Buying a home in New York City is one of the best and safest investments you can make, but with so many options how do you begin? The market is complex, fast-paced, and nuanced, and expert guidance is crucial to making the process seamless and enjoyable.
Jed Lewin’s deep expertise as an Associate Broker — and his many years of experience conducting win-win negotiations as an attorney — will ensure that you secure the New York City home of your dreams.
Work with Jed to complete an asset and liability form, find a mortgage professional and real estate attorney, and get a loan pre-approval if you’re obtaining financing.
The Agency Tip: Your offer will appear stronger if your loan is from a reputable lending institution with a local presence in New York City.
Jed will start by gaining an understanding of your needs and criteria, then curate a search including every relevant property on and off the market.
The Agency Tip: Create a list of must-haves versus nice-to-haves and be sure to clarify the different requirements based on home types before shopping.
Jed will help you craft the most powerful offer by analyzing market conditions, buyer demand, and uncovering the seller’s motivations.
Your offer was accepted… but don’t buy window treatments just yet! Now Jed and the seller’s agent prepare a deal sheet for the attorneys to develop a contract.
The Agency Tip: Multiple offers can be accepted, but only one wins! Preparing your foundation in step one can help you beat the competition!
Your attorney will review the history of the building to ensure that it’s in sound condition, both physically and financially.
The Agency Tip: The attorney typically spends five to ten business days conducting due diligence.
Now that you’ve agreed on an offer, Jed will submit a deal form with all of the details of the transaction to your attorney and the buyer’s attorney, who will then negotiate the contract.
The bank will confirm your income, assets, and credit. They will also collect information about the financial status of the building and arrange for a property appraisal. Once approved (which takes approximately three weeks), you’ll be issued a mortgage commitment.
The Agency Tip: The board will not review your application without the mortgage commitment letter.
This is one of the steps where buyers are beyond thankful that they have an agent. Jed will compile your board package, which is a lengthy and complicated process.
The Agency Tip: Most co-ops will invite prospective buyers to a board interview after reviewing their board package. Jed can coach you beforehand to ensure you put your best foot forward in the interview.
On closing day, you, Jed, and the listing agent will do a final inspection to ensure everything is in working order.
The Agency Tip: Take pictures of any discrepancies and send them to your attorney. Don’t forget to check the outlets!
It’s time to sign on the dotted line! Your attorney will send you a copy of everything you’ve signed at closing.
Jed will guide you through every step of the buying journey, will save you thousands by negotiating on your behalf, and will ensure that the process is as seamless and efficient as possible.
Learn whether a condo, co-op, townhouse, or multi-family home is right for you.
While putting in an offer is very exciting, to get a smart deal you need to know a few tips.
Acquiring real estate in New York City is daunting, this timeline breaks it down into easy to follow and progress steps.
Get assistance in determining the current property value, crafting a competitive offer, writing and negotiating a contract, and much more. Contact me today.
