Getting Ready

Finding the right apartment starts with finding the right agent. An experienced agent will help shape your search, recommend an all-star professional team (from lawyers to inspectors to movers), and otherwise guide you through the entire complicated process of acquiring a home in NYC.

Your agent will help you define your budget, set up your search, and recommend a lender that can pre-approve you and identify any potential credit issues, some of which may be fixed in time for your home purchase.

Related Links: 

Why work with an agent?

Coop or condo -- what's right for me? 

What does it cost to buy a home in NYC?

Everything you need to know about mortgages

What to consider for your Home Wishlist?

NYC listings vocabulary

Curious about new development, HDFC, multi-family properties?


Finding the One

Depending on what you are looking for, it might take one day or one year to find an apartment. You don’t need to wait until you’re ready to make a purchase to learn about the market. It’s invaluable insight that will empower you to make more effective offers when the time comes. 

Your agent will help you identify properties that you should visit, but also explore online listings on your own. Just make sure to let your agent know any questions you have about particular properties so they can find out pertinent information and schedule appointments for you to view. Set aside your Sundays to visit open houses and share your feedback on properties with your agent.

Related Links: 

Coop or Condo?

Why don't all listings include square footage?

What to consider when buying into an apartment building?


Making an Offer &

Getting into Contract

Your agent will strategize with you when you are ready to submit an offer and will help you gather all required documents and information required. Your agent will negotiate on your behalf and advise you through any bidding wars.


Once you have an accepted offer, remember that it is not binding on either party, so its is important to get into contract ASAP. This means hiring a top attorney to complete contract negotiations and due diligence in a timely manner. Once you and your attorney are satisfied with the contract terms and health of the building, the buyer signs the contract and submits a 10% deposit. 

Related Links:

What professionals will I need to buy a home?

How much should I put down?

The basics of making an offer

Do I need to be all-cash to be competitive?

Why do I need reserves and which assets count?

What does it mean to have an accepted offer?

Do you need a home inspection and when should you have it?


Mortgage &

Building Applications

Once you are in contract, you can compare lenders and officially apply for your mortgage. Once the lender approves you and the property, they will issue a commitment letter.

As soon as you have the commitment letter, your agent will prepare and submit the building application. Most coop applications are extensive (requiring full financial disclosures with supporting documentation, employment and salary information, personal and business references, tax returns for the previous 2 years, credit history, etc.) and will be followed by an interview by the board of directors before approval is granted. 

Most condos also have a building application, but these vary in the extent of disclosures. Most condos have no interview and as long as the application is complete, will grant the necessary waiver of the right of first refusal.

Related Links:

Everything you need to know about mortgages

Condo applications and the right of first refusal

What should I expect from the board interview?



Once you have the Board's approval/waiver, your attorney will coordinate with the appropriate banks, title company, building management, etc., to schedule a closing date. Once closing is scheduled, you’ll obtain the required home owners insurance policy, and can make the necessary moving arrangements. Within 24 hours of the closing, you and your agent will have a final walk through of the property to identify any issues.  

Make sure to rest up your signing hand for the closing! Once you've signed a pile of documents, you'll get the keys to your new home!

Related Links: 

What condition should your new home be at closing?

What is the STAR Tax Credit & Do You Qualify?

Condo closing costs 

Coop closing costs

Townhouse closing costs