In New York City where real estate can be exorbitant, square footage is as precious as fine jewelry. Postage size rooms can add hundreds of thousands, sometimes millions of dollars on to the price of property. It’s...
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!
Jeff VasishtaProof of Funds: What can be used and how does it work?
Often abbreviated to POF, a Proof of Funds, is, as the name suggests, a document showing that the buyer has the money available to proceed with the transaction. This usually occurs in the form of a bank statement or any...
Financing contingency: What are the risks?
A financing contingency is a clause in a sales and purchase agreement. It states that the purchase of a property is contingent on a buyer securing a mortgage with which to buy the property. Why is a financing...
Block and lot: What is it and where do I find one in NYC?
A block and lot survey system is used in the USA and Canada to locate and identify land. It is usually used in areas of dense population, such as towns and cities. It’s also known as the recorded plat survey system or...
Condo Board Package: When your building gets to know you
Most people are familiar with the concept of a co-op board but not a Condo Board Package. The former has been depicted in the media as a snooty hierarchy of residents keeping the undesirables out by enforcing an extreme...
What happens on closing day for the home buyer?
Many home buyers stress about a real estate closing. However, the mere fact that there is a closing means that most of the hard work has already been done. The lender has approved a loan, assuming there is a loan. If...
