Buying in NYC Archives - Page 10 of 39

What's the norm in New York where sales contracts are customized? How about states with standard Realtor purchase contracts like Florida?

How Long Can You Delay Closing on a House?

By Sonja Gosine, Spokesperson at Hauseit® / September 3, 2021

How long you can delay a closing on a house or apartment depends on the language of your specific purchase contract. In New York, it's fairly standard for contracts to allow either party 30 days leeway on the closing date. [...]

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What is a typical mortgage lock period? When should you rate lock? Rate lock fees, rate lock expiration, sample rate lock agreement & more.

What Is a Rate Lock Agreement?

By Sonja Gosine, Spokesperson at Hauseit® / August 24, 2021

A rate lock agreement is sent to prospective borrowers after they've confirmed with their lender that they wish to lock in a quoted interest rate on the mortgage for a certain period of time. While not required as it's perfectly

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Buyer Asking Realtor to Reduce Commission

By Sonja Gosine, Spokesperson at Hauseit® / July 19, 2021

As a buyer, is asking a Realtor to reduce commission a good idea? Most buyers seem to think that they can get a better deal by forgoing buyer agent representation. After all, if there's one less agent, there must be

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How to Ace a Co-op Board Interview in NYC

By Sonja Gosine, Spokesperson at Hauseit® / July 14, 2021

Ace a co-op board interview in NYC by showing up on time, being presentable, being succinct in your answers and not asking any questions. Be especially careful not to mention any renovation plans during your co-op board interview, as it

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What is a condo or co-op offering plan in NYC real estate? How can I obtain a copy of an offering plan? What information is contained in an offering plan?

Offering Plans for Co-ops and Condos in NYC

By Sonja Gosine, Spokesperson at Hauseit® / July 13, 2021

What is an offering plan in NYC real estate? Where can I find the offering plan for my condo or co-op building? Who pays for the offering plan? What information is in a coop offering plan? We'll explain everything you

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Buying a NYC co-op as an investment property might be tempting because of how cheap co-ops are compared to condos. But is investing in a co-op a good idea?

Is Buying a NYC Co-op as an Investment Property a Good Idea?

By Sonja Gosine, Spokesperson at Hauseit® / July 6, 2021

Buying a NYC co-op as an investment property might be tempting because of how cheap co-ops are compared to condos. In fact, co-ops in NYC are anywhere from 10% to 40% less expensive than condos. In theory, the lower purchase

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The typical broker fee in New York City ranges from one month (equivalent to 8.33% of annual rent) up to 15% of annual rent. Broker fees vary by listing.

What Is the Average Rental Broker Fee in NYC?

By Sonja Gosine, Spokesperson at Hauseit® / June 28, 2021

Rental broker fees in NYC are notoriously high. The typical broker fee in New York City is anywhere from one month (equivalent to 8.33% of annual rent) up to 15% of the annual rent. The amount of the rental broker

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Rental broker fees are unequivocally legal in NYC and New York State. This topic was the subject of much confusion and controversy in 2020. Learn why.

Are Rental Broker Fees Illegal in NYC?

By Sonja Gosine, Spokesperson at Hauseit® / June 28, 2021

Rental broker fees are unequivocally legal in NYC and New York State. This topic was the subject of much confusion and controversy in 2020. Here’s why: Following the passage of the Housing Stability and Tenant Protection Act of 2019 (HSTPA)

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Calculate the 421a tax abatement savings on a NYC condo using this step-by-step guide. Compute the unabated taxes for a condominium with a 421a tax abatement.

How to Calculate 421a Tax Abatement Savings on a NYC Condo

By Sonja Gosine, Spokesperson at Hauseit® / June 8, 2021

If you’re buying a condo in a building with a 421a tax abatement in NYC, you might want to know how much the un-abated taxes will be once the abatement expires. Most buyers rely on a listing agent or buyer’s

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Being outbid when buying a home in NYC is very common. Learn how to beat the competition when buying a condo, co-op or house in New York City.

How to Avoid Being Outbid When Buying a Home in NYC

By Sonja Gosine, Spokesperson at Hauseit® / May 11, 2021

Being outbid when buying a home in NYC is very common. The most desirable properties can sell quickly, even in the worst of markets. While the risk of being outbid cannot be entirely avoided, we discuss several strategies in this

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