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An inspection contingency is rare in NYC because buyers typically conduct inspections prior to contract execution. Sample inspection contingency & more.

Do Buyers Need an Inspection Contingency in NYC?

By Hauseit / November 12, 2019 November 12, 2019

Buyers typically do not need an inspection contingency in NYC because home inspections are uncommon for condo and co-op apartment purchases, which make up the vast majority of the inventory in New York City. Furthermore, when inspections are done in …

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How do you find a great buyer's agent in NYC? What are the most important criteria for evaluating a buyer's broker? Will your broker offer you a rebate?

How to Find a Great Buyer’s Agent in NYC

By Hauseit / November 11, 2019 November 11, 2019

Finding a buyer’s agent in NYC is the easiest part of your home search. You’ll be bombarded with requests from buyer's brokers the moment you start your search online and begin attending open houses. However, finding an experienced buyer's agent …

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Working Directly with a Listing Agent in NYC

By Hauseit / November 8, 2019 November 8, 2019

Working directly with a listing agent in NYC as a buyer is uncommon. This is because 75% to 90% of buyers in NYC are represented by buyer’s agents. The main reason why virtually all buyers are represented is because sellers …

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Strategies for reviving a stale real estate listing in NYC include a price reduction, staging, aesthetic upgrades, decluttering, new photos or relisting.

How to Revive a Stale Real Estate Listing in NYC

By Hauseit / November 8, 2019 November 8, 2019

The most immediate methods for reviving a stale real estate listing in NYC include making a price adjustment, considering staging and aesthetic upgrades, decluttering, taking new photos and conducting broker outreach. If your asking price is slightly above a key …

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Coop boards might ask for 1-2 years of maintenance payments in escrow or a guarantor for conditional coop board approval in NYC. Buyers can renegotiate terms.

What is Conditional Coop Board Approval in NYC?

By Hauseit / November 7, 2019 November 7, 2019

A co-op board is able to conditionally approve a prospective purchaser of a co-op apartment, with full approval only given after the buyer has agreed to and satisfied certain requests made by the coop board. The most common conditional coop …

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When Do I Owe a Realtor a Commission?

By Hauseit / November 6, 2019 November 6, 2019

Sellers typically owe a Realtor a commission once their home has been sold; however, some more "old school" listing agreements will have language stipulating that a seller owes commission as long as a "ready, willing and able" buyer has been …

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Top 25 Celebrities Who Live in NYC

By Hauseit / November 5, 2019 November 6, 2019

As the financial capital of the world, New York City is home to countless A-list celebrities and other well known entertainers and public figures. NYC is also a popular pied-a-terre (second home) destination for many celebrities who live in Los …

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What is the NYC Mansion Tax?

By Hauseit / November 3, 2019 November 3, 2019

The NYC Mansion Tax is a buyer closing cost which ranges from 1% to 3.9% of the purchase price, applicable on purchases of $1 million or more in New York City. The Mansion Tax is part of the real estate …

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Found a House Without My Realtor, What’s Next?

By Hauseit / October 31, 2019 October 31, 2019

It seems like I've done all of the work, and now I've found a house without my Realtor, what's next? If you've every asked this question, you're not alone. Whether a buyer can change agents, or choose to be represented …

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Agents won't agree to an exclusive agency listing agreement because of conflicts of interest that such an agreement would create. Sample agreement & more.

Why Agents Won’t Agree to an Exclusive Agency Listing

By Hauseit / October 25, 2019 October 31, 2019

Real estate agents won't agree to an exclusive agency listing because of the conflicts of interest present in such an arrangement between the owner and the agent. The owner might just be price checking an existing offer, and the agent …

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