How long does it take to sell an apartment in New York City? <br /> <br />On average, it can take anywhere from two to six months to sell an apartment in NYC. The main stages of selling an apartment in NYC include: <br /> <br />• Marketing the apartment <br />• Negotiating a contract <br />• Applying for a mortgage (if the buyer is financing) <br />• Submitting a co-op board application (if you are selling a co-op): http://www.hauseit.com/nyc-coop-board-package-purchase-application/ <br /> <br />How long does it take to sell an apartment in NYC: http://www.hauseit.com/how-to-sell-an-apartment-in-nyc/ <br /> <br />Due to the traditional six percent broker fee, selling an apartment in NYC is expensive in addition to being time consuming. Fortunately, as a seller you have a number of options for reducing or fully eliminating the traditional New York City real estate commission, including: <br /> <br />• Listing For Sale by Owner using Hauseit’s NYC Flat Fee RLS Package: http://www.hauseit.com/fsbo-nyc/ <br /> <br />• Listing with a Full-Service, REBNY member Listing Agent via Hauseit for just 1% Commission: http://www.hauseit.com/agent-managed-listing/ <br /> <br />The overall time it takes to sell an apartment in NYC depends on a number of factors, including: <br /> <br />Condo vs. Co-op <br /> <br />It usually takes one to two months longer to sell a co-op in NYC compared to selling a condo because co-ops require buyers to submit a rigorous board application process and undergo an interview. <br /> <br />Co-op ‘sponsor units’ and condos do not have the same application process, nor is there any credible threat of the buyer being rejected for these types of purchases. <br /> <br />Condo vs. Coop Pros Cons: http://www.hauseit.com/co-op-vs-condo-nyc/ <br /> <br />Cash vs. financed deals <br /> <br />Financed deals usually take 60-90 days to close after signing a contract compared to as little as 30 days for an all-cash sale. Non-contingent and/or all-cash deals are preferred by sellers because there is little to no risk that the deal won’t go through. <br /> <br />New construction, sponsor sale or private resale <br /> <br />If a new construction building does not have its Certificate of Occupancy yet, it will take slightly longer to close on a new construction unit compared to a traditional private or sponsor resale of existing construction. <br /> <br />Learn More about How to Sell an Apartment in NYC: http://www.hauseit.com/blog/
