Get 2 months of free community web site hosting from Community123.com!
Monday, January 27, 2020
Get 2 months of free community web site hosting from Community123.com!
Only members have access to all features.
Click here to join HOATalk for Free! Members click here to login and access all features.
Subject: Moving to another condo in the same building/community: feasible?
Prev Next
Please login to post a reply (click Member Login on the menu).
Author Messages
PaulJ6
(New York)

Posts:579


01/11/2020 6:28 AM  
I'm finally moving and am buying a condo in a large building with about 175 units in it.

Question: Is it generally feasible, and does it happen, for people who own small condos in a building (or community) to move to larger condos in the same building or community?

The place I'm buying is bigger than I need, so if a smaller place in the same building ever becomes available, I'd like to trade: someone with a smaller place would buy my larger one, and I'd buy the person's smaller place. I recently sold a condo to someone in a "for sale by owner" transaction, which saved a lot of money, and I'd like to do the same. Otherwise a 6% real estate commission would be pretty steep.

But I am told that some HOA boards make it difficult for moves within the same community or same building: buy why?

Thanks.

KerryL1
(California)

Posts:6817


01/11/2020 9:16 AM  
We're a 19 y.o. 200+ unit urban high rise. After year off before which I was on the board for 12 years, I'm back on the board.

We've had owners of smaller units sell and buy larger units in our building. We've had owners of a unit buy the one next door and combine the two with proper ARC changes approved.

Why in the world would a board "make it difficult" for the above to occur??? HOW could a board make it difficult?

CathyA3
(Ohio)

Posts:667


01/11/2020 11:47 AM  
Posted By KerryL1 on 01/11/2020 9:16 AM


Why in the world would a board "make it difficult" for the above to occur??? HOW could a board make it difficult?





I think there are co-ops that allow boards or others to vet potential buyers. But this has to be in the governing documents.
KerryL1
(California)

Posts:6817


01/11/2020 12:13 PM  
Ah, maybe a co-op, but I think Paul would have told us that. I think he would have told us what's in the docs too.

But, good to know. We've also seen poster here from FL where boards or others can vet prospective buyers.
KerryL1
(California)

Posts:6817


01/11/2020 12:13 PM  
Ah, maybe a co-op, but I think Paul would have told us that. I think he would have told us what's in the docs too.

But, good to know. We've also seen poster here from FL where boards or others can vet prospective buyers.
GenoS
(Florida)

Posts:3495


01/11/2020 12:45 PM  
Posted By KerryL1 on 01/11/2020 9:16 AM
Why in the world would a board "make it difficult" for the above to occur??? HOW could a board make it difficult?

Such is life on Central Park West, I guess. Where is this, The Dakota? I don't understand the question or what's otherwise implied.
PaulJ6
(New York)

Posts:579


01/11/2020 3:10 PM  
It's a large and relatively new condo building in Manhattan.
KerryL1
(California)

Posts:6817


01/11/2020 6:21 PM  
So, Paul, if there are no restrictions in your docs, and the board has no power to reject new buyers, HOW would they go about keeping you from selling your unit and buying another in your current HOA? HOW could the board do this? Where did you hear such a story?
PaulJ6
(New York)

Posts:579


01/12/2020 3:45 AM  
Posted By KerryL1 on 01/11/2020 6:21 PM
So, Paul, if there are no restrictions in your docs, and the board has no power to reject new buyers, HOW would they go about keeping you from selling your unit and buying another in your current HOA? HOW could the board do this? Where did you hear such a story?




After dealing with my current board- which put in cameras near the apartments of people who they didn’t like, to monitor them with both video and audio recordings (which is illegal), and which makes up all sorts of arbitrary rules that are now allowed under law or the governing documents, I don’t have confidence in boards to run things fairly or in accordance with governing documents. And I was told by some people that some boards don’t want to allow moves (not my new building specifically or condos specifically, but NYC boards generally). None of this makes sense to me so I thought I’d ask.

