4 Tips For Preparing To Buy A Home In NYC

When preparing to purchase an apartment here in NYC, there's quite a bit of work you'll need to do before taking the plunge. Here are 4 tips you should take to purchase your next home in the city.

No. 1: Get your documents ready

In addition to having a bank pre-approval letter you’ll want to have proof of funds. More often than not proof of funds is shown through a completed asset and liability form which lists your assets, your debt, and your income. It’s a total invasion of privacy but a critically important document when demonstrating your qualifications with an offer. 

No. 2: Get your team in order

In addition to having us as your agents, obviously, you’ll want to have spoken to a real estate closing attorney. It’s good to have an attorney ready to go to receive a contract and begin due diligence on the property you intend to purchase. While you may have a pre-approval, it's also good to determine who will be your banking partner if financing. 

No. 3: Do your homework

One thing we harp on here is educating our clients so that if and when they find the home they want to purchase they understand the value of the home and the other options in the market. When you do this it means you’ll be emotionally prepared and primed to purchase the home you want and won’t suffer from buyer’s remorse. 

No. 4: Take the plunge!

Sounds easy enough but as I’ve said previously, you really have to be in position to buy – logistically, emotionally, and financially. Make sure you’re ready to go there and you’re more than likely to have a successful transaction.