Short checklist for Foreign Buyers & investors and Out of town buyers before investing in Manhattan New York Real Estate:
Difference between Co-op, condop and condo? Many out of town buyers are often confused by all the terminology of the NYC housing market. If you are a foreign national that has no permanent residency here in United States, or here for student/working visa, it may be important for you to understand the difference between all different type of inventory.
- Are you aware of the purchase process? The typical purchase takes about 30-45 days to close even if you are a cash transaction, there are condominium applications that the purchaser need to complete and condominium board of directors have to review before the closing can be scheduled.
- How much do you want to 'disclose' about yourself? In a typical condominium application, there will be financial information documents that purchaser has to present to the board of directors to review. Is this comfortable for you?
- How much financing do you plan to obtain if any? Obtaining mortgage for foreign nationals takes time, and expertise, if financing is something you required, it is important to speak to a lender that has this type of experience.
We are Manhattan New York Real Estate experts that have extensive knowledge and experiences in working with Foreign National buyers and out of town buyers, we are constantly educating the buyers and addressing the misinformation and false assumptions that client bring from his/her home town/country, and culture in order to explain the options, alternatives, and their consequences.
Call us at (917)837-8869 today to discuss your purchase in Manhattan New York. We will educate you about the market, buying process and work with you to find the best condo to suit your needs.
Eileen Hsu 許雅嵐 (email: EHSU(@)elliman.com)
Our team specialize in Manhattan New York Condominiums, townhouses, and condops.