All great answers, and all sound good. The first and foremost is to look at your condo rules and regulations (also know as bylaws), with the help of your attorney. If in the condo bylaws you will find "first purchase" by condo, than you need to raise the price to a reasonable amount, but condo (or coop) can't buy your parents apartment without having that in the condo bylaws first.
I see this question a lot. The only correlation between your income and how much you should buy is that your income is one of the limiting factors. If you can get a home to meet your needs for a $150,000 why spend $300,00? Look at your other needs like size, location, and appointments. Use what you qualify for as a limiting factor not as a goal.... more
Depends on which part of Flushing, if you have a car, you should find out how long to wait for a parking spot or how easy to find a street parking around the co-op. Regarding maintenance increase, please ask a copy of maintenance increase for last 5-10 years.... more
You will get an appraisal done. Its a little more expensive than a freestanding home. They will appraise the entire building and then they determine the value of your unit as a percentage of the entire building. Hope that helped.... more
Yes he can. I can not imagine any Co-ops in Flushing having a Proprietary Lease or House Rules restricting a 1 bed room unit to single occupancy. It would violate Fair Housing Familial Status law.... more
Some boards are particular about the owner occupancy, you need to check with the board. Also, better choice for you would be a sponsor unit, where you don't need a board approval. We work with several sponsors in the area, feel free to call us, 646-606-2366.... more