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...
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marketproofCondo 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...
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...
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...
Proof 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...
Square footage in NYC: Separating fact from fiction
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...
Should I use a buyer’s agent or work directly with the sponsor (developer)?
Working directly with the sponsor instead of with a buyer’s agent is bound to split opinions. Agents will always insist it’s better to work with them. However, if you already found a condo you want to buy much of...
Buying a new condo: What to ask on the first tour?
A shiny new condo building in NYC has a lot of appeal. It’s a chance to separate yourself from the chaotic, congested streets outside. A cosy cocoon in a pristine, air conditioned building with the type of amenities you...
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...
Making an offer: How to make it compelling to a seller
Analysis paralysis affects many NYC property buyers and stops them from making an offer. There are so many things to take into consideration. Prices are high and closing costs are often more than half a year’s salary...
Fair housing laws in NYC: Why it is important for buyers to know them
Housing discrimination in a progressive and diverse place like New York City might seem like a non-issue in 2019. That’s not the case. According to the National Fair Housing Alliance, New York City ranks third in the...
Assembling a team to help you buy a home in NYC
If you’re the type of person who likes to work alone and demurs whenever asked to take responsibility, you might need a pep talk before buying a home in NYC. You’re about to have a whole bunch of people working with and...
