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Coop Maintenance All Locations : Nationwide Real Estate Advice

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Showing results for Coop Maintenance [Clear search]
Mon Jan 21, 2013
Kathryn Lilly answered:
In the neighborhoods that you are looking at, the market is extremly competative. Any offer you submit is going to be against other buyers, probably some all cash or not asking for much in the way of a mortgage/finance contingency. The less contingencies a buyer is asking for, the more likely the offer will be accepted by a seller.
That said at the moment you could buy a studio apartment, depending on your income, downpayment, etc. A year from now I suspect the market will be very different. The amount of cash for downpayments and closing costs depends greatly on your finances as well as the building you are trying to buy into. Feel free to call me to discuss further.
If you are not ready for a year, use the time to save, save, save, check your tax returns, your credit reports and spend a lot of time scouting the areas and open houses for what you think you want to try to buy.
The neighborhoods that you have mentioned are all very different; socialy, structuraly and type of architecture and property available, I am sure once you spend a bit more time in each neighborhood and be open to discovering a few other neighborhoods in the area, you will be better able to make the right choice when you are ready, financialy and otherwise to buy.
It is a bit early to work with a Broker, but feel free to call for help or direction.
Yours,
Kathryn Lilly, Broker
Realty on the Greene, LLC
718-858-7600
... more
0 votes 3 answers Share Flag
Sat Jan 19, 2013
Elena Ravich, Esq. answered:
real estate taxes are tax deductible, as well as the mortgage interest. If you own a coop, certain percentage of the maintenance is also tax deductible (coops pay real estate taxes on the buildings they own and pass them through to the owners) ... more
0 votes 6 answers Share Flag
Fri Jan 18, 2013
Christopher Pagli answered:
You just have to file with the city before the deadline, ask the management for the deadline.

Chris
0 votes 1 answer Share Flag
Sat Feb 1, 2014
George Dakis answered:
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. ... more
0 votes 15 answers Share Flag
Mon Aug 19, 2013
James Furlong answered:
Your very best approach is to engage the services of an experienced and knowledgeable local real estate professional. They will know exactly what should be done and will do it for you.
0 votes 16 answers Share Flag
Thu Jan 10, 2013
Anna M Brocco answered:
Each coop is different, therefore you really should consider working with an agent of your own who can provide any necessary information....
0 votes 3 answers Share Flag
Mon Jan 7, 2013
Rey Hollingsworth Falu answered:
Maintenance fees in the $150,000 coop price range in Bronxville will range from $600/month to $800/month these days. If you need more info...AskRey.

Rey Hollingsworth Falu
Licensed Associate Broker
Houlihan Lawrence - Bronxville

917.855.0277
Rey@askrey.net
AskRey.net
... more
0 votes 5 answers Share Flag
Wed Mar 4, 2015
Cecilly Bumatay answered:
Hello Yesenia,
Thank you for your recent inquiry. This is a great question and the first step is to have a local real estate expert, like myself, come by a take a look at your home in order to make an accurate pricing opinion. Many factors will determine a property's overall value (location, condition (unit & building), neighborhood rating etc.) Any real estate agent can give you a ball park estimate based on the information you have provided, but I am a professional who likes to be as accurate as possible while determining value. I can also educate you on current market trends and inform you on what buyers in your market are looking for. I'd be happy to assist you and offer a market analysis at no cost to you. Contact me today so we can discuss things a bit further.
I look foward to hearing from you soon.

Happy New year!

