Home Buying in Mount Vernon>Question Details

John Doh, Home Buyer in Mount Vernon, NY

are maintenance fees negotiable for co-ops in the mt vernon area?

Asked by John Doh, Mount Vernon, NY Mon May 25, 2009

want to buy a condo in pearsall gated community but maintenance fees are excessively high. curious if they're usually negotiable and if so what's the elbow room for negotiating.
*same question for listing price

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4
I haven't heard of any co-op in Westchester having negotiable maintenance fees. Regarding the price of a co-op, I think that to some degree, most properties are negotiable.
0 votes Thank Flag Link Sat Aug 29, 2009
Maintenance fees are not negotiable. They are set by the board. If they are very high compared to the others in the area, I'd ask why. Also, check to see the percentage that is tax deductible. The higher that number, the more you can deduct on your taxes.
0 votes Thank Flag Link Thu Aug 27, 2009
You'll never know unless you make an offer with that request. For example, you could request (as one of your seller's concessions) to cap your co-op fees for the first X years, and have the current seller to pay for any overage.
0 votes Thank Flag Link Mon May 25, 2009
I have never heard of anybody negotiating maintenance fees in any condo nor coop in Mount Vernon. The idea is an interesting one, but a scary one too. Remember, the maintenance fees pay for the upkeep of the grounds, building exterior and interior and fuel. Imagine your building running out of heat because some smooth talker negotiated themselves a lower maintenance. A coop is a cooperative and maintenance is paid by shares.

Rey Hollingsworth Falu
Licensed Associate Real Estate Broker
Houlihan Lawrence

Direct 917-855-0277
rhollingsworth@houlihanlawrence.com
Web Reference: http://AskRey.net
0 votes Thank Flag Link Mon May 25, 2009
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