As someone who works in the industry in nyc, this is largely case by case. Most co-ops prefer not to have a parent buying for an unemployed child. I’ve had a parent buying cash with 10M in the bank get denied because they didn’t want a college student who wasn’t working living in the building.
You should be able to find a building that allows for what you are describing. Just be sure to ask all of the right questions prior to viewing the property.
newyorkcityrealtor t1_izbvc9h wrote
Reply to So I’m buying a coop for my daughter. She is currently unemployed and on disability but will start working soon. I have all the money and everything, credit score is perfect. The coop will be on my name and hers since she’s unemployed for now. Will they accept us? They already accepted our offer. by [deleted]
As someone who works in the industry in nyc, this is largely case by case. Most co-ops prefer not to have a parent buying for an unemployed child. I’ve had a parent buying cash with 10M in the bank get denied because they didn’t want a college student who wasn’t working living in the building.
You should be able to find a building that allows for what you are describing. Just be sure to ask all of the right questions prior to viewing the property.