Purchasing

Finding a Unit to Purchase
  • Visit Redfin, MLSLI, or work with a real estate agent to find a unit to purchase.
  • Stony Hollow does not maintain a listing of units for sale.
  • Find an Attorney to assist with your purchase who is familiar with co-op sales.
 
 
BOARD OF DIRECTORS SHAREHOLDER APPLICATION CRITERIA
  • MINIMUM CREDIT SCORE OF 720 PER APPLICANT
  • MAXIMUM DEBT TO INCOME RATIO OF 35%
  • MAXIMUM FINANCING OF 80% OF THE SALE PRICE (exception for VA Financing)
  • MINIMUM ANNUAL INCOME OF FOUR (4) TIMES THE ANNUAL MAINIENANCE CHARGES
  • MUST BE OWNER OCCUPIED NO SUBLETTING IS PERMITTED
Only applications which meet the required criteria will be extended an online interview with the Board of Directors.
 
 
 
 
 
Pre-Purchase – After you have gone to contract with the seller of the unit you are purchasing
  • Complete and submit Purchase Application Packet – Available from Greenview Properties.
  • Attend Board of Directors Interview – Greenview will contact you with a date and time.
  • Approvals/Denials from Board of Directors are submitted to Greenview within 24 hours of the interview.
  • A pre-closing inspection will be completed by our Maintenance Office. Any deficiencies will be reported to the seller to be corrected before closing.
  • Closing – Arranged by sellers, buyers, and the cooperative’s attorneys
  • Request Mailbox Key from former owner – the United States Postal Service maintains our mailboxes and we do not have duplicate keys.
  • Get the former owners Prospectus. Paper copies are available from the management company for a charge of $100.
  • Closings are usually held at Felberbaum, Halbridge, & Wirth.
 
 
Post Closing
  • Contact our Maintenance Office to complete your Security Profile.
  • Parking Permits and Gate RFID Tags will be issued by Maintenance.
  • Verify that Maintenance has a key to your unit – we need this to enter in case of Emergencies.
  • Apply for the New York State STAR Tax Rebate Program.
  • Contact Altice/Optimum to arrange for the Bulk Cable Rate and Service Installation.
  • Provide our property manager with a copy of your Insurance Policy.
 
 
Moving into your New Home
  • You may move in seven days a week between 8AM and 8PM.
  • We recommend moving in on a weekday between 10 and 3 as more parking may be available for large moving trucks.
  • Leave adequate time to be completed with your move by 8PM. Do not show up at 7:30PM to begin your move in.
  • Moving Pods or Containers are not allowed on Property.
 
 
Unit Renovations
  • Please complete a Construction Application for Kitchen or Bath Renovations and allow 5 to 10 business days for approval.
  • Follow House Rules regarding construction hours and disposal of construction materials. Dumpsters may not be left on property overnight – same day drop off and pickup is required. Any Dumpster left on property overnight will be fined $250 per day.