The fiscal chat: awkward, but necessary, Halstead agent says

Pre-qualifying customers is no small task for residential brokers, but avoiding an awkward conversation about finances can lead to disaster, according to Halstead Property sales and rental agent Michael Rovner, who wrote about the importance of a fiscal review between broker and client in the Post. While asking a buyer what he can afford could lead to an ego deflation, many co-ops and condos have increasingly rigorous restrictions for real estate shoppers, Rovner said. “Some buildings don’t allow mortgages, and others require owners to have two to three times the purchase price in cash after closing,” Rovner said of some co-op boards. [Post]