Updated over 10 years ago on .
Coop rejected buyers
Sorry to ask this question on bigger pockets, but I think I need advice. Don't want to bother you with boring details but here is what I am looking at. I inherited 4 bed to 2 bath in Harlem NY. There is not mtg and I have not listed with an agent due to the cost and the ability of this apartment to sell its-self due to it's size. The coop just rejected what I thought was a qualified buyer and didn't give a reason why. This apartment has not been listed but through word of mouth people are submitting offers to the coop. I'm selling for $530,000. This is an income restriction 32 unit building. Don't quote this but I believe the income has to be less than120,00 for a family of 3 or 4 or something like that.. Now the apt is empty and if I sell the apartment the coop gets 15%, I get the rest. Should I get a Realtor? Keep in mind the maintenance fees are $1000 monthly, so each time a buyer gets rejected- only 1 for now, the past due maintenance fees build up and will cost against the sale of the apartment. The apartment inside is in Fair to poor condition that will need rehab but this place has old world styling. check it out 35 Mt morris park west... I can't put money into fixing it up because it doesn't mean I will get my money back because the board approved the buyer. I almost think the price is low. I need to find buyers that savings rich and income poor.