Regarding HDFC's -- what are the residency requirements prior to purchase? In other words, how long must you be a resident in New York City?

Joyfull
Joyfull
Home Buyer
New York, NY

Thu Oct 22 2009, 13:22 - Home Buying in New York - 1 answer
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Mitchell Hall
Mitchell Hall
Broker
New York, NY
FIRST ANSWER

HDFC coops have income restrictions. You will be required to document income, employment and assets. The prior calender year income evidenced by your tax return is what determines your eligibility.

The HDFC apartment must become your primary residence after you purchase it but I don't believe there is a NY residency requirement prior to purchase.

Web Reference: http://www.nyc.gov/html/hpd/html/home/home.shtml
Fri Oct 23 2009, 08:13
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