Co-op boards look at debt-to-income ratio, liquid assets after closing, employment stability, and references. Most boards want to see a debt-to-income ratio under 28% after the maintenance payment, and liquid assets equal to one to two years of maintenance remaining post-closing. We review your financials before you make an offer so you know where you stand before investing time in a building that will not approve you.

When you buy a condo, you own the unit and a proportional share of common areas. When you buy a co-op, you own shares in a corporation that owns the building. Co-ops are typically 15 to 25 percent cheaper than comparable condos because the board approval process reduces the buyer pool. The trade-off is less flexibility to sublet and a more involved purchase process. Which makes more sense depends on your finances, timeline, and plans.

We pull every comparable sale in a six-block radius from the past 90 days, weight by square footage and condition, and adjust for floor, exposure, and building financials where applicable. We show you the math. If you disagree with the number we come to, we want to hear your reasoning. Overpricing is the most common seller mistake we see. A home that sits for 60 days starts looking like it has a problem, even if it does not.

Yes, and this situation is more manageable than most buyers fear. We help you understand the timing, look for gap financing options where they apply, and coordinate the two transactions so you are not paying two mortgages or living out of a hotel. The key is knowing your numbers before you start and not making an offer to buy until you have a firm buyer for what you are selling.

Park Slope, Prospect Heights, Crown Heights, Gowanus, Windsor Terrace, and Boerum Hill. We do not list in Carroll Gardens, Williamsburg, or Greenpoint. Those markets have different dynamics and we would be guessing. If you are looking in those areas, we will tell you and refer you to someone who knows them.