Condo Board Package EXPLAINED | Condo Apartment Buying Guide in NYC?

[@SargisMosyan]

Email me at [e-mail] to book your FREE 30-minute one-on-one consultation if you are looking to buy, sell or rent in NYC or if you just have questions regarding NYC Real Estate.

[@avaramirez7777]

I actually was thinking half way through why would a condo need so much information and you answered the question.))) This is very helpful. Thank you

[@SargisMosyan]

You are so welcome!

[@elliewright214]

Thanks for clarifying

[@SargisMosyan]

You're welcome

[@stevenyoung8899]

I actually prefer coops. The requirement can be tough but you also have a lot more choice

[@SargisMosyan]

I agree in terms of having more options available.

[@stefanmiletic4292]

This is interesting

[@SargisMosyan]

Thanks. Let me know if you have any questions

[@haleemathompson5387]

So what about if it's a new development? Who reviews your board package?

[@SargisMosyan]

There is no board package if you are buying from the sponsor. You make an offer and you purchase your new development condo, as if you would buy a house. A lot of times the sponsor has just an information sheet that needs to be filled out, but it's not a board package. It is for them to know who is the buyer and who will reside in the apartment.

[@michaelmereday6791]

I just got certified with insurent company does that give me a edge

[@SargisMosyan]

If you are renting in a condo building, it is between you and the individual owner of the unit. If the unit owner approves your application, some condos board package might contain information regarding your guarantor service and some don't. Either way the building can ask for information but condos don't qualify the renters or buyers and condos cannot simply reject an application.
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