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Old 02-02-2018, 01:53 PM
 
5 posts, read 1,390 times
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Originally Posted by nybklyn View Post
The restriction would be on the offering plan. If you are ever called to move on beyond interview, you will be giving an offering plan to reciew with an attorney. Everything is in the offering plan, and after reciewing it, you have certain number of days to decide whether to continue with the closing process or give up on this lottery.

I cant recall the restriction, but if I am not wrong, this specific building has permanent affordability restriction, meaning that you can never sell it at market price, and you have to sell it to people that fall in 120% AMI. I will double check on this with someone that I know, and I will come back to post an update.
You are full of knowledge, nyblyn!!
Is it hard to sell the apartment to people that fall in 120% AMI? In general, how long does it take?
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Old 02-02-2018, 09:31 PM
 
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Originally Posted by thankful108 View Post
You are full of knowledge, nyblyn!!
Is it hard to sell the apartment to people that fall in 120% AMI? In general, how long does it take?
I would say there are more than enough people fall in 120% AMI, and you can easily ask the marketing agent to help you find one. I am not sure how long it normally takes.
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Old 02-03-2018, 01:26 PM
 
5 posts, read 1,390 times
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thank you again! Hope you had wonderful weekend
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Old 02-28-2018, 07:44 PM
 
21 posts, read 12,620 times
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Quote:
Originally Posted by nybklyn View Post
I would say there are more than enough people fall in 120% AMI, and you can easily ask the marketing agent to help you find one. I am not sure how long it normally takes.


Do you think it will be difficult to sell to 120% AMI for more than $600,000 in future? I’m wondering if they can not afford the mortgage plus maintenance and taxes?
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Old 04-28-2018, 07:12 AM
 
Location: NYC
43 posts, read 140,982 times
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Is there a restriction on whether or not you could have previously purchased property? I don’t remember seeing that condition when I applied to this. I know alot of the newer lotteries mention that can’t have ever owned property before, but this one didn’t have that, I think.
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