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Manhattan New York Condo/Coop Buyers Check List
We work with many out of town first time investors and buyers that would like to acquire a Manhattan New York condo as part of their investment portfolio.
For many buyers, they may have purchased Real Estate in different parts of the world or US but this is their first experience in buying in Manhattan New York. We often have a check list of basic steps to educate the buyers as to how to get started. Here is a good check list:
Consult with a reputable lender or mortgage consultant to see how much can you finance in today’s market. In today’s market, lending guidelines are changing by the day, it is in your best interest to see what will it take to qualify for a loan. Do speak to your banker if you have money in bonds and money market. Find out how many days will it take to liquidate your funds so you know once we have a verbally accepted offer. Often in Manhattan New York market place, the seller seeks 10% of the sales price as downpayment at the time of signing contract. With that being said, if you are buying $1M Manhattan condo, you will need $100,000. ... more
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