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Hi
I just received a letter from the big six towers.
In the letter it says please note (2) refusals on your part will result in the permanent removal of your application. What does that mean? Can I turn down the apartment now and go back on the waiting list.
I'm havin financial hardship right now and I do not have the 40k to purchase at this time. I'm going to call some of the federal cresit unions to see if I can join and take out a loan. If I received this letter last year I wouldn't have a problem. I have.
Hi
I just received a letter from the big six towers.
In the letter it says please note (2) refusals on your part will result in the permanent removal of your application. What does that mean? Can I turn down the apartment now and go back on the waiting list.
I'm havin financial hardship right now and I do not have the 40k to purchase at this time. I'm going to call some of the federal cresit unions to see if I can join and take out a loan. If I received this letter last year I wouldn't have a problem. I have.
Most ML co-ops allow you to turn down an apartment with out kicking you off the waiting list. You don't lose your place so you'd probably get the next apartment after so you don't have much time if your being offered an apartment now.
Best thing to do if you have credit is take out a personal Loan. Ask the sales office if they help with financing. Some MLs have a financing program. Co-op city for instance works with Citi bank and NYCB i think for financing.
If you choose to not take the apartment that has come up, then you go back on the list and must take the next one that comes up. If you don't take the second one then you are dropped from the waiting list.
Don't let this slip through your fingers, honey. You will never forgive yourself. Get the money...PERIOD. Beg your parents, BEG your siblings, BEG your children.
How long were you on the waiting list?
Last edited by Kefir King; 08-13-2017 at 09:06 AM..
three years! my and in the three years my mother passed away and now my father is on his death bed. i had job issues. If it was last year, I would have been ok.
The Big 6 Towers lists for 1 and 2 beds from the Q4 2014 lottery are moving insanely fast. We waited a little over 2 years before we were called. It took about a full 6 months to close from the time we were called to look at (and accepted) an apartment. To give you an idea of how fast things are moving, they are up to log numbers on the 2 bed list in the high 90s or low 100s now...and they just started calling people off the list starting at log number 001 a little over a year ago. Not everyone called gets in obviously, for a variety of reasons, but still...the list there is moving quicker than any other ML building I've ever seen
They're basically saying if you turn down one apartment, you have to accept the next one, or you're off the list. Refusing the first one to buy yourself some more time may not be a good idea, because chances are they have multiple 2 beds available, and if they don't and only show you 1, you'll be likely to get called again in like a month when another opens up. There are 7 buildings, filled with original geriatric tenants who are passing away and/or familys looking to transfer to something bigger...so there are apartments opening up.
The only saving grace is that - in my experience - it took a little over 6 months from the time we saw and accepted an apartment until we officially closed. It takes Big 6 like a month to process your paperwork, then the HPD approval can take like 3 months, then they need to get the apartment in rent ready condition before they turn it over to you. Things move slow. You don't need to produce the buy-in money until you pick up keys, but you should be prepared and start trying to piece the money together from any sources you possibly can think of (personal loans, family, friends, whatever...) because once they call to tell you that you're approved and set a date ...you gotta have things in order.
I hope and pray you can get everything together - if you're looking for a stable place to stay in for a long period of time anywhere in NY this is the deal of a lifetime. IT's a great development to live in, great area, easy to get into the city through a variety of ways, parking is decent believe it or not, etc... i could go on for ages on why it's awesome.
You could try to put the application on hold, but if you already got the letter to come in and look, it may be too late. Given how fast things are moving and you probably didn't expect to get called off the list for like 10+ years (we didn't) they may understand and put you on hold. But start thinking of every way possible to piece together the buy-in money TODAY.
The staff at big 6 is awesome though. Maybe go check out the building and check out the apartment and explain to the staff your situation. There is not a lot of flexibility and leeway they can give mostly because of board and HPD guidelines, but they could walk you through the process and put you at ease. Most of the apartments there have balconies... so you gotta factor that into the purchase price as well. I think they count that as a 'room' and it adds more to the cost. I wish I could remember what our exact purchase price was at time of closing, but all in it was closer to $50k than it was to $40k.... again though, the staff there is amazing. Catch them on a good day and hopefully they can put you at ease a little bit, because you do not want to lose this
Sorry to hear about your parents. Were they on your household composition for this apartment? For a 2 bed you have to have 3 people on there...
Last edited by waitlisted212; 08-15-2017 at 12:56 PM..
Im #120 on big six 2 bed list. What number do you think they are at. Housing connect obviously has wrong number. Also we are 2 ppl for 2 bedroom so you can get 2 bed with 2 people. Thanks for this info. Im hopeful!!
Im #120 on big six 2 bed list. What number do you think they are at. Housing connect obviously has wrong number. Also we are 2 ppl for 2 bedroom so you can get 2 bed with 2 people. Thanks for this info. Im hopeful!!
it says they are up to #120 on the 2 bed list last approved as of 9/28/17. You're number 120? You should call them to see whats going on. I'm not sure of your composition but I believe you need 3 people minimum for a 2 bed in mitchell lama
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