First Co-op Purchase. 300 pages?


We’re looking to purchase our first co-op. It’s beautiful pre-war and the broker and sponsor have been nothing but gracious and kind. Seemingly honest.

1) The contract is 300 pages though the finances seem good. Is there some kind of hidden secret I should be looking out for in this monstrosity? What should I be worried about them hiding in this Neal Stephenson novel?

2) The Broker keeps telling me that the list of things we need done to the apartment can’t be put in the contract because sponsor sales the contract can’t be changed and the management company will turn us down if we try to change or ammend the contract. But he also says that nothing will be done until we sign the contract binding us to just a verbal agreement. Should I demand something signed in writing? The balls in there court and I really don’t want to get screwed.

Please advise!? I read this forum like a soap opera daily…

Categories: Real Estate
By girlshatebrian | 02/17/2009 1:14 AM | Comment

“Half asking Price” in Manhattan


I’ve heard a couple of people posting all over the internets, that buildings are taking bids at half their asking. Does anyone have any proof of this? Can anyone back these rumors up? I’m looking to buy for the first time and was aiming for brooklyn but if I can sneak into the east village at around 200k for a livable sized 1BR. (none of this box to crash in stuff)I will take you all out for drinks, on me…

Categories: Real Estate
By girlshatebrian | 01/13/2009 10:08 AM | Comment