Highly individual attention to help you sell, rent or purchase your condo, co-op,  townhouse or house.

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   1. Down payment

   2. Income minus 

    monthly expenditures,

    including tax bills,

    loans & other debt  

    obligations i.e. utilities,

    home  insurance and

    medical insurance. 



   1.  Get pre-approved for

   a mortgage

   2. Decide on the type of  

    mortgage (fixed rate or

    not, long or short term)

   3. Shop for the best

   terms and rates 

   4. Check your credit

   report and FICO score.


   1. Identify your time-line

   2. If you don't know what

   neighborhood is best 

   for you ask your broker  

   or sales person to help  

   narrow down suitable


   3. Identify those things

   that will be important to

   you regarding the

   location of your new

   home, i.e.transportation,

   schools, libraries.

   4. Identify the amenities

   you would like and those 

   that are "must haves"         i.e.  door-man, garage,     bike room, washer/dryer,

   gym, etc.


Buyer's Guide  p.2

                          What is the difference between a

                             condo, cond-op, and coop?

         A condo is considered real property.  Just like a house, you    

          are purchasing the unit out-right and will have a deed for

          your individual apartment.  You will  have a real estate tax

          bill sent directly to you for payment and if you have a

          mortgage it will be solely on your unit .   In addition, you will

          pay common charges to the building for the building's      

          upkeep.   The approval process is normally done by  sub-

          mitting either a limited amount of paper work or, less often,

          a full board package.  The review process is commonly done

          by a couple of members of the board of directors who have

          the ability to exercise the "right of first refusal."   If they do

          use that right the building is bound to purchase the apart- 

          ment from the seller at the same price the buyer  contracted  

          to pay for it.  Otherwise, the sale goes through.

          When you purchase in a co-op you are actually buying

          shares in the cooperation that entitle you, as the share-

          holder, to have a proprietary lease for a particular apart-

          ment.  Unlike in the condo scenario, you are responsible for

          paying a maintenance fee which covers the building    

          expenses as well as the real estate tax.   Your mortgage is on    

          your individually owned shares, rather than on apartment  

          per se.   A board package is submitted to the board of

          directors who  review it.  If the financials are in order  

          generally their is an interview of all prospective buyers.  

          Approval of the purchase is granted by a board of directors  

          when they are satisfied that buyer is financially sound and

          will be an upstanding  citizen of the building.


           A cond-op is building that has a combination of condo rules

          and a co-op's financial structure.   The approval process is 

          usually similar to the condo's, whereby the financials and        

          right of first refusal apply, but the purchaser owns shares  

          like in a coop and pays maintenance fees.    Only a small  

          percentage of NYC buildings have this arrangement.


                                 What Can I Afford?

        There are many tools to help you learn what you can actually                afford to buy this important purchase.  Many mortgage

          calculators are available on-line.    You know your income.  

          First, figure out your personal monthly expenditures: school

          or car loans, tuition or any other debt obligations, etc.   When

          you know how much money you actually have available for

          your down payment you can put some general information to

          put into the calculator like our interest rate, the length of

          time you are planning to borrow the money, and the amount

          you wish to borrow.  Recognize the calculators don't either

          property taxes (condos) or home-owner's insurance.  Include

          them in your monthly expenditures.