Buying New Construction Archives

Special Risks to Buying a New Construction Home in NYC

By Sonja Gosine, Spokesperson at Hauseit® / September 7, 2021

There are many risks to buying a new construction home in NYC besides being expected to pay transfer taxes and attorney fees on behalf of the sponsor. We'll talk about risks unique to buying new development units from sponsor control [...]

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How should buyers and sellers approach a real estate bidding war in NYC? Bidding war tips for home buyers and best practices for best and final auctions.

How to Win a Real Estate Bidding War in NYC

By Sonja Gosine, Spokesperson at Hauseit® / July 30, 2018

How should buyers and sellers approach a real estate bidding war in NYC? We'll explain everything you need to know about real estate bidding wars in NYC and best practices and tips for both buyers and sellers. Table of Contents:

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What is a punch list and are sponsors obligated to finish the punchlist? How are disagreements handled? Sample new construction punch list and more.

The New Construction Punch List in NYC Explained

By Sonja Gosine, Spokesperson at Hauseit® / July 9, 2018

What is a punch list when it comes to new construction in NYC? Are sponsors obligated to finish a buyer's punch list within a certain time frame? We'll explain everything you need to know about new development punch lists and

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We explain the real purpose of a final walkthrough and provide you with a handy final walk through checklist you can use. Nuances for NYC new construction.

The Final Walk Through Explained for NYC

By Sonja Gosine, Spokesperson at Hauseit® / July 6, 2018

The final walk through is a critical last step before closing. We’ll explain what the real purpose of a final walkthrough is and provide you with a handy final walk through checklist you can use. We’ll also explain the differences

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Buying property in NYC on a Temporary Certificate of Occupancy (TCO) can be risky. It can be difficult to buy insurance, secure financing or sell a property if the TCO expires. Yet many buildings exist by continuously rolling over their TCO and banks will lend on a TCO. Just how risky is buying a home on a TCO in NYC?

Buying on a Temporary Certificate of Occupancy in NYC

By Sonja Gosine, Spokesperson at Hauseit® / May 30, 2018

Buying property in NYC on a Temporary Certificate of Occupancy (TCO) can be a risky proposition. The NYC Department of Buildings states that owners should negotiate a closing based on a final Certificate of Occupancy (CO) because if a Temporary

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Buying a condominium conversion, rehabilitation or re-development is very different from buying a new construction condo in NYC. Whereas in a ground up new construction building everything is new, that is not the case with a condo conversion. Is the plumbing, electrical and roof new? Is the condo budget realistic?

Condominium Conversion vs New Construction in NYC

By Sonja Gosine, Spokesperson at Hauseit® / May 25, 2018

Buying a condominium conversion, rehabilitation or re-development is very different from buying a new construction condo in NYC. We’ll go over the special risks associated with buying a condo conversion or rehab in this article. Estimate your buyer closing costs

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