The Complete Guide to Buying a Condo in NYC: https://www.hauseit.com/buying-a-condo-in-nyc/ <br /> <br />Buying a condo in New York City is a more straightforward process compared to buying a co-op apartment. Buying a condo means that you are purchasing real property instead of shares of a corporation, which is the case if you are buying a co-op in New York City. <br /> <br />While buyer closing costs are higher for condos than for co-ops, condos are a more flexible form of ownership. Condos are more valuable because they have fewer subletting restrictions, and unlike for co-ops, there is virtually no risk that a condo building will reject your application to buy an apartment. <br /> <br />How does a Right of First Refusal work in NYC? https://www.hauseit.com/how-does-a-right-of-first-refusal-work-nyc/ <br /> <br />Buyer's Agents <br /> <br />Have you researched the role of buyer's agents? Are you aware that you can save money on your purchase by requesting a Hauseit Buyer Rebate? <br /> <br />Request a Hauseit Buyer Rebate: https://www.hauseit.com/nyc-broker-commission-rebate/ <br /> <br />Working with an experienced buyer's agent can increase your chances of a successful deal. Better yet, you can save thousands on your purchase by requesting a legal and tax-free buyer broker commission rebate. To request a rebate, head over to https://www.hauseit.com <br /> <br />What happens once you are in-contract to buy a condo in NYC? <br /> <br />Having a signed contract means that you can begin work on your mortgage application. It usually takes two to four weeks to receive a mortgage commitment letter. <br /> <br />Most condos in NYC also require buyers to complete a purchase application. While co-ops can reject buyers at will, the only way a condo can reject a buyer is if the building agrees to exercise its right of first refusal and purchase the apartment under the same transaction terms as your deal. A condo typically has 30 days to waive its right of first refusal and permit you to close on the apartment. <br /> <br />For more New York City Real Estate insider tips and tricks, subscribe to our channel and visit our blog and forum at https://www.hauseit.com
