Buying & Selling Tips

Why should you work with us?

Searching for a place to call home amidst the bustling energy of New York City can be both exhilarating and overwhelming. The NYC real estate market is unlike any other. Our agents possess an unparalleled wealth of knowledge about the local market, ensuring you receive the most accurate and up-to-date information. They are your trusted advisors, guiding you through the process with a personalized touch. Picture your agent as your beacon of knowledge, illuminating the complex paperwork and unique procedures that define the New York City real estate landscape. Negotiating in the competitive NYC market requires finesse and strategic skill. Our agents are seasoned negotiators who will work diligently to secure the best deal for you, whether you’re buying a condo, a co-op, townhouse, or an investment property. Our commitment doesn’t end when you sign the contract. We’ll be with you every step of the way, from finding the perfect property to closing the deal. Our goal is to make your transition into your new home as smooth as possible.

Talk to our agents to start the process!

By choosing to partner with us, you gain access to a network of connections and resources that are second to none. Working with our real estate agents is not just a transaction. It’s a partnership built on trust, expertise, and a shared commitment to achieving your goals. Connecting you with great loan officers and attorneys is just one of the benefits of working with our real estate agents. Getting pre-approved for a loan before you start shopping for homes can put you in a strong position as a buyer. A pre-approval letter shows sellers that you are a serious buyer who is qualified to purchase a home. New York City is a unique market with its own set of lending guidelines and requirements.

Home Search

Your agent will be your guide, expertly assisting you in the process of narrowing down the various options. Finding the ideal apartment to suit your needs may take several months because it takes time to learn the differences between co-ops, condos, and new developments, along with their respective pros and cons. It's a significant financial decision, so it's understandable that it takes this long to make an informed choice. Co-ops represent a significant portion, comprising 75% of the NYC apartments.

Submitting an Offer and Signing the Contract

You decided to make an offer. Great! Your agent will guide you in crafting an offer that aligns with the market’s current conditions. Keep your phone close, as your agent will provide you with real-time updates on your offer and advise you on the next steps. Upon offer acceptance, a “deal sheet” will be sent to all attorneys, providing a roadmap for the contract negotiation process. Next, your attorney will facilitate a meticulous due diligence process to verify the building's financial health by reviewing essential building-related documents, such as board minutes and financial statements. You will then place a deposit, typically 10% of the purchase price, in an attorney-managed escrow account until closing. In New York City's fast-paced real estate market, prompt action is essential, as sellers may consider other offers until the contract is fully executed. Your attorney will prioritize the review process to ensure you can sign the contract promptly.

Board Package to Close

After the contract is fully executed, the formal mortgage process commences. Maintain consistent communication with your loan officer throughout the process. Additionally, the bank will schedule an appraisal appointment to validate the property’s value. Meanwhile, your agent will become your navigator through the intricacies of the board approval process. They will assist you in crafting a comprehensive board package, meticulously preparing you for the board interview (co-op) and act as a liaison between the management and you. The board has set an interview date! Receiving an interview date is excellent news. Your agent will provide comprehensive guidance on how to approach the interview. Once you receive the board approval (for a co-op) or a Waiver of a Right of First Refusal (for a condo), and the bank provides the green light with a clear to close, it’s time to take the final steps. Your agent will arrange a final walk-through, and attorneys will schedule a closing date. If you’re buying a townhouse or a multi-family property, there’s no board process. Once you receive a clear to close, your attorney will schedule a closing.