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adviceplease
LIF Infant
Member since 2/06 136 total posts
Name:
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Co-op help
Hi all.
I am starting my search for a co-op for myself. Technically, I can't buy until I sell me home, but I want to start looking now and see if I can work with something.
I need suggestions/opinions. Should I work with a realtor to find a place? How much will that cost me? I am kind of strapped for money now but if it will be easier, maybe it will be worth it.
Also, can I just go to and office at a co-op and inquire about any open units?
TIA.
Ah!  
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Posted 6/26/06 5:12 PM  |
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MrsERod
Praying for Everyone.
Member since 5/05 26170 total posts
Name:
MrsERod™®
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Re: Co-op help
it would cost you a whopping $0
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| Posted 6/26/06 5:15 PM |
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adviceplease
LIF Infant
Member since 2/06 136 total posts
Name:
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Re: Co-op help
Posted by MrsERod
it would cost you a whopping $0
Really? 
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| Posted 6/26/06 5:17 PM |
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BabyBoy
is Skylar Elizabeth
Member since 5/05 4189 total posts
Name:
Tom
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Re: Co-op help
when you sell property, it will cost you...
when a realtor works for you, techincally (and i could be wrong) your realtor and the selling realtor agent will split what that person would of gotten
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| Posted 6/26/06 8:26 PM |
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My2Boys
Love.
Member since 10/05 4796 total posts
Name:
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Re: Co-op help
Realtors, on the whole, work for the seller and get paid by the seller. Unless you retain your own "buyer's broker", which is completely unnecessary in this market (IMO), you would then pay a fee.
Good luck!
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| Posted 6/26/06 8:50 PM |
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MrsERod
Praying for Everyone.
Member since 5/05 26170 total posts
Name:
MrsERod™®
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Re: Co-op help
Posted by BabyBoy
when you sell property, it will cost you...
when a realtor works for you, techincally (and i could be wrong) your realtor and the selling realtor agent will split what that person would of gotten
she's looking to buy, not sell.
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| Posted 6/26/06 9:29 PM |
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MrsERod
Praying for Everyone.
Member since 5/05 26170 total posts
Name:
MrsERod™®
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Re: Co-op help
Posted by My2Boys
Realtors, on the whole, work for the seller and get paid by the seller. Unless you retain your own "buyer's broker", which is completely unnecessary in this market (IMO), you would then pay a fee.
Good luck!
that's incorrect....
just as in most real estate transactions, the seller (or listing agent) pays the buyer broker fee, not the buyer.
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| Posted 6/26/06 9:31 PM |
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Palebride
I am an amazing bakist
Member since 5/05 13673 total posts
Name:
Lori
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Re: Co-op help
When we bought a co-op, we looked in the paper and online for available units in the areas we were looking and then called the RE Agents listed with the properites.
We worked with one agent for a bit, and she was lovely, but she didn't really find us anything worth buying, so we found one on our own.
Good Luck!
What areas are you looking to buy in?
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| Posted 6/26/06 9:56 PM |
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jenny
L O V E
Member since 4/06 2784 total posts
Name:
Mommy
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Re: Co-op help
You can start your search online. Also take a look in Newsday for any open houses. It would probably be good for you to see a lot of places then when you are ready you will know what you want.
Good Luck!
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| Posted 6/26/06 11:22 PM |
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BabyBoy
is Skylar Elizabeth
Member since 5/05 4189 total posts
Name:
Tom
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Re: Co-op help
Posted by MrsERod
Posted by BabyBoy
when you sell property, it will cost you...
when a realtor works for you, techincally (and i could be wrong) your realtor and the selling realtor agent will split what that person would of gotten
she's looking to buy, not sell.
i know..just explaining how they get paid when they work for you when buying
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| Posted 6/27/06 7:05 AM |
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My2Boys
Love.
Member since 10/05 4796 total posts
Name:
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Re: Co-op help
Posted by MrsERod
Posted by My2Boys
Realtors, on the whole, work for the seller and get paid by the seller. Unless you retain your own "buyer's broker", which is completely unnecessary in this market (IMO), you would then pay a fee.
Good luck!
that's incorrect....
just as in most real estate transactions, the seller (or listing agent) pays the buyer broker fee, not the buyer.
In *my* experience as a "buyer's broker", I had a signed agreement and I was paid by my customer. There were even a handful of transactions where I was paid by the client (seller) as well... after full disclosure, of course.
With respect to the transactions where I was not the exclusive agent, I represented the buyer and was paid only by the seller on a co-broke basis.
Message edited 6/27/2006 8:14:55 AM.
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| Posted 6/27/06 8:12 AM |
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lululu
LIF Adult
Member since 7/05 9511 total posts
Name:
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Re: Co-op help
My advice would be to get a realtor to look at properties that have been listed on MLS. Also, supplement your search with FSBO sites, craigs list, newspaper adds. Because FSBO are not paying a RE commission, sometimes you can get a little bit of a better deal.
What areas are you looking?
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| Posted 6/27/06 9:41 AM |
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adviceplease
LIF Infant
Member since 2/06 136 total posts
Name:
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Re: Co-op help
Thanks all for your information!
I'm looking to buy in central or eastern Nassau. I want to start now, because I know co-op boards can sometimes prolong the process as well.
Cross your fingers for me for selling my house as well! If anyone is interested, I will be able to share photos of my home soon as well.
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| Posted 6/27/06 9:53 AM |
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lululu
LIF Adult
Member since 7/05 9511 total posts
Name:
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Re: Co-op help
Good luck in your search and I will keep my eyes open for anything in that area for you!
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| Posted 6/27/06 10:03 AM |
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anjerandunder
Positive thoughts worked!!!
Member since 6/06 1909 total posts
Name:
J
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Re: Co-op help
good luck on your search. we would have had to pay a commission to the broker if we sold through them and no commission if we bought through them. 
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| Posted 6/27/06 10:12 AM |
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