Frequently Asked Questions

Can international buyers purchase a co-op property?

International buyers can purchase a co-op property but it involves a more challenging process than buying a townhouse or condominium. Keep in mind that purchasing a co-op presents certain challenges for even a US buyer. Co-op Boards govern co-op buildings and every purchaser must pass their approval. Focusing on the best interests of the co-op members (shareholders), these boards set the policies and guidelines and make all vital decisions about each building.

It is beneficial to the members if purchasers are good neighbors and able to financially contribute to the upkeep of the building. To gain approval from most Co-op Boards, one must be employed in New York, have an exemplary US credit rating , and be able to present a US tax return. Co-op Boards are not legally required to explain their reasons for rejecting a potential buyer. Even if a foreign buyer gets approval, there are pros and cons to co-op ownership.