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Re: Logistics of 2 Family Home in the Heights
#1
Newbie
Newbie


Quote:

brewster wrote:
Quote:

karindiann wrote:
I'm part of a 4-unit condo association, and we have a bank account and pay our own bills -- no outside management company needed. Somebody has to volunteer to write the checks and do the bookkeeping (basically a thankless job).

In our association, all of the units have a slightly different square footage and pay a different percentage of common expenses. I think this would probably be true of a 2-unit building as well -- and give one owner more weight in the case of disagreement.

I remember the developer of our building had set up the association before the units were sold, which I assume is a requirement if you are selling condo units.


How do you maintain funds in the checking, and make sure everyone is complying? Is it like an escrow where you keep it above a certain level?


I'm not a lawyer (or the original poster), but from my own reading a couple years ago:
-If you establish a Condo Association (CA), you establish what services the CA is to perform and you collect appropriate fees.
-There are different ways to calculate the funds you want to keep in reserve depending on what falls under the umbrella of responsibility for the CA. (if it is just normal maintenance or if the CA is also responsible for the roof or HVAC). If a CA is underfunded, your appraisal could be negatively affected.
-While not usually escrowed, if CA fees are not paid, a property could be put in foreclosure, but on a 2-unit property any kind of legal fight might wipe out all the funds and leave both owners on the hook to replenish the CA.

Posted on: 4/12 11:00
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Re: PATH-Weary Jersey City Wants to Build a Pedestrian Bridge to Manhattan
#2
Newbie
Newbie


Quote:

brewster wrote:
I love Science Fiction. But even in SF there's COST/BENEFIT ANALYSIS!! This kind of nonsense where an idea is presented with zero externalities, including cost, leads people to fuzzy thinking, that all ideas are equal, there simply are no stupid ones. Not true, there are stupid ideas. This is one of them.

And even in post-scarcity futures where cost is no object, other people's opinions of what to do with public spaces still do. (read Corey Doctorow's "Down and out in the Magic Kingdom", where volunteers in a post scarcity world battle each other over renovations at WDW.)


In the context of embracing wild ideas, the issue is the if an idea is too wild, people get turned off of that line of thinking. It's easy to just throw up an idea "line connecting points A and B", but the better thing would be to throw an idea that was attuned to the realities of the time with, as brewster stated, a cost/benefit analysis. A multi-disciplined approach would at least provide the starting point for a debate that could possible be fine tuned and implemented.

Posted on: 2016/7/6 0:52
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Re: Realtor Playing Games with Full Price Offers? Help!
#3
Newbie
Newbie


Quote:

karindiann wrote:
You need to engage a buyer's agent who can explain the realities of the current market. This is a seller's market, and many properties listed for sale in JC are going above asking price. The listing agent's job is to obtain the best possible price for the seller, and that often means waiting until several offers come in on the property (not just accepting the first offer). The seller has no obligation (legal or otherwise) to accept the first offer they receive, even if it is at asking price. It's not a game -- it is just the reality of the market right now. When there are multiple offers the listing agent will ask all potential buyers for their "highest and best" -- giving you a chance to bid against the others. When you are given this opportunity, raise your offer and you have a chance to get the property if you are the highest bidder. Again -- a buyer's agent can really help you navigate this kind of market.


Just to add to this, though (I believe) the listing agent is required to present all offers to the seller, I don't think there is any reason they wouldn't say "I know this is asking price, but let's get some more offers and then put a rest for 'best and final'".

Posted on: 2016/7/6 0:01
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Re: ParkMobile
#4
Newbie
Newbie


And Newark. But in Newark you get charged an additional $0.25 per transaction.

Posted on: 2016/6/20 17:24
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Accident in front of Second Street Bakery - Info Needed
#5
Newbie
Newbie


I got home today at about 4 PM to find that my front bumper was taken off my car (a Grey Accord) and the cover of the driver's side mirror broken. I was parked about 20 feet away from the front of Second Street Bakery. Of course, the individual was not decent enough to own up to their error. If anybody has any information about the situation, it would be greatly appreciated.

Posted on: 2009/12/11 16:28
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Police activity outside Jordan's Lounge - 10/10/09 @ 2:30 AM
#6
Newbie
Newbie


There seems to be significant police activity outside of Jordan's Lounge - about 10-15 patrol cars parked down Newark Ave. Any info on what happened?

Posted on: 2009/10/10 2:52
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