, we find out that they've accepted our offer! I understand the steps that come next (Real Estate Lawyer, contract, co-op board review, etc.) but what else? What advice can anyone give me so that I dont end up buying a lemon? We are going to see the apartment again this week. What should I be looking for?
Buying a co-op--Advice Please!
by NYer Girl 3 Replies latest jw friends
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nvrgnbk
Is the neighborhood in decline or is it on it's way back?
It's all about location.
For example, Hell's Kitchen is really amazing these days.
Good luck!
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bikerchic
We are going to see the apartment again this week. What should I be looking for?
Hire a good home inspector they can and will find things which may or may not be a deciding factor in your purchase. A home inspector is worth their weight in gold!
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G Money
The outlook for US real estate is dismal and prices will slide in many markets until 2009. If and only if you can afford the property with a 30 year fixed rate loan then do it. Also do not be surprised if the value goes down and you cannot sell for what you bought it for until at least 2010 or 2011. That is the reality of today's real estate economy.