Doorman buildings in NYC are buildings that are manned 24/7 by a doorman who controls entry to the building and provides additional services like signing for deliveries.
Sponsor units are builder or developer-owned apartments in condos and co-ops that can be sold by bypassing board approval requirements.
Rent-to-own can be an amazing option for people who want to make a move from renting to buying but still need time to save enough money or build credit.
New development is usually a newly constructed or heavily renovated structure that is for sale directly by the developer responsible for the construction/renovation.
Mortgage pre-approval is the conditional commitment of a lender to issue a mortgage loan to a potential buyer, making them more attractive to sellers.
A managing agent is crucial to the healthy operations of a co-op or condominium building and allows for minimal board intervention for maximum resident satisfaction.
A property in NYC can have several different types of liens, and until these liens are paid off or settled, it will be very difficult for the property owner to sell that property.
An HDFC building is subsidized housing for low to medium-income families, mainly for owner-occupation.
Due diligence is the process of looking at the financial and legal issues of the property you are trying to buy, and it’s usually conducted by an attorney.
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