Considering Property History in NYC Purchases
How important is it to research the full history of a NYC apartment building before making an offer, beyond just the unit itself?
1 View
top of page
Swimming Israel
Public·769 members
bottom of page
How important is it to research the full history of a NYC apartment building before making an offer, beyond just the unit itself?
It can be crucial. Investigating the building's financial health, pending litigation, and history of major repairs can reveal hidden liabilities. For example, a low monthly maintenance fee might seem attractive, but it could signal an underfunded reserve and lead to a large special assessment after purchase. This due diligence helps avoid unexpected financial burdens.
For comprehensive guides on what to research, you can explore New-York.Realestate.