What Is A Condo Questionnaire?
A condo questionnaire is a document used by mortgage lenders to assess condominium buildings a prospective borrower is trying to buy a condo in.
Written by: Brett Ari Fischer - The New York City Broker
How Much Are Closing Costs?
Closing costs can range between 2-4% of the property price for buyers and 8-10% for sellers because they have to pay the brokers’ commission.
Written by: Brett Ari Fischer - The New York City Broker
What Is A Certificate of Occupancy (C of O)?
In NYC, a Certificate of Occupancy is issued by the Department of Buildings and determines the use and occupancy status of a building. Read on to find out more.
Written by: Brett Ari Fischer - The New York City Broker
What Is A Capital Gains Tax?
When selling a property (an asset) for a profit, you will have to pay capital gains tax, the amount of which is determined by several factors.
Written by: Brett Ari Fischer - The New York City Broker
What Is A CAP Rate
Cap rate is the ratio of an income-producing property’s Net Operating Income and market value, which gives a simplistic idea of the property’s return potential.
Written by: Brett Ari Fischer - The New York City Broker
What Is Board Approval?
Board approval is the permission you need from the condominium or co-op board before purchasing and occupying (or renting out) an apartment in the building.
Written by: Brett Ari Fischer - The New York City Broker
What Is An Aztech Document?
The Aztech document allows co-op apartment buyers to get financing, while lenders and co-op board agree on mutually beneficial terms.
Written by: Brett Ari Fischer - The New York City Broker
Astoria
Astoria is home to a lively and diverse population, great restaurants, and a few must-see attractions.
Written by: Brett Ari Fischer - The New York City Broker
What Are Real Estate Assessments?
Assessment is an additional monthly expense that can be levied over co-op or condo unitholders to meet an expense for which there is not enough money in the reserve funds.
Written by: Brett Ari Fischer - The New York City Broker
