Here are few considering factors for Foreign Buyers and Out of town buyers before investing in Manhattan New York Real Estate:
- Do you know the difference between Co-op, condop and condo? If you are a foreign national that has no permanant 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.
- Why do you want to buy in Manhattan New York? Is it because your child is in Manhattan New York or plan to send them to New York for school? How old are your child? Are they near for University or ?
- 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 finanancial 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.
- Should you structure the purchase under a Limited Liability Corporation (LLC) or individual? Planning ahead of time is a must for foreign national buying in Manhattan New York condo because of tax implication in the future, working with the Real Estate agents like ourselves can help you avoid complication in the future.
As experts 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.
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Eileen Hsu 許雅嵐 (email: EHSU(@)elliman.com)
We specialize in Manhattan New York Condominiums, townhouses, condops and cooperatives. We are condominium residents ourselves so we understand the Manhattan New York condominium community. We also enjoy all Manhattan neighborhoods, especially Upper West Side, Lincoln Square, Midtown East, Murray Hill, Financial District, Chelsea, Fifth Avenue, Greenwich Village, Nolita and etc just to name a few. If you or you know someone that may be interested in selling, buying or leasing their Manhattan New York condo, call us today (917)837-8869 or (646)644-6929 and we can discuss your specific Real Estate needs in private. Thank you.
To read more about Manhattan New York Real Estate, click on our websites below:
Manhattan New York Condo Specialists or Chinese Speaking Real Estate Agent
