Home Buying in Bronx>Question Details

Sol Lopez, Home Buyer in Tremont, Bronx, NY

found hdfc coop and made a bid, if they accept what are the next steps i have to make, and how do i find out about restrictions and financial records.

Asked by Sol Lopez, Tremont, Bronx, NY Sun Apr 29, 2012

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4
Hello Sol,

How are you? I hope you're doing well.

I don't know if you were accepted in the coop you mentioned above but if not and you're still looking, please feel free to contact me.

I have 2 beautiful & affordable HDFC coop apartments available. They're both located in a very well maintained building yet are specifically price for moderate income wage earners. The down payment is only 10% at contract signing.

Feel free to check them out at my link below & contact me if you wish to schedule an appointment to see either or both of these lovely homes.

Hope this information is helpful to you. I wish you all the best :-)


Looking forward,

Christine Gordon
Licensed Real Estate Broker
Gorick Realty, Inc.
Cell: 917.881.2924
Fax: 347.328.9352
View listings at http://www.gorickrealty.com
"Home is where the heart is."
0 votes Thank Flag Link Sun Jan 4, 2015
Your agent and or attorney can best advise, consider a consultation. Review with your attorney the building's financials, bylws, and all other related documentation before signing any contract....
0 votes Thank Flag Link Sun Apr 29, 2012
Hi Sol.
I would have hoped that you found out about the income restrictions for this particular building PRIOR to making the bid, so you can be sure you if you are qualified, and use that to stress to the seller that you are a good candidate. No sense in going through any hurdles in the purchase process only to be rejected after much work. One way to find out if you meet the ceiling caps (maximum you and other working adult who will be on the shares with you earn annually) is to ask the agent for the unit (if there is one), or the bulding management company, or the person you placed your bid with (who should have prequalified you in the first place as a condition of accepting your bid).
If you are referring to the financial records for the building, the attorney you hire to help you through the contract and closing of this purchase (and I urge you to get one, your own, and not to use the one that the seller is using) ougt to due his or her dilligence for that on your behalf.

If you are referring to restrictions in terms of what you cant and cannot due in the apt regarding renovations, pets, subletting, etc, you should look in a copy of the house rules and other coop documents. Usually the aplication package or introductory info packet prepared for prospective buyers will contain that info.

Good luck!

Mark Weitzman
Associate Broker
Prudential Douglas Elliman Real Estate
mweitzman@elliman.com
NOT in Manor Park - Manhattan, Riverdale, lower Westchester and parts of Brooklyn.
0 votes Thank Flag Link Sun Apr 29, 2012
Dear Sol,

If you are working with an agent they can advise regarding the next steps of your transaction. If you are not working with an agent, you will need to hire an attorney, it would be especially helpful to work with an attorney that has handled real estate transactions. Your attorney will review the offering plan which includes the proprietary lease, house rules and other information to advise you regarding your purchase. You can ask your agent, family members, friends, or use google to search for attorney in the area.

Good luck.
0 votes Thank Flag Link Sun Apr 29, 2012
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