CLIENT GUIDES

Buying a home is one of life’s biggest decisions—and often the largest financial commitment you’ll make. In New York City’s competitive market, having the right strategy and team (a buyer’s agent, mortgage broker, and real estate attorney) is key. Follow these steps for a smooth, successful purchase:

 

Step 1: Determine Your Budget
Meet with a mortgage broker to understand what you can afford. A pre-approval letter will show sellers you’re a serious buyer and help you act quickly. At this stage, also choose an experienced real estate attorney.

 

Step 2: Define Needs vs. Wants
Clarify your priorities—location, size, amenities, pet policies, resale potential, transportation, etc. Be realistic about compromises and let your buyer’s agent guide you based on current inventory.

 

Step 3: View Apartments
Touring properties helps refine your preferences. Most buyers see 10–30 apartments before finding “the one.” An experienced agent will save you time by showing the best options efficiently.

 

Step 4: Submit an Offer & Negotiate
Offers often land close to asking price, but terms like contingencies, closing date, and financing can make a difference. Your agent will help position you as the strongest candidate.

 

Step 5: Go Into Contract
Once your offer is accepted, your attorney reviews building financials and deal specifics. You’ll place 10% in escrow, and once due diligence is complete, both parties sign the contract.

 

Step 6: Purchase Application
Complete the condo or co-op board package. Condo approvals are simpler, while co-op boards often require a personal interview. Your agent will ensure your application is complete and polished.

Selling your home can be both emotional and complex. That’s why working with the right broker is essential—they’ll focus on strategy and execution so you can maximize your return and move through the process with ease. Here are the key steps to a successful sale in New York City:

 

Step 1: Choose Your Broker
Select a knowledgeable, confident agent you trust. You’ll be working closely together, so professionalism and experience matter.

 

Step 2: Price Strategically
Your broker will analyze comps, competing listings, and market trends. Together, you’ll set a price that reflects your goals and timeline, while staying competitive.

 

Step 3: Prepare & Market
Professional photos, floor plans, and listing details are assembled, then launched across real estate platforms, media outlets, and brokerage networks to reach the widest audience.

 

Step 4: Show Your Home
Access and presentation are key. The more available and polished your apartment is, the faster and stronger the offers will be.

 

Step 5: Negotiate Offers
Your broker manages negotiations, balancing price with the strength of buyers’ financials. For co-ops, they’ll also assess buyers’ chances of board approval.

 

Step 6: Contract of Sale
Once terms are agreed, attorneys finalize the contract and the buyer places a 10% deposit into escrow.

 

Step 7: Board Approval
The buyer submits a condo or co-op application. Co-ops require more extensive documentation and an interview, often extending the process.

 

Step 8: Closing
After board and bank approvals, attorneys and managing agents coordinate the closing date. Once signed, funds and keys are exchanged, and the sale is complete.

 Renting an apartment in New York City can be overwhelming. The market is fast-paced, competition is high, and landlords require extensive financial documentation before approving an application. Furthermore, online listings are often misleading. Working with an honest, knowledgeable agent who is upfront about any fees and realistic about expectations can make all the difference in securing your next home. The first step is knowing what to prepare and what to expect financially.

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Rental Requirements

Income

• Earn 40–45x the monthly rent annually
  (Ex: $3,000 rent = $120,000–$135,000 annual income)

• Guarantors (co-signers): 80–85x the monthly rent annually

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Credit

• A 700+ score is ideal

• Lower scores may require an additional security deposit

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Proof of Income (bring at least one)

• 2 most recent tax returns

• 3 most recent pay stubs

• Employment offer or verification letter

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Assets

• 3 most recent bank statements

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