Home Buying in Weehawken>Question Details

Lina, Home Buyer in New York, NY

What is difference between buying a condo from one owner or a group of investors? I'm looking at two condos,

Asked by Lina, New York, NY Fri Apr 4, 2008

one is completely new in a small 7-unit renovated building, the other is in an established building and is owner-occupied. Which do I have the better chance at getting the best price?

Help the community by answering this question:

Answers

3
Hello Lina,
Buying real estate is very complicated.
You have received some good advice from the other three people and here is what i can add to that.
Understanding the market today and knowing what you should pay for it is the most important element in acquiring real estate.
If you have a qualifies buyers agent that can help you with this will save you the trouble of making emotional decisions.
i'm sure you will agree when we decide for ourselves we usually leave money on the take due to the emaotional factor. Have some one negotiate for you. Ask a lot of questions to feel the seller out.
In either condition know what you want to pay for it and make the offer and see who comes back to you with the best possible terms and conditions.
All the best to you and hope you can buy the property at the right price
Munish
munish@kw.com
0 votes Thank Flag Link Thu Apr 24, 2008
If buying from one person - no problem. That should be the only person on title. But, if buying from a group, be sure that when title is pulled all person(s) on title approve the offer and all aspects of the sale from start to finish. if there are three investors on the one condo, ALL THREE must be on board. other than that all should be pretty straight forward.
0 votes Thank Flag Link Sat Apr 5, 2008
By now you can be sure half the investors can'f stand the other. If you can wade through the flotsom you can usually get a good deal with investor owned condos.
0 votes Thank Flag Link Sat Apr 5, 2008
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer