all cash/ no mortgage co op

If you can only sell to an all cash buyer in the future you are limiting yourself. I bought all cash in bklyn heights a few years ago.as long as you have an income to support your other expenses the board will love you!

There’s no connection, per se, but several co-ops in Sunset Park don’t accept mortgages and don’t have one themselves because they were built by Finnish immigrants in the 1920’s and the Finns abhorred all forms of debt. However, it can still be challenging to get financing from a bank to purchase an apartment in the Finnish co-ops because most of them only recently began allowing bank financing and their paperwork is unorthodox, very old fashioned (and sometimes in Finnish!). Additionally, the co-op board may be inexperienced with the very concept of mortgages and how they work and don’t seem to understand what kind of paperwork the banks are looking for them to have.

But unless the building accepts mortgages in the future, you will also have to sell to a cash only buyer and those can be tough to find.
These buildings are definitely a great deal, but the potential profit is also lower, so it depends on how long you want to stay there I think.

What is the deal? I have bought two houses with cash. It isn’t much different. No mortgage. No closing costs. What is your concern?