i'm gonna be screwed arent i?....

so we're set to close on buying a home this month, but the coop we live in now still hasnt been sold and we're selling it at a LOSS ..I cant do two mortgages!!!...someone please buy our coop! its really nice!!!!

i'm gonna be screwed arent i?....

Wow - I'm in the same situation as well. Are you able to rent it out to cover the cost?

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Re: i'm gonna be screwed arent i?....

i'm thinking about having it listed as a rental too....but I would just break even...but the thinkg i'm worried about is the tenant messing the place up or not paying!

what are you doing?

Re: i'm gonna be screwed arent i?....

we are in a coop as well where you can't rent. We are listing soon and I am not even going to make an offer on a house until we have a buyer for our place bc I dread having my heart set on a house and then having it fall through bc cant sell our place.

So sorry you are going through this

Re: i'm gonna be screwed arent i?....

Posted by DiamondGirl



we are in a coop as well where you can't rent. We are listing soon and I am not even going to make an offer on a house until we have a buyer for our place bc I dread having my heart set on a house and then having it fall through bc cant sell our place.

So sorry you are going through this

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Where are your coops located? And how many bedrooms? Do you two have any links to the coops to view?

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Message edited 1/25/2013 1:06:45 PM.

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I LOVE Bayside...your coop is very nice, but we do need a 2 bedroom :(

I am going to pass this around to my coworkers some of them might be interested.

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Thanks! Bayside is great, we are just steps away from they grocery, cvs and Dunkin donuts (which isn't always a good thing)

The bedroom is very big as you can see it can easily fit a queen bed and a crib and dressers


Please do pass on this info to your coworkers!

Thanks again!

i'm gonna be screwed arent i?....

Is it showing? Are these the pics on mls?
If I can sugest something with out pissing anyone off. Declutter.
Your living room looks really tiny with all the stuff in it, gates, toys etc.
I would also move your bed under the window and away from that dresser, again it makes it look smaller with those bug pieces next to each other. Could you get a smaller dining room table, or remove the leaf and center it with maybe 2 chairs instead?

Just some ideas, good luck.

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I agree that you can't keep it like a museum, esp. when you have young kids.

But I sell a lot of co-ops and one thing that is always an issue or a concern for buyers is adequate storage. So if you can pare down closets, pack some things away for later, remove items from top of the fridge, etc....anything to give at least the illusion of having ample storage, it really helps to sell your unit.

I would worry less about making major changes with furniture, but you can do some easy fixes (like take all the magnets and stuff off the fridge) to reduce visual clutter (and make the space more neutral and generic, which is a good thing...).

In my experience, with the co-ops, it's really all about the PRICE. Having it show well and paring down the clutter may make it sell a little faster than a comparable unit at a comparable price. Price is always a big factor in selling any home, but esp. with co-ops and condos - buyers tend to view co-op units as commodities (since there are usually just a few models in any given complex, so the unit is not necessarily unique). And most people don't put as much emphasis on updates in rooms like kitchens and baths, because they are usually a smaller project to tackle in a co-op. So my best advice would be to make sure you are positioned well, price-wise, for the current market.

Also, if you are open to renting (I think this was raised on another thread), you can always talk to your agent about the possibility of listing it both for sale and as a rental with option to buy. If you rent to someone with the option to buy (at the end of the year or whatever, assuming your co-op allows rentals), it may alleviate some of your fears about having a tenant (since the tenant will have somewhat of a vested interest in keeping the unit in good condition, paying rent on time, and generally keeping a good relationship with you). There are many ways to structure a rental with option to buy... it can simply be that the renter has the first chance to purchase the unit, before it goes on the market, or it can be that the rental payments (or part of them) will be credited back toward closing costs, or down payment or something like that. Definitely ask your agent!

Re: i'm gonna be screwed arent i?....

We are in the same situation right now. We want to buy a house but I don't want the two mortgages. Right now we are getting to move into my parents house so we can paint and get this place ready to put on the market. We want to do the rent / buy option so that we get more traffic in here.

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I am in the paying 2 mortgages position.

I had a buyer for my co op in long beach and put an offer in our current house. My buyer didn't get a mortgage and the deal fell through.

I finally got another buyer and was so close to closing and hurricane sandy destroyed long beach and my buyer freaked out and backed out.

Back to square one! I feel your pain!

Good luck!

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Posted by allIwant

I am in the paying 2 mortgages position.

I had a buyer for my co op in long beach and put an offer in our current house. My buyer didn't get a mortgage and the deal fell through.

I finally got another buyer and was so close to closing and hurricane sandy destroyed long beach and my buyer freaked out and backed out.

Back to square one! I feel your pain!

Good luck!

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Posted by jennyal

Posted by allIwant

I am in the paying 2 mortgages position.

I had a buyer for my co op in long beach and put an offer in our current house. My buyer didn't get a mortgage and the deal fell through.

I finally got another buyer and was so close to closing and hurricane sandy destroyed long beach and my buyer freaked out and backed out.

Back to square one! I feel your pain!

Good luck!

UGHHH!!! sorry to hear! its just so frustrating i'm sure!