Home Buying in Brooklyn>Question Details

Dan, Home Buyer in Brooklyn, NY

Hi Trulia! First time buyer with an offer accepted on a Coop in brooklyn. The issue is that I am agentless and I was wondering what I should be doing?

Asked by Dan, Brooklyn, NY Thu Jul 25, 2013

I already have contacted my lawyer and the seller's agent, however, should I reach out to the management agency? What else should I be doing?

Thanks!
-Dan

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Answers

9
The seller's agent can be your agent (dual agency) as well, or you may chose your own agent to represent you.
The seller's agent should be sending an attorney's work sheet to your lawyer as well as the seller's lawyer. (These are a summary of the terms of the purchase, names, purchase price etc.
The seller's agent should be sending the prospectus and proprietary lease to your lawyer along with a co-op board application.
A contract should be forwarded to your lawyer from the seller's attorney.
After your lawyer does his/her due diligence for you about the co-op you are buying into and he thinks it is a good investment, he/she will call you in to sign the contract and give you the co-op questionaire. Once you sign the contract, it's time to get a mortgage.
0 votes Thank Flag Link Mon Jul 29, 2013
Your attorney and the listing agent will be of assistance, but you will have to do your own due diligence...speaking with management is not a bad idea. Good luck!
Web Reference: http://www.bverealty.com
0 votes Thank Flag Link Sun Jul 28, 2013
Dear Dan:

Speak to the seller's agent to guide you. Your lawyer is protecting you in a legal fashion. The thing you should be doing right now is to make sure your attorney has all the co-op documents he needs to review like the financials, offering plan if there is one, house rules and/or the co-op application. The seller's agent can get all that for you if you need help. Also, if you are getting a mortgage, make sure the bank has all your documentation ready to submit to underwriting as soon as you have a fully executed contract.

If you want, you can also call me direct and I would be more than happy to give you some additional guidance. Either way good luck!


Sincerely,
Mitchell S. Feldman
Associate Broker/ Director of Sales/ e-Pro Realtor
Fillmore Real Estate
Office: (718) 252-2000/ Cell: (917) 805-0783
Email: MitchellSFeldman@aol.com
0 votes Thank Flag Link Thu Jul 25, 2013
Hi Dan

So your dealing with the listing agent which is not a problem but when you met with him you should have signed a disclosure which should state who he represents chances are he's representing the seller and he should have explained that to you, if he said he's representing you as well that's called dual agency then his office should have assigned another agent to represent you unless both the buyer and seller agree to dual agency. In any event keep in mind that if he told you that he represents the seller his fiduciary responsibility is to his client which is the seller but he still should have honest dealings with you as the customer

Thanks Felix
(917)692-7702
0 votes Thank Flag Link Thu Jul 25, 2013
Hi Dan
good luck with your purchase. hope all goes well.

However, if the deal dies learn from your mistake here and get your
own agent to work with you.
0 votes Thank Flag Link Thu Jul 25, 2013
It appears that you chose to work with the listing agent, therefore ask the agent your questions....
0 votes Thank Flag Link Thu Jul 25, 2013
Daniel,

It looks like you have elected to have the seller's agent represent both the seller and you. This is called Dual Agency.

I would think that the selling agent is your contact for any and all questions at this point. Keep in mind that the sellers agent is still obligated under the law and guidance of the Real Estate Board of NY to behave in an ethical manner.

So, keep in mind that they are working for you now as well and address any questions that you have towards them or your lawyer.

Good luck in your new place!

Best Regards,
Janine
0 votes Thank Flag Link Thu Jul 25, 2013
Hi Janine,
It's funny that you say that. I got concerned when the seller's agent gave me the DOS Disclosure form that said that she was only the seller's agent, not a dual agent.
Flag Thu Jul 25, 2013
Dan, how are you?

Feel free to contact me so I can assist you.

Have a great and safe day.


Thanks,

Aaron J. Eagle
Licensed Real Estate Salesperson
Bergen Basin Realty
Cell #: 718-730-0096
Office #: 718-763-4110
Email Address: aeagle124@gmail.com
0 votes Thank Flag Link Thu Jul 25, 2013
Hello Daniel,

If there is any way I can help you please let me know. I have been a real estate agent for over 15 years in Brooklyn and would help you right now.

My cell phone number is 212.300.3919

Luke Constantino
Realtor
Commercial/Residential
Keller Williams Real Estate
9120 4th Avenue Brooklyn, NY 11209
Office: (718) 954 8400
Direct: (212) 300-3919
lukeconstantino@gmail.com
0 votes Thank Flag Link Thu Jul 25, 2013
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