While condos cannot "reject" you like co-ops (they only have a Right of First Refusal), you must still submit a comprehensive financial application.
Your attorney reviews the condo’s offering plan, financial statements (looking for "red flags" like pending litigation or low reserves), and board minutes. buy condo new york
Buyers should budget for significant transaction costs, including title insurance and a Mansion Tax of 1%–3.9% for properties over $1M. While condos cannot "reject" you like co-ops (they
This is roughly 1.8%–1.925% of the mortgage amount, a cost unique to real property purchases like condos. This is roughly 1
Can lead to "Special Assessments"—sudden, large bills for repairs like elevators or facades.
A vacant lot nearby might mean years of construction noise and a permanent loss of your unit's sunlight or views. Best Manhattan Neighborhoods to Buy a Condo (2026 Guide)
According to Kishner Legal P.C., the timeline typically spans 60 to 90 days from offer to closing: