The waiting is finally over! You saved your money for years, found the NYC apartment you always wanted to buy, made an offer that was accepted, signed the contract, and your mortgage commitment has been issued ahead of your closing date.
The last step before arriving at the closing table is a final walk-through of the apartment. A walk-through typically takes place a few days prior to the closing (in some cases, on the morning of the closing) and is organized by your NYC real estate agent to verify the condition of the property.
A walk-through is not a formal home inspection (you’ve probably done that with an inspection company already). The purpose of a walk-through when buying a NYC apartment is to double check that the condo or co-op unit’s condition hasn’t changed since you last visited, ensure all appliances and fixtures mentioned in the contract are present and working, and confirm that any agreed-upon repairs have been completed.
Despite having to pay sky high prices for apartments in NYC, some buyers may not realize that there are additional closings costs they haven’t considered. The extra costs can really add up, especially for condos.
January 01, 2019
In addition to financial documentation, you will need to submit reference letters as part of your co-op board application. See what letters you'll need.
December 21, 2018