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We saw a 2BR co-op in a really nice location of Bayside that we really liked. It's for sale by the owner, so no agents are involved. They told us that the place was reduced from 144,500 to 139,000, but it's still negotiable. I think they are showing it to a couple of other people this week, so I don't want to lose it to seomeone else. How much lower should we make an offer for?
Windsor Oaks is a nice coop.. I have a couple who are looking to buy there but the 5 I've seen come up on MLS have had an offer put in within a second of it being posted! Good luck!
Can someone explain the story about co-ops. Can you rent them if you want to purchase a home? Do you need approval for that? And what is the difference between a co-op and a condo?
When you buy a co-op you are buying a share in a bldg. The co-op elects board members who usually interview people before moving in. They hire a managing agent to handle general managment of the bldg. When you buy a condo, you actually own the property and have a deed, that's why they are more $$ than co-ops. You don't get a deed for a co-op. Each co-op is different for renting rules. The bldg that I live in now allows owners to sublet/rent. Many of the places I've been looking at in Bayside don't allow you to rent your co-op. We were looking in Glen Oaks too, and they do allow you to rent after living there for a month. HTH
