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
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
What Is An Alteration Agreement?
The alteration agreement specifies all the rules and regulations regarding alterations in any apartment in the building and has to be signed before alterations are made.
Written by: Brett Ari Fischer - The New York City Broker
What Are All-Cash Transactions?
Buying a property in an all-cash transaction, unlike buying with financing, allows buyers to close on a property much faster and makes the whole process relatively simpler.
Written by: Brett Ari Fischer - The New York City Broker
Air Rights – What Are They?
Air Rights or development rights refer to the building/selling rights a lot owner in NYC has for the maximum buildable area they haven’t utilized yet.
Written by: Brett Ari Fischer - The New York City Broker
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.
Written by: Brett Ari Fischer - The New York City Broker
What Is An HVAC?
An HVAC system is responsible for circulating hot and cold air inside a building and maintaining the indoor temperature at comfortable levels.
Written by: Brett Ari Fischer - The New York City Broker
What Is An Appraisal?
Property appraisal is the process of evaluating a property to determine its fair price in the current market. It’s performed by third-party professionals called appraisers.
Written by: Brett Ari Fischer - The New York City Broker
