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Category: Can you Afford it?

Not All Assessments Are Bad Assessments

January 24th, 2011 — 9:23am

While conducting due diligence on behalf of clients in connection with co-op purchases, we have encountered situations where co-op corporations have instituted assessments on all of the tenants’ shares.  While the existence of most assessments can be telling concerning the overall financial health of a building, a yearly assessment to offset the building’s real estate tax abatement is a typical practice in New York City and not an assessment that should concern a potential purchaser. Continue reading »

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How much can you pay?

December 13th, 2010 — 4:47pm

Can you Afford it?: If you are not planning on an “all cash” deal meet a mortgage broker before you start the process and find out how much a lender would be willing to lend you and what the costs of the mortgage and the mortgage broker will be.  Don’t be shy to shop around when looking for a mortgage broker and try some banks that do direct lending.

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