Buying Co-op vs. Renting Archives

Should I rely on friend and family referrals when I need to find a Realtor to sell my house? How important is local knowledge or reputation?

How to Find a Realtor to Sell My House?

By Sonja Gosine, Spokesperson at Hauseit® / November 8, 2021

Don’t rely exclusively on friends and family for referrals if you want to find a Realtor to sell your house. Instead, search online for the right combination of low commission rates, track record and overall reputation. Make sure the Realtor [...]

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An offer escalation clause in NYC automatically increases a buyer's offer when a competing bid is received, up to a maximum amount.

What Is an Offer Escalation Clause in NYC?

By Sonja Gosine, Spokesperson at Hauseit® / October 27, 2021

An escalation clause is a somewhat uncommon home buyer offer strategy in NYC in which a buyer automatically increases her or his offer amount when a competing bid is received, up to a preset maximum offer. A buyer may consider

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The typical broker fee in New York City ranges from one month (equivalent to 8.33% of annual rent) up to 15% of annual rent. Broker fees vary by listing.

What Is the Average Rental Broker Fee in NYC?

By Sonja Gosine, Spokesperson at Hauseit® / June 28, 2021

Rental broker fees in NYC are notoriously high. The typical broker fee in New York City is anywhere from one month (equivalent to 8.33% of annual rent) up to 15% of the annual rent. The amount of the rental broker

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How much money you need to buy an apartment in NYC depends on whether you’re buying a condo or co-op, the amount of your down payment and whether you’re financing the purchase.

How Much Money Do I Need to Buy an Apartment in NYC?

By Sonja Gosine, Spokesperson at Hauseit® / January 29, 2020

You need to have 22% to 26% of the purchase price saved for a condo and 21% to 22% of the purchase price saved for a co-op (assuming 20% down) to buy an apartment in NYC. These figures exclude mortgage

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The average down payment for an apartment in NYC is 20% of the purchase price. Most co-ops and some condo buildings in New York City have minimum down payment requirements for buyers.

What Is the Average Down Payment for an Apartment in NYC?

By Sonja Gosine, Spokesperson at Hauseit® / January 29, 2020

The average down payment for an apartment in NYC is 20% of the purchase price. While it’s possible to put down 10% or less on many condos in the city, most co-op apartments have stricter financial requirements which require a

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Should you rent or buy in NYC? Is renting cheaper than buying in NYC? How much are closing costs in NYC? Learn pros and cons of buying vs. renting in NYC.

Rent vs. Buy in NYC – Pros and Cons

By Sonja Gosine, Spokesperson at Hauseit® / November 29, 2019

Key advantages to buying vs. renting in NYC include building equity over time, benefitting from price appreciation, obtaining inexpensive leverage through a mortgage, saving money on rent, adding value through renovations and feeling a greater sense of security when it

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Can You Withdraw an Offer on a House?

By Sonja Gosine, Spokesperson at Hauseit® / November 5, 2018

Yes, you can withdraw an offer on a house at any time before purchase contracts have been signed. However, you should be very careful about signing any sort of offer letter or form because doing so may enable a counter-party

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It’s customary for sellers to continue showing their property and even hosting open houses after they’ve accepted an offer.

Offer Accepted on House but Still on Market

By Sonja Gosine, Spokesperson at Hauseit® / October 16, 2018

It’s customary for sellers to continue showing their property and even hosting open houses after they’ve accepted an offer. In fact, it’s standard practice for sellers to continue showing their home until contracts have been signed in NYC. So don’t

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Are there any rules preventing a real estate listing agent from lying about how many interested buyers there are for a property? Can a Realtor lie about multiple offers? Practically speaking, yes.

Can a Realtor Lie About Multiple Offers in NYC?

By Sonja Gosine, Spokesperson at Hauseit® / October 15, 2018

Are there any rules preventing a real estate listing agent from lying about how many interested buyers there are for a property? Can a Realtor lie about multiple offers? Practically speaking, yes. Even though there may be various code of

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Tips for Renting an Apartment in NYC

By Sonja Gosine, Spokesperson at Hauseit® / October 8, 2018

When it comes to horror stories, renting in New York City seemingly tops the list for many people who’ve experienced living in the Big Apple. There’s no question that the rental industry has a definitive sketch factor to it in

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