Anyone buying condo/coop in NY?

[cak]

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I was just wondering if anyone who matched in NYC is looking to buy or has bought a condo or a coop...I have been preapproved for a 100% physician loan, but buying real estate in NY, as I'm discovering, is very tricky.

Does anyone know if they require a large (20%) down payment even if someone has a 100% mortgage? What do condo/coop fees include? What is property tax like in NY?

I will probably be living in Brooklyn or the Lower East side.

Any info/advice would be greatly appreciated.

Thanks.

Chris

 

[edmadison]

Originally posted by cak
I was just wondering if anyone who matched in NYC is looking to buy or has bought a condo or a coop...I have been preapproved for a 100% physician loan, but buying real estate in NY, as I'm discovering, is very tricky.

Does anyone know if they require a large (20%) down payment even if someone has a 100% mortgage? What do condo/coop fees include? What is property tax like in NY?

I will probably be living in Brooklyn or the Lower East side.

Any info/advice would be greatly appreciated.

Thanks.

Chris

Be very careful about buying a condo/coop, many have huge maintainance fees. I looked at some places in Brooklyn that had fees of $1100/month!!!! Plus, they can often be quite difficult to sell.

Ed