Students with a background in real estate will learn the intricacies of a "due diligence" inquiry necessary to evaluate if a particular cooperative or condominium building is financially sound and well-managed. Covered topics will include financial statements, the importance and contents of a pre-contract "cooperative or condominium" questionnaire to be completed by the managing agent, the review of Board minutes, purchase and leasing requirements and timing issues, costs and fees, "quality of life" issues (ie-house rules, pet policies, common area usage, etc.) and building-related bank underwriting issues in the current mortgage market.
PREREQUISITE: Permission of instructor
TEXTBOOK: None
4 CE hours