Okay let me clarify- I'm the one who asked about the coop application amounting to $1100. I wanted to know if

Eai23
Home Buyer
Bronxville, NY

this is a typical cost for applying to the board or not. the $1100 includes a $300 non-refundable deposit (oxymoron?) for your dog (along with a picture), and other fees for move-in deposit, Mgmt. company, money for the processing mortgage related questionnaires...outrageous?

Answers (3)
Barbara O'Conne...
Agent
10703

I think $1100 is a bit outrageous. However, you need to break the fees down. An application fee should not include a non-refundable fee for you dog (unless you have already been approved by the Board). In that case they might charge a dog fee, although I have personally never heard of one and I've listed and sold units in buildings that allow dogs. A move-in deposit is usually just that, a deposit. If the move goes well and you have not damaged any common areas, you should get this back. This can usually run about 300-500 so that's a big chunk of the $1100. This is quite customary. The others sound like standard fees that most coops charge, appli fee, processing fee, etc. I know it sounds like a lot of money. But the coop is thinking if you can't afford these fees, then you probably can't afford to live here. That being said, when fees seem outrageous, you may want to reconsider. This may be a pattern of practice for the coop and you may not want to live in a place where there are so many "fees", and could this have anything to do with the fincancial condition of the builiding. An account or a lawyer can help you with this question.

Sat Aug 29 2009, 20:04
Ellen Schwartz
Agent
New Rochelle, NY

Hi Eai23,
These fees are not outrageous. These seem to be usual and customary fees charged by the coop board. There are some coop boards that require all forms being submitted in triplicate thus adding a large copying cost. There are not as many pet friendly buildings and the board requirements may be stringent. Most condos do allow dogs and there is usually a higher cost to getting into these buildings. It is part of the process.
It is important to work with an agent who has had experience selling in the buildings that you are interested in and who can hold your hand through the process. That I can do for you.

Ellen Schwartz
Associate Broker
Prudential Centennial Realty
4 Chase Road
Scarsdale, New York
914-420-4615
http://ellen.prucent.com
eschwartz@prucentennial.com

Web Reference: http://ellen.prucent.com
Thu May 21 2009, 15:24
Nancy S. Jones
Agent
Bronxville, NY
FIRST ANSWER

In my opinion, the $300 for the dog is unusual. All the other fees are typical but, move-in deposit should be refundable after it is determined your movers did not damage anything.

Nancy Jones

Thu May 21 2009, 07:05

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