If you decide to renovate your apartment, there are 3 main items that will add value and increase the sales appeal.

1) New Floors - the most economical change that yields the biggest results in terms of return on investment. Floors set up a feeling and tone as a prospect comes into the apartment.

2)...

1) Ownership:

Condo = Fee Simple Title for the apartment

Coop = You own shares within the corporation

2) Approval Process:

Condo = condo board signs waiver of first right of refusal, no board approval

Coop = coop board interviews applicants and then decides based off...

There is no board approval with a condo apartment purchase. What the condo board will issue is a "waiver of first right of refusal", which says the board waives the condo's right to match the offer to purchase the unit. This is generally never a factor in the purchase as it is extremely rare for...

Coops typically are a poor choice for an investors because of the subletting rules present. The subletting rules vary by building so you would need to find a build that allows:

a) unlimited subletting

b) does not have an occupancy period before you can sublet

These types of coops...

You have accepted an offer for the sale of your apartment, loft or townhouse. What happens next?

1) A deal sheet is put together. The buyer fills in his/her info & attorney info and then you will add your info & attorney info and all contact info for the building management. This deal...

For Coops:

1) Debt to income ratio: In general you want the prospects debt to income ratio (apartment carrying costs vs gross salary) to be 30% of less. Buildings vary so you want to check with your managing agent or a board member if they have set formula.

2) Post Closing Liquidity:...

When selling your apartment or loft you will need to get an offering plan before you begin the process.  There are a some points in the Condo offering plan that can help your sales efforts.

1) The Schedule A - this is the list of all the apartments that were listed for sale on the sponsor...

1) Find out account manager for the building (manages the building). You want their name, phone number and most importantly email address. It is usually easier to get responses via email.

2) Find out transfer agent for the building (handles the sales process/closings for building). You want...

a) Staging and preparing your residential space for sale - Interior (create a clean and natural appearance).

b) Make minor repairs such as: paint walls neutral colors, replace counter tiles, fix leaky faucets, fix doors, etc…(Ask a friend to evaluate your home to see what their opinion is...