But thank you for the reassurance: what you’re saying is what I hoped to hear.
NpS
(Pennsylvania)

Posts:3987


01/12/2020 6:15 AM  
NYC has a high concentration of co-ops.
Many don't know the difference between a co-op and a condo.
If you're hearing stories, it's probably from people who live in co-ops.

Sikubali jukumu. Read all posts at your own risk.
PaulJ6
(New York)

Posts:579


01/12/2020 9:54 AM  
Posted By NpS on 01/12/2020 6:15 AM
NYC has a high concentration of co-ops.
Many don't know the difference between a co-op and a condo.
If you're hearing stories, it's probably from people who live in co-ops.




Good news. Thank you!
SheliaH
(Indiana)

Posts:2882


01/13/2020 12:08 PM  
I’m sorry for the experience you’ve had in your building, but really Paul, you need to stop generalizing! As NpS said, there are lots of co-ops in New York City – have you checked out each and every one of their boards to come up with your conclusion? If not, learn from this experience and good luck to you in your new building. If the board you're dealing with is as vindictive as you say, trust me when I say karma has them in her sights - you may never learn when or how. but what goes around really does come around.

PS – I subscribe to the Sunday New York Times and the Jan. 12 edition had an article on co-op board members, what prompted them to run and what they’ve learned. Take a look at it – you may become hopeful (or more cynical, in which case, maybe you should just buy your own single family home and be done with it)
PaulJ6
(New York)

Posts:579


01/13/2020 1:46 PM  
SheilaH, thank you very much; I'll take a look at the article.

This time I've learned my lesson and am doing a condo. I am also never, ever attending an annual meeting or having anything to do whatsoever with building governance. I'm wiping my hands clean of all of it.
Please login to post a reply (click Member Login on the menu).
Forums > Homeowner Association > HOA Discussions > Moving to another condo in the same building/community: feasible?



Get 2 months of free community web site hosting from Community123.com!



News Articles Provided by: Community Associations Network
News, articles and blogs about condos/HOA's

Only members have access to all features.
Click here to join HOATalk for Free! Members click here to login and access all features.







General Legal Notice:  The content of forum messages are from the posting member and have not been reviewed nor endorsed by HOATalk.com.  Messages posted by HOATalk or other members are for informational purposes only, are not legal or professional advice and do not constitute an attorney-client relationship.  Readers should not act upon this information without seeking professional counsel.  HOATalk is not a licensed attorney, CPA, tax advisor, financial advisor or any other licensed professional.  HOATalk accepts ads from sponsors but does not verify sponsor qualifications nor endorse/guarantee any sponsor's product or service.
HindmanSanchez Legal Notice:  (For messages posted by HindmanSanchez) This message has been prepared by HindmanSanchez for informational purposes only and does not constitute legal advice. This information is not intended to create, and receipt of it does not constitute an attorney-client relationship. Members of HOATalk.com should not act on this information without seeking professional counsel. Please do not send us confidential information unless you speak with one of our attorneys and get authorization to send that information to us. If you wish to initiate possible representation, please contact an attorney in our firm. Our attorneys are licensed to practice law in the state of Colorado only.

Legal Notice For Messages Posted by Sponsoring Attorneys: This message has been prepared by the sponsoring attorney for informational purposes only and does not constitute legal advice. This information is not intended to create, and receipt of it does not constitute an attorney-client relationship. Readers of HOATalk.com should not act on this information without seeking professional counsel. Please do not send any sponsoring attorney confidential information unless you speak with the sponsoring attorney or an attorney from the sponsoring attorney’s firm and get authorization to send that information to them. If you wish to initiate possible representation, please contact an attorney in the firm of the sponsoring attorney. Sponsoring attorneys that post messages here are licensed to practice law in a specific state or states as indicated in their message signature or sponsor’s profile page. (NOTE: A ‘sponsoring attorney’ is an attorney that is a HOATalk.com official sponsor and is identified as such in the posted message or on our sponsor page.)

Copyright HOA Talk.com, A Service of Community123 LLC ( Homeowners Association Discussions )   Terms Of Use  Privacy Statement