Buying in NYC Archives

Renovating your condo or co-op apartment in NYC? You'll need to sign an alteration agreement. Sample alteration agreement with your building & more.

Sample Alteration Agreement for NYC

By Chris Oliver, Spokesperson at Hauseit® / January 15, 2020 January 15, 2020

Looking for a sample alteration agreement because you need to renovate your home? Congratulations on being smart and researching in advance what an alteration agreement in NYC looks like. As you'll see from the sample alteration agreement for a NYC …

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What is the Brooklyn MLS? Should I join as an agent or list my home in the Brooklyn MLS vs the REBNY RLS? Neigbhorhoods covered, fees & co-broking & more.

A New Yorker’s Guide to the Brooklyn MLS in NYC

By Chris Oliver, Spokesperson at Hauseit® / January 13, 2020 January 13, 2020

What exactly is the Brooklyn MLS? Is it related to the Real Estate Board of New York? What parts of Brooklyn does it cover? Do I need to list in the Brooklyn MLS or is the REBNY RLS sufficient? How …

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Step-by-step tutorial for using ACRIS in NYC to search for real estate property records by name or address. Automated City Register Information System tutorial.

ACRIS – How to Search Property Records in NYC

By Chris Oliver, Spokesperson at Hauseit® / January 7, 2020 January 13, 2020

Property records in NYC are a matter of public record. They are accessible to the general public online through the Automated City Register Information System, also known as ACRIS. The ACRIS database allows you to search for property records by …

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What are the steps to getting a NYC real estate commission rebate on your home purchase? Can sellers and buyers both get rebates when they buy or sell?

Guide to Getting a NYC Real Estate Commission Rebate

By Chris Oliver, Spokesperson at Hauseit® / January 6, 2020 January 7, 2020

While the average NYC real estate commission for sellers is still 5-6%, it is possible as a buyer to save money on your purchase by getting a NYC real estate commission rebate. In this article we will delve specifically into …

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Why new development listing agents are more strict about buyer agents attending showings, commissions being paid based off of net purchase price & more.

How Commissions Work for New Developments in NYC

By Chris Oliver, Spokesperson at Hauseit® / January 6, 2020 January 6, 2020

There are generally more rules around how commissions are paid to buyer's agents for new development purchases in NYC, and sponsors are generally more strict in terms of requiring buyer's agents to register and/or attend showings with their clients. This …

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Strategies to reduce your DTI when buying a NYC co-op include increasing your down payment, receiving a gift or applying with a guarantor or as a co-purchase.

How to Reduce Your DTI Ratio When Buying a NYC Co-op

By Chris Oliver, Spokesperson at Hauseit® / January 3, 2020 January 3, 2020

Meeting the Debt-to-Income (DTI) ratio requirement for a NYC co-op apartment can seem like a daunting task. While not all New York City co-op boards are equally strict or rigorous when it comes to buyer financial requirements, it can feel …

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No standard offer to purchase form in NYC. If used, submit offer templates will vary by brokerage firm. Template offer to purchase real estate form & more.

The Offer to Purchase Real Estate Form in NYC

By Chris Oliver, Spokesperson at Hauseit® / January 3, 2020 January 3, 2020

The offer to purchase real estate form comes in various forms in New York, and can vary based on the brokerage firm. Furthermore, it's quite uncommon to see offer to purchase forms used in the first place, especially in NYC. …

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Co-purchasing a co-op means being jointly responsible for all housing expenses, whereas a guarantor is only responsible for backstopping maintenance.

Co-Purchasing a Co-op vs Using a Guarantor in NYC

By Chris Oliver, Spokesperson at Hauseit® / December 16, 2019 December 16, 2019

Both co-purchasing a co-op and utilizing a guarantor when buying a co-op are viable options for a buyer who has shaky finances that the co-op board might not otherwise approve of individually. It's important to understand that co-purchasers share joint …

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New construction closing costs in NYC for buyers are 4% to 6%. New development closing costs include NYC & NYS Transfer Taxes and sponsor legal fees.

How Much Are New Construction Closing Costs in NYC?

By Chris Oliver, Spokesperson at Hauseit® / December 9, 2019 January 6, 2020

New construction closing costs in NYC for buyers are 4% to 6% of the purchase price. A typical financed buyer on a new development condo purchase in NYC will pay closer to 6% in total closing costs. Buyer closing costs …

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What is the typical real estate lawyer fee in NYC for a purchase or sale transaction? Is the cost of a real estate attorney in NYC paid upfront or hourly?

Real Estate Lawyer Fees in NYC

By Chris Oliver, Spokesperson at Hauseit® / December 9, 2019 December 9, 2019

The average real estate attorney fee for a purchase or sale transaction in NYC is $2,000 to $3,000. Lawyer fees can be as high as $5,000 for a more complex transaction and for new developments. There are also light-touch, discount …

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