Home Selling in 11375>Question Details

co-op seller, Home Seller in Forest Hills, NY

when is the good time to sell co-op in 11375 area (64 rd & 102 st) ? How long does it take to sell co-op?

Asked by co-op seller, Forest Hills, NY Thu Jan 17, 2013

when is the good time to sell co-op in 11375 area (64 rd & 102 st) ? How long does it take to sell co-op?

Help the community by answering this question:

Answers

14
Spring time is a good time to list properties for sale as more people starts to look around to purchase when the weather takes a turn for the better.

Assuming that your asking price is reasonable, it should take somewhere between 3-6 months for you to close on the transaction - waiting for the right offer, waiting for the buyers to obtain mortgage and waiting for board interview/approval.

Hope that helps.

Regards,
John
917-595-9759
0 votes Thank Flag Link Sun Mar 17, 2013
The correct time is always now. People at different times of the year purchase for various reasons. For example tax deductions promote end of year sales. Keep in mind it takes longer to sell a coop than it does a house or a condo. There are just less buyers for condo's in general as well as lending issues and various other things that can affect how long it will take to sell . Fortunately yours is located in a desirable area which is an advantage when trying to sell.
To try and determine how long it will take to get from viewing to contract and then to closing there are a number of questions that must be answered. Some questions to consider are what is the condition of the unit. Is it newly renovated or is it original condition or an old renovation. There is a lot of competition for you in this community and your unit will be competing against many other units for sale in this area. What amenities does the coop project have, Gym, Pool, Concierge etc.
Price it right. A competent agent will be able to perform an accurate market evaluation and guide you. There is more to consider and plan for. Contact a competent agent for the best advice.
0 votes Thank Flag Link Fri Mar 8, 2013
Now is a great time to list your Co-Op in the market since summer is approaching; make sure that the agent lists with the Multiple Listing Service (rather than exclusively) to give your co-op optiumum exposure and thus putting you in the best position to get the best possible price! Do your due diligence as a seller and collect all the accurate facts for your cooperative (rules, selling process, board approval process, parking regulations, accurate maintenance fees-what the fees include and what they do not etc.) to put you in the best position as a seller.
0 votes Thank Flag Link Sun Mar 3, 2013
Quick and dirty tips: It's never a bad time to sell in Forest Hills, it just really depends on the size of your Coop and the competition out there. Typically from signing a contract to the actual closing could take anywhere from 2-3 months. Longer if it's during the summer time as board members may be away for summer vacation.

Email me at asoto@corcoran.com
0 votes Thank Flag Link Sun Feb 17, 2013
Usually during the Around February is a good start as most serious buyer are looking to purchase.
Generally once you reach the Spring Season most seller are listed on the market and you will
have many competition. If you are looking to sell it's Generally 1 Month to receive an offer as long as you are priced in the market range. 2-3 Months if you are priced higher then market and you might
have a price drop. then to close it takes another 1 month or so with Bank commitment letter if the
buyer is taking a mortgage and another 1.5 month or more for the management to process the
application and have the board schedule an interview. Total of give of give or take 3 months after signing the contract.
0 votes Thank Flag Link Mon Feb 11, 2013
Best next action is to ask a local Real Estate Broker by clicking "Find a Pro" in the main menu at the top of this website. http://www.naplesrealestateguys.com/
0 votes Thank Flag Link Fri Jan 18, 2013
If you are ready and have a good reason to sell, the time is NOW. Co-op selling process is longer than that of Condo or House.
But, if you don't have any compelling reason to sell or you are not planning to buy another property, it is better to stay put till the market is up.
By the way, 64 RD and 102 ST is Rego Park 11374, not Forest Hills 11375.
0 votes Thank Flag Link Fri Jan 18, 2013
This market requires a better understanding of how buyers and sellers relate, and that’s where experience comes in. The time is now, sales are up 11% and lending is up 25% for this quarter.

Fajardo Delacruz
Licensed Real Estate Agent
Century Homes Realty Group llc
Direct Line: 347-932-0609
0 votes Thank Flag Link Thu Jan 17, 2013
now is the best time to sell the coop , if it is priced right it will be sell fast
contact me i will be glad to help you.
0 votes Thank Flag Link Thu Jan 17, 2013
Hi Peter, Most sellers list their homes in the Spring. Doesn't mean you will not be able to sell in the winter. Here in DC we sell all year round.
0 votes Thank Flag Link Thu Jan 17, 2013
The Best time to sell any property is spring, cause that's the highest percentage of buyers out
looking.
If you price it correctly with similar sales in your building 2-4 Months, If your experimenting and making multiple price adjustments 6-8 months average.

Good Luck.
0 votes Thank Flag Link Thu Jan 17, 2013
It's always a good time to sell when you are ready to sell, and need to sell. As for how long it will take--much will depend on exact location, pricing, condition, amenities, etc.; also keep in mind that sometime after contract, the co-op board will need to interview the potential buyer, in order to determine if an approval will be granted, or not....
0 votes Thank Flag Link Thu Jan 17, 2013
A co-op takes longer to close then a SFR or condo because your buyer is going to have to get a mortgage commitment before they apply to your Board. Most co-op Board meet once a month to interview applicants.
At this time be nice to everyone on your Board and your building staff. When I bought my co-op the seller was so unpopular that the Board dragged it's feet about looking at my package and setting up the interview.
0 votes Thank Flag Link Thu Jan 17, 2013
Coops are more challenging to sell than houses. Therefore they take a bit longer. It depends on your coop board, asking price and the buyer's bank. 6-10 months is a safe timeline. As for when is a good time??....it's whenever you are ready...there is no good or bad time. Again, if you like call me. I'm listed on Trulia.
0 votes Thank Flag Link Thu Jan 17, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer