Forum Archive

Ok so we’re in our second deal trying to buy our first condo in NYC. The first deal was a disaster that is easier left alone for now (seller couldn’t get a C of O).

We’re buying a unit in building that’s been gut renovated. The seller says they have filed the declaration of condominium. We don’t know what this means. They say they are waiting for the tax lots to be assigned to the individual units.

We check the ACRIS system but didn’t see anything about the declaration of condominium being filed or recorded with the Register’s Office. [We don't need a C of O per the bank's attorney, our attorney and seller's attorney b/c the building was built prior to 1938 so this isn't the issue]

The projected date for the seller being able to close has already been pushed back 3 – 4 times.

When we ask why we’re told we just have to wait for the city now and who knows how long that will take.

Why is this process such a mystery? Why can’t buyers get more information about this process? What is required? What is outstanding? How long it will take?

Is there some special NYC buyer’s guide that walks your through this BS?

Meanwhile my sister in another city bought a new home and it only took her a month to close, NO BS!!!