Asked by Cummingskl, Brooklyn, NY • Thu Dec 12, 2013
Changing the occupancy agreement and the by laws to allow the cooperators to transfer or sell their apartments for the market value; however, there is a sale fee which will be voted on soon to be an amount equal to 50% of the the resale price. This amount is payable to the Corporation. After the dwelling unit is vacated and the Corporation performs such inspections and repairs as deemed necessary, the balance of the resale plus cost of any repairs are deducted and the balance is paid to the seller of the unit. For example, if my unit goes for $50K, my resale fee is $25k plus any repair costs to the unit.
My question is, is this normal practice in coop's?
Real Estate in Brooklyn
Popular Categories in 11205
Email me when…