How Buyer Due Diligence Works in NYC Real Estate
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Running a co-op or condo board in New York City isn’t easy — and one of the biggest challenges is avoiding disputes that can escalate into costly litigation.
Co-op/Condo board members are volunteers, says Scott M. Smiler, a partner in Gallet Dreyer & Berkey’s Cooperative & Condominium and Real Estate practices. They don’t get paid, but that doesn’t stop neighbors from bombarding them with complaints about everything from quality-of-life issues (including “the dog is barking too loud” letters) to managing major capital improvement projects for their buildings.
So, how can co-op and condo boards minimize risk, prevent misunderstandings, and keep their buildings — and themselves — out of court?
Hear more from Scott about working closely with Boards to identify potential issues early and resolve them before they turn into lawsuits in this video.