Purchasing a Home in NYC?

Are you considering purchasing a home in NYC? If so, it likely will be the largest investment of your life. And if not, then you probably are considering it as an investment or as a second home, a Pied-e-Terre'. In any instance, unless you have done it before, you undoubtedly have may questions about the process, usually along the lines of what happens and when does it happen? There certainly will be steps that you didn't realize were important, and steps that you were totally unaware of. I can tell you that one of the most important aspects of a real estate agent's duties is to manage the expectations of the customer. So, with that in mind, below you can see a timeline of the purchase process from start to finish. It will give you a good idea of what to expect. There is nothing more frustrating to a buyer than hearing from an agent that that their offer on a property wasn't even considered because there was no mortgage pre-approval submitted with the offer, or that their board application won't be accepted unless it is completed by Friday. That would mean that their application won't be reviewed until the next board meeting of the following month. This would delay the board process and could put the entire deal in jeopardy, something that neither the buyer, the seller, nor the agents want. In future posts I'll break down each individual milestone but this is a good foundation for a buyer to understand the process. As always if you have any questions of an immediate nature, you can post them here or reach out to me via email or phone.

Timeline of the Purchase Process