coop: Can an international Buyers or Investors buy a property in a co-op in Manhattan New York? - 01/15/12 05:45 PM
"Can an international Buyers or Investors buy a property in a co-op?" Co-ops are 80% or more of New York Real Estate. Co-op buildings are regulate by Co-op Boards, they make every decision about the coop building and set each coop house rules and policies. Co-Op board of directors would have to approve every potential purchaser. International Buyers or Investors to buy an apartment in a co-op building are not easy for several reasons: Co-op purchaser approval takes weeks up to months -- and is a rigorous and far from easy process. The majority of co-ops only approve buyers with United States employment, United State income tax and good … (4 comments)
coop: Manhattan Relocation Buyers Must Know (Part One-Manhattan Real Estate Etiquette) - 05/06/09 07:09 AM
Manhattan Relocation Buyers Must Know, we have been assisting out of town buyers and renters to find their perfect place to live for years now. We understand that searching for an apartment in Manhattan New York may seem a bit overwhelming at first. As Manhattan Relocation Agents-Brokers here in New York city, we have the Knowledge of what to expect, understanding the process and terminology, and learning about the present New York Real Estate market will be extremely important in helping you to find the perfect home. Working as Manhattan Relocation Agents-brokers, we can assist you in both sales and rentals … (3 comments)
coop: Pied-à-terre in Manhattan New York Real Estate - 02/18/09 10:22 PM
Pied-à-terre in Manhattan New York Real Estate Definition: a pied-à-terre (French Foot on the ground) is a small living unit typically located in a large city (typically an apartment or a condominium). It typically is used as a temporary second residence, either for part of the year, or part of the work week. Pied-à-terre in Manhattan New York Real Estate interest many buyers who have a primary residences out of town, and especially foreigner buyers want to buy an apartment in Manhattan. Pied-à-terre usage are prohibited by many Co-op buildings in Manhattan New York because they want full time residents to protect the corporation … (8 comments)
Foreign National buyers and investors are majority of our clientele, we often have to explain to the buyers about the Manhattan housing market, which consist of Condominiums and Co-Ops. Often, we encounter the question.... "Can a Foreign National Buyers and Investors buy a property in a co-op?" Co-ops are 90% or more of New York Real Estate. Co-op buildings are governed by Co-op Boards, which make every esseential decision about the building and set building house rules and policies. Among those decisions, Co-Op board of directors approve every potential purchaser. Foreign … (5 comments)
Overview At the close of the third quarter, there was significant turmoil in the financial markets and unprecedented intervention by federal government agencies. The bailout of Fannie Mae, Freddie Mac and insurance giant AIG, as well as the investor run on the money market Reserve Primary Fund and the bankruptcy of Lehman Brothers, marked a significant change in the Manhattan and US housing market. The contraction of credit continues to play a primary role in the current market. There was a decline in price levels and the number of sales of … (3 comments)
coop: Is 1% Mansion Tax Reasonable or Not? - 12/29/08 07:58 PM
Not only the Real Estate in Manhattan New York city is expensive, sometimes the closing cost can be intimidating as well. It is important to calculate the closing cost or have an idea of it before buyer starts to look at properties. My buyers always ask... WHAT IS MANSION TAX, especially when they are looking into New Construction in New York city... HERE IS A LITTLE BIT OF BACKGROUND In 1989 the New York Legislature enacted New York Tax Law Section 1402-a, which provides for the ability of the state to collect a 1% tax from buyers who purchase a … (6 comments)
coop: Ten Pointers to Help You Pass the Co-Op Board Interview - 12/24/08 06:08 PM
Ten Pointers to Help You Pass the Co-Op Board Interview 1 - Being invited to the interview is a good sign. The interview is the board's opportunity to meet you and ask specific questions about your application. The style of the interview can range from an informal gathering of board members in an apartment to a formal interview with board members lined up at a table with you in the hot seat.
2 -Dress-up and be prompt. In terms of dress and promptness only a board interview should be treated no differently than a professional job interview. 3- Prepare for … (6 comments)
coop: Attract INTERNATIONAL BUYERS for your properties in 2009! - 12/22/08 10:04 PM
The New York Times recently reported that real estate agents around the country are ratcheting up their efforts to woo the Russian oligarchs, Irish investors, Korean industrialists and other international cash rich buyers who have been making headlines with lavishing purchases.
With my own client list include 85%Asian investors (doctors, attorneys, financial consultants and professors from China, Taiwan, Hong Kong, Korea, Singapore, Malaysia), 5% European (Italian buyers in fashion business, British buyers in music business), it is very hard to ignore that New York city is a diverse place to live and I begin to think that everyday we are … (7 comments)
coop: New York City Manhattan Closing Cost - 12/21/08 02:01 PM
Closing Costs This closing cost guide is designed to give you the general costs associated with the purchase or sale of a cooperative, condominium or townhouse property. Please note that these are estimates and that potential buyers and sellers should consult their real estate attorney or financial advisor for specifics. Please take note we do not represent that these are the entirety of potential costs, but are only to be used as a guide. Mortgage closing cost estimates have been furnished by our affiliate, Preferred Empire Mortgage Company. Condominiums … (1 comments)
coop: Types of NYC Manhattan Buildings: Brownstone, Pre-war, Post-war, Lofts... - 12/19/08 05:51 PM
Glossary of Terms Types of Buildings Brownstones or Townhouses These are typically 4 to 6 story buildings built in the 1800's through the early 1900's. They are either single family houses or have been converted over the years into multiple apartments. As a single family home, a townhouse or brownstone offers buyers privacy and the ability to purchase without the cooperative board process. Some apartments in townhouses can have grand living spaces and, therefore, will be quite expensive. Generally, these buildings afford more "charm", with features such as gardens, fireplaces, beautiful floors and ornamental wood moldings. In almost all cases these … (1 comments)
coop: First Time Buyer in NYC: Steps to Purchasing a NYC Apartment - 12/18/08 02:12 PM
Steps to Purchasing an Apartment The steps to purchasing a co-op or a condominium in Manhattan are very similar. To give you some idea of the timeframe, Let us assume that you have found the property on which you wish to place an offer and that you have spoken to a bank or mortgage broker (if financing) to determine a comfortable financing price level. Offers are made orally or through emails in New York City. When you have found the right property, a bid or offer will be placed through your agent. They will convey your offer to either the seller's agent or to the … (3 comments)
New York City Manhattan Real Estate, Bilingual Chinese Speaking Real Estate Agent specialize in Manhattan Condominium market such as Resale Condominiums, New Construction, PreConstruction condos. We work with Oversea foreign buyers, Investors. We Specialize in neighborhoods: Upper West Side, Chelsea, Midtown West, Midtown East, Greenwich Village, Soho, Union Square, Financial District in Manhattan, Williamsburg Brooklyn and Long Island City Queens.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
"Can an international Buyers or Investors buy a property in a co-op?"
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