Articles

Co-Op Financial Requirements in NYC

Co-op financial requirements in NYC are stricter than the requirements for buying a condo and you might need to save much more than the usual 20% for down payment, to meet the financial requirement for a co-op board.

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What Is ACRIS?

ACRIS allows buyers, property owners, brokers, and attorneys to look at and gain insights from property documents like deeds and mortgage records.

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What Is Amortized or Net Rent?

Net effective rent or amortized rent is calculated by dividing the total rent you have to pay (after discount) over the term of the lease by total months in the lease.

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What is New Development?

New development is usually a newly constructed or heavily renovated structure that is for sale directly by the developer responsible for the construction/renovation.

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