Working with Foreign Buyers - United Nations Status Buyers

By
Real Estate Agent with Douglas Elliman Real Estate

We work with many foreign buyers including United Nationas Status buyers, some are from out of town and would like to buy a piece of Manhattan Real Estate as long term investment, some buyers are looking for a second home when they are in town, some are relocating to Manhattan New York for career, and some are relocating here because they work for the United Nations.

United Nations status buyers are diplomats and some are United Nations employees, they all have different visa status, and as we navigating through the maze of Manhattan Real Estate, it is important to establish a clear understanding of their visa status to narrow our search as to what building/condo or co-ops will work for each buyer.

United Nations status buyers and their Price Range - Manhattan housing market consist of Condominiums, Co-operatives and Townhouses. The differences between each housing product is explained in detail in our other blog series. To briefly explain, buying a condominium is compared to buying a single family house, you are buying a real property. On the opposite end, buying a co-operative, you are buying a share of a cooperation, where there is a board of directors that will decide all the rules and if you plan to sublet or renovate the apartment within four walls, you will need the approval of this board of directors. Condominiums price starts about $1,000 per square feet, and Co-operatives starts about $500 per square feet, the prices are determined by location, condition, exposure, and the market condition and inventory. As United Nation status buyers, there are only few Co-operatives will accept United Nations status buyers, Co-Operatives tend to shy away from non-United State citizens or no permanant United States residents. However, each Co-operatives have their specific house rules and policies, contact us and we can help you check each single building before you start your search to avoid wasting time. On the other hand, condominiums welcomes foreign buyers with or without UN status.

United Nations status buyers and Financing Options - To obtain financing in United States, lenders requires the borrowers to have minium United States credit history up to two years. Many United Nations status buyers have United States credit history, The ones with credit history, there is a possibility finding financing through major lenders. If not, United Nations do have their own credit union that allows the UN buyers borrow money through their own banks. If you are a United Nations status buyers, please contact us and we discuss your specific status to see if financing is an option for you.

We are experts in assisting foreign buyers including United Nations status buyers in finding their perfect Manhattan Real Estate. Contact us by email at ehsu(@)elliman.com or Morgan.Evans(@)elliman.com or (917)837-8869 to receive prompt assistance.

Read more about our expertise in the blogs series below:

CALL US TODAY at (917)837-8869 or (646)644-6929 to discuss your specific Real Estate needs.  

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Eileen Hsu 許雅嵐 (email: EHSU(@)elliman.com)

Our team specialize in Manhattan New York Condominiums, townhouses, and condops.

We are condominium residents ourselves so we understand the Manhattan New York condominium community. We also enjoy all Manhattan neighborhoods, especially Upper West Side, Lincoln Square, Midtown East, Murray Hill, Financial District, Chelsea, Fifth Avenue, Greenwich Village, Nolita and etc just to name a few. If you or you know someone that may be interested in selling, buying or leasing their Manhattan New York condo, call us today (917)837-8869 or (646)644-6929 and we can discuss your specific Real Estate goals.

Manhattan New York Condo Specialists or Chinese Speaking Real Estate Agent

 

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Home Buying
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New York New York County Manhattan Midtown East
Groups:
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Marketing To International Buyers
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foreign buyer
manhattan condo specialists
united nations status buyers

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Rainmaker
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Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Eileen, great post to help not just your United Nation, but your local buyers as well.

Aug 30, 2010 09:28 AM #1
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Eileen Hsu

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