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Old 10-12-2020, 12:48 PM
 
15 posts, read 11,836 times
Reputation: 11

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After 5 years, I recently had the pleasure of being contacted to view an available apartment, but I wasn't at the top of the list. Hopefully, with some good fortune, I am actually the one called to purchase the property.

Some people would be grateful to know that they are high up on the list, others may consider it a slap in the face.

Anyone have any insight on why you would be called to view an apartment even though you aren't the next one up on a Mitchell Lama waitlist? Maybe to make the process faster if the first folks up refuse?
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Old 10-12-2020, 12:57 PM
 
1,399 posts, read 891,728 times
Reputation: 2018
They call numerous people at a time for viewings. Often times the waiting times are decades long. People move, financials change etc. Theyll have two available apartments are run through five numbers to fill them.

Congrats and if I may ask which building?
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Old 10-12-2020, 03:28 PM
 
1,486 posts, read 989,013 times
Reputation: 1507
Quote:
Originally Posted by nyscrappy View Post
After 5 years, I recently had the pleasure of being contacted to view an available apartment, but I wasn't at the top of the list. Hopefully, with some good fortune, I am actually the one called to purchase the property.

Some people would be grateful to know that they are high up on the list, others may consider it a slap in the face.

Anyone have any insight on why you would be called to view an apartment even though you aren't the next one up on a Mitchell Lama waitlist? Maybe to make the process faster if the first folks up refuse?
With ML they will show you "AN apartment but it may not be "thee" apartment thats actually up for purchase. Make sure you confirm as they may show you the one with the nice view then end up giving you the one with a bad view.
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Old 10-12-2020, 04:29 PM
 
15 posts, read 11,836 times
Reputation: 11
Quote:
Originally Posted by Llol45519 View Post
They call numerous people at a time for viewings. Often times the waiting times are decades long. People move, financials change etc. Theyll have two available apartments are run through five numbers to fill them.

Congrats and if I may ask which building?

Aw, I'm hoping for River Terrace. Thanks for clarifying, at least if nothing comes out of this it won't be another 1+ years before I just give up on nyc. I'm now realizing ML is a blessing for lower middle class.
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Old 10-12-2020, 04:53 PM
 
1,399 posts, read 891,728 times
Reputation: 2018
ML is a blessing for anyone who qualifies. I think max income is around 180k
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Old 10-13-2020, 04:32 AM
 
4,757 posts, read 3,365,740 times
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It's a nice area. I like how they beautify the place.
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Old 10-13-2020, 10:51 AM
 
6,147 posts, read 4,514,052 times
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Quote:
Originally Posted by Llol45519 View Post
ML is a blessing for anyone who qualifies. I think max income is around 180k
Max when I was there was 170k, but that's to stay in, not to get in. To get in, you have to be legit on the income guideline.
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Old 10-13-2020, 11:12 AM
 
1,399 posts, read 891,728 times
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I don't think they kick you out if you start making more money. You just pay a penalty fee until you hit market rate. Don't quote me on that.
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Old 10-13-2020, 11:38 AM
 
34,088 posts, read 47,285,846 times
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Quote:
Originally Posted by Llol45519 View Post
I don't think they kick you out if you start making more money. You just pay a penalty fee until you hit market rate. Don't quote me on that.
It's called a surcharge, and it can go as high as 50% of your maintenance.
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Old 10-13-2020, 02:36 PM
 
1,399 posts, read 891,728 times
Reputation: 2018
Sweet. You get maxed out and it's still a steal.
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