Making an Offer on a Condo in NYC: What You'll Need to Be Ready

Save 2% When Buying a Condo in NYC: https://www.hauseit.com/hauseit-buyer-closing-credit-nyc/
How to Make an Offer on a Condo in NYC: https://www.hauseit.com/how-to-make-an-offer-on-a-condo-nyc/

NYC Buyer Closing Cost Calculator: https://www.hauseit.com/closing-cost-calculator-for-buyer-nyc/

How do you submit an offer on a condo in New York City? We will demystify this topic in the following video. In case you're not familiar, I'm Chris with Hauseit. Hauseit is the largest For Sale by Owner and Buyer Closing Credit company in New York City established in 2014.

If you have any questions about buying and selling real estate and want to learn more about how you can save on broker commissions and closing costs in New York City, please feel free to check us out at https://www.hauseit.com. Contrary to what you might expect, there are no standard offer to purchase forms or submit offer forms in New York City. Some brokerage firms may have a customized version of a submit offer form that they may try to ask buyers to fill out, but it is non-standard and you can usually get away with simply emailing your offer to the listing agent.

With that said, just because your offer is emailed you should still make sure that it has all of the pertinent information that an otherwise submit offer form might have. A full offer submission by email will have the following items: the full legal name of the buyer, the full address of the target property, the price you are offering, the anticipated amount of down payment, any home buying contingencies such as a financing or mortgage contingency plus any inclusions or exclusions.

For example, if the seller wishes to keep the kitchen fixture the chandeliers that would be an exclusion. If the buyer wanted to keep the shades or the motorized blinds that would be in inclusion. The offer email should also have a preferred closing date if any if you wish to be flexible you can always say ASAP or flexible or any time that suits the seller. If you would like you can also include a home buyer letter to the seller or more simply just a short biography about yourself. This can usually be a paragraph or two about your personal and professional history.

Lastly, don't forget to include your attorney contact information. This perhaps is one of the most important parts of the offer because if your offer is accepted the first thing that will happen is the sellers attorney will then send a draft contract to your attorney, so please make sure your contact information for your attorney is there.

If you simply don't have an attorney lined up yet you can always get around this by simply saying I have an attorney on standby or my client has an attorney on standby ready to review the contract ASAP. If your offer does get accepted, then you really must hustle and find an attorney ASAP. Lastly please don't forget to very important attachments you should include with your offer submission. One is your mortgage or loan pre-approval letter.

Second you should also attach a REBNY financial statement. A REBNY financial statement is a short two-page Excel or PDF document that outlines your personal financial situations such as your income assets and liabilities. If you are purchasing all cash of course you won't need to include a mortgage pre-approval letter but in lieu of that you should include proof of funds. Oftentimes, a letter from your bank or your accountant or perhaps even your investment advisor is sufficient.

Sometimes a buyer can simply include a single account statement or a brokerage statement perhaps with the account number crossed out showing sufficient funds to cover the purchase plus closing costs in full. So that's really it that's all you really need to submit an offer by email and to have it be a complete offer submission to the listing agent. If you have any questions and you found this content useful please remember to hit subscribe.

We do come out with content regularly here at Hauseit and of course if you want to learn more about how you can save money when buying and selling real estate in New York City and how you can save up to 6% when selling and up to 2% when buying please contact us team, team@hauseit.com. Leave a comment below, we'll make sure to get back to you and stay tuned for our next video. Thank you so much!

Save 2% When Buying a Condo in NYC: https://www.hauseit.com/hauseit-buyer-closing-credit-nyc/
How to Make an Offer on a Condo in NYC: https://www.hauseit.com/how-to-make-an-offer-on-a-condo-nyc/

NYC Buyer Closing Cost Calculator: https://www.hauseit.com/closing-cost-calculator-for-buyer-nyc/
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Hauseit LLC, Licensed Real Estate Broker
Tel: (888) 494-8258 | https://www.hauseit.com
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