Buying DIY???You Won't Want To Miss

Steps and Tips to Buying an Apartment/Home in Manhattan

Although we are starting to become a society of Do-It-Yourself or DIY buying should really not be a do-it-yourself project and your real estate agent can be your greatest asset in buying. Every detail is important and the agent you choose can help make it a great deal for you.....most of the time..... and to change that to all of the time....follow a few or these steps and tips.

Fact: Many people don't realize that the listing agent does not work for you. They work for the seller and although you may have built up a relationship with the realtor his fiduciary responsibilities are to the seller. Therefore, if you are looking to be fully represented through that particular agent then you would need to hire him as a buyer’s agent. However, even though this is legal in New York State this may not be wise because it would then mean he would represent both you and the seller and he would then owe his fiduciary responsibilities to both of you. If you are worried about any conflict of interest then you should hire an outside buyer’s agent. This move could potentially save you thousands of dollars$$. Keep in mind that a buyer’s agent does not get paid unless you BUY!.

Select a Sales Professional

Your agent needs specific expertise in dealing with Manhattan sales, if buying in Manhattan, and should be a local realtor since usually they have the right contacts to get your deal closed. More on this subject as we move forward.

Home/Apartment Searching

Now it's time for the fun part – sort of.  When buying yourself you will have to put in the time hours, days, weeks to thoroughly search through thousands of listings to pinpoint which ones are of interest to you. An agent has this search at their fingertips and can do this is as little as a few minutes. They also have status accuracy meaning they know whether a listing is still available rather then you having to call each individual realtor, hoping they call you back. Not to mention if you are not an organized person then this is not for you at all! While it's easy to get swept away, keep in mind that every apartment that looks good is not always a good deal. Your agent usually knows the building without even stepping inside and is familiar with the layouts and will know if this is even the right one for you, saving you time. They also know the financial buying requirements required by that building now saving you time and money. Again choosing the wrong agent can be the difference between seeing hundreds of apartments you don't want! Choose Experienced and Local!

The Offer and Negotiation

Your agent should then negotiate for your best interest, creatively solving problems while maintaining your bottom line. Getting a deal done is not only in the interest of both parties but also in the realtors. Keep in mind that an experienced realtor knows that you, as the buyer can become his/her future seller, if they get the job done right! Not to mention referrals! Inexperienced negotiators can often prevent their clients from getting their new homes. This can be the same case in DIY if the only negotiating you have done is knick knacks at garage sales.

Signing

You may think you’re in the clear, but your deal is still in jeopardy. Your agent can and should recommend a strong real estate attorney that will research the property, make necessary changes to the contract and help include any specifications that your transaction requires.

Applications and Legal Papers

In Manhattan the majority of real estate transactions have the added complexity of co-op and condo boards. You only have one shot at presenting yourself as a good neighbor. Your agent should help you prepare your application and prep you for the interview. Again Choose Experienced and Local!

Closing

The closing process can also be tricky. Your agent and attorney at the closing table help keep deals together when transactions get rocky.

Try not to  undervalue what is being done for you by a realtor. They are some of the hardest working, underappreciated professionals you will ever come across. Let the pro's handle it and enjoy your new home and the process that got you there.

Here are some reasons why you should choose us to represent you.

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Also if you choose to use us to represent you receive a Thank You Getaway Vacation!!!

 

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