Co op Closing Process Archives

How does the NYC FSBO closing process work for home owners selling without the assistance of a traditional listing agent? Read our step by step guide now!

How the NYC FSBO Closing Process Works for Home Sellers

By Sonja Gosine, Spokesperson at Hauseit® / January 22, 2020

The NYC FSBO Closing Process is surprisingly easy as long as you have accepted an offer from a qualified home buyer. Assuming that you have elected to sell via a Hauseit Assisted FSBO, you have already cleared the toughest hurdle to [...]

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Buying a coop in NYC can be a daunting process. What are the pros and cons of buying a coop apartment? When should you start working on the board package? What's the board interview really like? We take you step by step through the co-op buying process, from finding the perfect apartment to guidance for closing day.

The Complete Guide to Buying a Coop in NYC

By Sonja Gosine, Spokesperson at Hauseit® / January 22, 2020

Buying a coop in NYC takes around 3 months from the time you sign a purchase contract on an apartment. Co-op buyer closing costs are between 1% to 2%, which are much lower than the typical ~4% for condo apartments.

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What’s the difference between a coop foreclosure and a foreclosure on a house or condo? What is the co op foreclosure process? Do you need coop board approval?

A Coop Foreclosure Explained

By Sonja Gosine, Spokesperson at Hauseit® / November 7, 2018

A coop foreclosure happens faster than a traditional foreclosure on a condo or a house because court approval is unnecessary. Furthermore, coop board approval is not necessary for a coop foreclosure which can save months of time. Table of Contents:

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Submitting an all cash offer on a property in NYC offers a number of benefits including the possibility of a lower sale price, a discount and a quicker closing.

All Cash Offer NYC

By Sonja Gosine, Spokesperson at Hauseit® / October 31, 2018

Submitting an all cash offer on a property in NYC offers a number of benefits including the possibility of a lower sale price and a quicker closing. More importantly, an all-cash offer will usually put you at the front of

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All co-op buildings in NYC have renovation rules which must be followed. Rules for renovations and construction are covered in the co-op’s alteration agreement.

What Are the Typical Co-op Renovation Rules in NYC?

By Sonja Gosine, Spokesperson at Hauseit® / October 29, 2018

Thinking about buying a coop in NYC and renovating it? If so, it’s important to know that all co-op and condo buildings in NYC, both large and small, have renovation rules which must be followed. A co-op or condo building's

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Is it Worth Buying a Coop in NYC?

By Sonja Gosine, Spokesperson at Hauseit® / October 25, 2018

Buying a coop in NYC is the most affordable path to home ownership in the Big Apple. This is because co-ops can be up to 40% less expensive than comparable condo apartments. However, the answer to the question of is

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What is a real estate closing statement? What does a closing statement for an apartment purchase in NYC look like? What checks do I need to bring on closing day? We'll go through a sample real estate closing statement with you in this article and explain what you'll need to do before closing day.

Closing Statement for Real Estate Transactions in NYC

By Sonja Gosine, Spokesperson at Hauseit® / April 19, 2018

What is a real estate closing statement? What does a closing statement for an apartment purchase in NYC look like? What checks do I need to bring on closing day? We'll go through a sample real estate closing statement with

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What does co op board approval entail for NYC home buyers? When do you find out about coop board approval and who will hear about it first? We'll explain everything you need to know about the co op board approval process and even show you a sample co op board approval letter in this article.

Co op Board Approval in NYC Explained

By Sonja Gosine, Spokesperson at Hauseit® / April 17, 2018

What exactly does co op board approval entail for home buyers and sellers in NYC? When do you find out about coop board approval and who will hear about it first? We'll explain everything you need to know about the

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How should you go about preparing for the co op board interview? Read our time tested tips and advice from industry insiders who have seen it all.

Preparing for the Co op Board Interview in NYC

By Sonja Gosine, Spokesperson at Hauseit® / October 4, 2017

Congratulations for being in contract to buy a coveted New York City cooperative apartment! As the next step, you'll need to submit a purchase application and pass the infamous co op board interview in order to complete your purchase. There's

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How to Sell a Co-op Fast in NYC

By Sonja Gosine, Spokesperson at Hauseit® / November 28, 2016

Do you need to move or buy a bigger apartment? If time is of the essence, the following article will teach you how to sell a co-op fast in NYC. We'll show you how to sell your apartment quickly with

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