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Jonsgirl04
Love my two girls! xoxo
Member since 9/08 6079 total posts
Name:
Stephanie
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Can I have your opinion on this co-op??
Me and Dh have been looking online at co-ops..Honestly I have heard the good and the bad about them. But I really do not know anything about them how they work. What do you think of this one?? Please be honest. Good deal or bad? What should I look for when searching? TIA
Co-op listing 
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Posted 10/18/10 11:24 AM  |
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Pray4Baby2010
<3 Cutest Giants Fan
Member since 10/09 5796 total posts
Name:
MB
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Re: Can I have your opinion on this co-op??
can you post the MLS number- the link didnt work for some reason
DH and I own a coop in Queens- we bought it 2 years ago and have been very very happy with our decision.
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| Posted 10/18/10 11:43 AM |
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SusiBee
. . . . .
Member since 3/09 8268 total posts
Name:
S
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Re: Can I have your opinion on this co-op??
It doesn't sound bad, especially because you have ammenities like tennis courts and a pool.
Some questions :
- how finacially secure is the cooperative ?
- does the cooperative hold a mortgage ?
- how often does maintenance increase ?
- how often are assesments charged ?
- are all the units owner occupied or is sub-letting permitted ?
- are gas and electric included in the maintenance ?
- will you need to have flood insurance because of the water ?
- is there an extra fee for the tennis and pool ?
- how's the parking ? Is there an extra charge ?
Just a couple off the top of my head.
I own a garden co-op in Queens and am on the board.
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| Posted 10/18/10 11:43 AM |
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Jonsgirl04
Love my two girls! xoxo
Member since 9/08 6079 total posts
Name:
Stephanie
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Re: Can I have your opinion on this co-op??
Posted by SusiBee
It doesn't sound bad, especially because you have ammenities like tennis courts and a pool.
Some questions :
- how finacially secure is the cooperative ?
- does the cooperative hold a mortgage ?
- how often does maintenance increase ?
- how often are assesments charged ?
- are all the units owner occupied or is sub-letting permitted ?
- are gas and electric included in the maintenance ?
- will you need to have flood insurance because of the water ?
- is there an extra fee for the tennis and pool ?
- how's the parking ? Is there an extra charge ?
Just a couple off the top of my head.
I own a garden co-op in Queens and am on the board.
Thank you for this info!! You rock!
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| Posted 10/18/10 12:41 PM |
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SusiBee
. . . . .
Member since 3/09 8268 total posts
Name:
S
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Re: Can I have your opinion on this co-op??
forgot one
- is there a flip tax or a move out fee ?
This is important because it means that when you sell, a percentage of your profit or a set amount will be turned over to the corporation.
Where I live, we have a hefty flip tax, but it keeps our base maintenance way down, and keeps the apartments from turning over new owners frequently.
I've owned mine for 12 years. There are still some original owners in my complex, which was built in 1953.
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| Posted 10/18/10 12:47 PM |
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creddy5
LIF Infant
Member since 8/09 158 total posts
Name:
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Re: Can I have your opinion on this co-op??
I owned a coop for three years and loved every second of living there until i moved out. I got through the board no problem but my buyer wasnt as lucky for some bs reasons. It was a nightmare but luckily the decison was overturned which rarely happens. If u can afford a condo id suggest going that route, unfortunately the bd holds the power with a potential buyer. Just something to think about..
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| Posted 10/22/10 9:33 PM |
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maybesoon
LIF Adult
Member since 9/09 5981 total posts
Name:
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Re: Can I have your opinion on this co-op??
Posted by Pray4Baby2010
DH and I own a coop in Queens- we bought it 2 years ago and have been very very happy with our decision.
DH and I have a coop in queens for 5 years. we are selling it now only bc we need more space, but have loved living here. so easy, great location, and low bills. we are buying a house and I'm really worried about how much work it's going to be (and money too!). I feel like if you buy in an area like queens you will always be able to sell. I'm not sure how the coop market on LI is though ?
my coop board is very laid back, but some are not. that is something to consider when buying (for when you want to sell) GL!!!
Message edited 10/22/2010 10:48:17 PM.
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| Posted 10/22/10 10:47 PM |
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