Monday, October 18, 2010

Going over things with a new coop buyer

It still amazes me that often buyers, even those who have worked with other brokers, come to me, with so little knowledge of buying a coop. It is not that complicated but buyers need to know certain things in order to go forward, for example that most coops want to see liquid assets after closing. I recently have had potential buyers with no knowledge of this information, that did not figure this into their costs for buying.

I have written a number of times before how I like working with new buyers. It is usually very fulfilling as a broker and I am glad to be able to explain the process thoroughly so the buyer knows how it works each step of the way. Again, buying in New York City is different than most other places and a buyer of a property, in particular a coop apartment needs to know the process so there is not much confusion as the deal progresses. There are enough stops and starts that it is helpful for the buyer to be as aware as possible of the usual steps in the process, so it is as easy experience as possible for the buyer.

Enjoy the fall weather-I love it!

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