In this COVID-19 era, a pocket of NYC real estate has heated up: new condos with private outdoor space. According to Marketproof New Development research, buyers are paying the premium to get larger units with...
Category - Buyer’s Guide
Navigate the complex and nuanced world of NYC real estate with Marketproof’s Buyer Guide. We’ll give you everything you need to be your own real estate expert!
marketproofHow to buy off-market new development condos in NYC
In today’s market, if you know how to approach a condo developer’s sales agent, you can purchase off-market properties at potentially great discounts while also getting closing costs paid. In this post...
NYC Mansion Tax: Here’s what you need to know
Welcome to NYC’s 2019 mansion tax. The original mansion tax was created in 1989 by Gov. Mario Cuomo. It was a flat 1% statewide tax on homes that sold for $1 million or more. The 2019 mansion tax was signed in to law by...
Pros and cons of buying directly from a listing agent in NYC
Conflict of interest is the main issue at stake when one agent represents both the buyer and seller in a real estate transaction in NYC. It is a term known as ‘dual agency’. How do ‘dual agency’ transactions arise...
From offer to close in NYC: A step by step guide
In New York City, where real estate prices and stakes are high, the closing process is complicated and emotions can flare. Here is a step by step guide to help you keep calm as you navigate from making an offer on a...
NYC Housing Types: single-family, multi-family, condo, and co-op
In NYC, like in many places, there are four main housing types to choose from: single-family, multi-family, condominium, and co-op. Unlike the rest of the country, in NYC each housing type is extremely nuanced with a...
A condo offering plan: All you need to know
A condo offering plan is a disclosure document that lays out the terms under which a sponsor offers to sell you a condo (or parking space or storage bin). An offering plan is written by attorneys that specialize in this...
Property Taxes: Condos vs Houses NYC
If you’re weighing up whether to buy a house or a condo in NYC (and by a house we also mean a townhouse as well as a single-family) property taxes will weigh heavily in your decision making. Here’s what you need to...
Assembling a team to help you buy a home in NYC
When you are buying a property in NYC there are three real estate services that you will need to have: Real estate attorney (contract of sale)Mortgage broker or direct lender (financing)Title insurance (insurance)Home...
Mortgage broker or direct lender? The advantages of each
Okay, so you’re ready to buy a home. You have your bank statements, tax returns, W2’s, pay stubs and/or a financial statement for your business. You’ve pulled a credit report and feel confident about your approval...
Buy or rent a condo in NYC? The case for renting
Buy or rent a condo in NYC? It’s hard for many people to understand why that’s even a choice. The dream of home ownership is woven into the fabric of American culture. It’s the number one source of wealth...