Sincerely,
Ceasar Rosas
Exit Realty Search
646.338.7267
sellandbuyhomes2@gmail.com
C2Chomes.com
... more
0 votes 11 answers Share Flag
Mon Apr 22, 2013
Anna M Brocco answered:
Keep in mind that taxes do vary by exact location, property size, upgrades, schools, local amenities, etc.; for any necessary clarifications, it's always a good idea to contact the local tax assessor's office with questions. Coop maintenance fees do include school and property taxes... ... more
0 votes 4 answers Share Flag
Thu Jan 3, 2013
Nick Agostinelli answered:
The reason the maintenance is so high is because this building is on landlease. In other words, unlike most co-op or condo buildings, the land underneath is not owned by the building and rent must be paid for the right to occupy that land. All of Battery Park City is this way, and scattered other buildings around the city. In general, the apts. in such buildings are priced lower to offset the high monthly cost. I hope this helps. ... more
0 votes 4 answers Share Flag
Fri Jun 16, 2017
Katherine Pontone answered:
This is a 340 unit complex called Fillmore Gardens which is 100% co-op. . This Garden Apartment complex was built in the 1960's. Coincidentally, some of the original owners have reached retirement and have decided to re-locate. These units can not be rented, and the complex has a no pet policy. Some apartments are owned by Estates and, since the heirs are unable to rent, they need to sell. The complex is extremely desirable since it is close to shopping, transportation and is located in a residential area. Every unit comes with the use of a parking area which is located behind the buildings, the maintenance includes gas, electric and heat and the brick buildings and outside areas are well maintained. ... more
0 votes 6 answers Share Flag
Mon Jul 8, 2013
Anna M Brocco answered:
Generally the fee is based on the number of shares owned, and each shareholder pays a proportionate amount of the building's expenses, plus additional services, amenities, etc., as stated in the proprietary lease. For any necessary clarifications ask management the question and or review all the related documentation with your attorney. ... more
0 votes 10 answers Share Flag
Wed Dec 26, 2012
Christopher Pagli answered:
Hi, Nobody can properly advise you on an offer without looking at the last 6 months of sold data for that immediate area and seeing the actual unit. Make an educated offer where you base it on sold comps and what you feel it's worth after seeing similiar units. This way the seller can see you have done your homework and you aren't shooting in the dark. As for the closing costs you need to be careful with a coop. Most coops want to see that you are financially comfortable after making your minimum required down payment and paying closing costs.

Honestly, I rarely see a seller willing to pay a buyers closing costs in NY. You can expect you closing costs to be roughly 3.5% of the purchase price. If you aren't familiar with the coop board approval process have an agent fully explain it so you know what to expect in advance.

Sincerely,
Christopher Pagli
Licensed Associate Broker
Accredited Buyer Representative
William Raveis Legends Realty Group
914.406.9023
... more
0 votes 5 answers Share Flag
Tue Jul 26, 2016
Jose Martinez answered:
Coops are unique. I can show you the pro's and Con's.

Let Coldwell Banker bring you Home!!




Jose Martinez
201-494-1973
0 votes 9 answers Share Flag
Wed Dec 26, 2012
Zachary Hosford answered:
Hi Alan,

The condo information as follows (per listing):

Condo/Coop Fee: $95.00/ Monthly
HOA/Condo/Coop Amenities: Common Grounds, Extra Storage, Fencing, Gated Community
HOA/Condo/Coop Rules: Covenants, Parking, Pets-Allowed, Restrictions
HOA/Condo/Coop Fee Includes: CAM, Custodial Services Maintenance, Ext Bldg Maint, Lawn Maintenance, Management, Master Ins Policy, Reserve Funds, Snow Removal

Hope this helps, Happy Holidays!

Best,
Zach
... more
0 votes 3 answers Share Flag
Thu Dec 20, 2012
Jacques Ambron answered:
The tax deduction is based on maintenance paid, therefore you will get a tax deduction no matter when you move in based on the amount of time that you paid mantenance
0 votes 6 answers Share Flag
Mon Apr 8, 2013
Joseph Hastings answered:
Hi James or...not? This is a Coop. Property taxes are part of the maintenance, you don't get billed separately. The maintenance is $833.00 per month. If you scroll to the bottom of the listing page, you can contact the listing broker for the deductable. This building is a walk up and the apt is on the 5th floor. It is priced to sell and the price is reflective of the walk up. Good luck. ... more
0 votes 3 answers Share Flag
Mon Dec 17, 2012
Peter J Rogers answered:
The Sherbrooke building is a co op rather than a condo. With a co op you are buying stock in a corporation With a condo you are buying the bricks and mortar.
Hence the price is a lot lower than a condo
For example I just got back to my computer after showing a unit in the Camelot which is a condo. 2 beds 2 baths the price is $350,000.
there is usually a big difference in the monthly maintenance - the co op being a lot higher as it includes a portion of the real estate taxes on the building and also part of the underlying mortgage on the building. I do not know what thew monthly is on that unit but I bet you its over $1,000 a month
... more
0 votes 2 answers Share Flag
Wed Dec 12, 2012
Ruthy B asked:
I'm still in hot pursuit of that Coop/Condo in Westchester County!Can anyone provide me with specific ...
0 votes 0 Answers Share Flag
Mon Dec 10, 2012
Nick Rafello answered:
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