Principal Broker, Hopp Property LLC, Member REBNY, NARA, MANAR, NYSAR 212 9470578
Accredited Buyer Representative
Real Estate Associate Broker
William Raveis Legends Realty Group
914 406 9023
I would be glad to discuss at length. We can set up a search engine to send possible option to your e-mail. Please feel free to contact me through Trulia. Just pass your cursor over my photo and click on "contact me."
Douglas Elliman Real Estate
As Nick said there is a difference in buying a co-op vs a condo. In a co-op you are buying shares in a corporation and occupying (living in) a specific area. Everyone is responsible for any major issues that are not specifically the fault of the tenant. Taxes and building maintenance are combined in one payment if applicable. In a condo you own the area you live in and maintenance covers the common areas you share with fellow building tenants. Any issues or problems with the apartment are the responsibility of the owner and not the building at large. Maintenance and Taxes are considered separate in Condo's but can be combined when financing, which you are not.
So, while most of the time there is an application process in condo buildings, it is much easier to process and gain approval when you are buying all cash. The time frame for an all cash purchase can be anywhere from 30-60 days depending on the circumstances surrounding the sale.
If you have any further questions please feel free to ask, I am available anytime via email or phone.
Have a Happy New Year and I hope to hear from you soon.
Licensed Real Estate Salesperson
Licensed Associate RE Broker
R-TEAM at The Corcoran Group