The Purchase Process
Buying a residential property in NYC is unlike purchasing a home in other parts of the country. We are pleased to present this series of videos to help guide you through the process.
1. Introduction to the Purchase Process
In our first video, I review the purchase process timeline and the factors involved in choosing a neighborhood.
2. Types of Properties: Co-ops, Condos and Townhouses
Learn the differences between the three main types of residential property in New York City: Co-ops, Condos and Townhouses. The significant distinctions between these products include restrictions in ownership, price, & market share.
For more in-depth information regarding townhouses, please visit my website TheTownhouseSpecialist.com
3. Getting Pre-Approved for a Mortgage
Aaron Ritter from Citibank joins me as we tackle topics related to financing in New York City. We discuss the importance of pre-approval, estimated timelines and required documentation for the loan application process, and differences between financing coops, condos, and townhouses.
4. Submitting an Offer
Team member Cassie D’Agata breaks down the offer submission process. She first explains the various components of a compelling offer, then details the steps involved from contract negotiation and attorney due diligence through to contract signing.
5. Creating a Killer Board Package
Now that you have a signed contract, it’s time to secure your financing and complete your board package. PLT member Matthew Wroda walks us through these crucial steps.
6. Acing the Board Interview
In this video I prepare my client for the final step in the board approval process: the interview.
We review the various aspects involved in presenting yourself to the board in the best possible light.
7. The Closing: Sealing the Deal
To conclude our video series, I describe what to expect at the closing. Topics include timing, estimated costs, and the various parties involved in the process.