Frequently Asked Questions
HOW DO YOUR FEES WORK?
Whether Buying or Selling the fee will only be paid by the property owner when the property closes. The fee will be a percentage of the total sales price and will be thoroughly disclosed in the listing exclusive agreement prior to putting the unit on the market.
Leasing however, is a bit different and is a component of a market that has transformed into something similar to The Wild Wild West. Our fee is charged to the landlord, is usually one month's rent, and is not required of the tenant. We take a small deposit during the application process and return this amount when leases are signed. The rest of the market is very different, and we are happy to speak with you in more detail about anything you've encountered and what we know to be fair and legal.
CAN YOU GUARANTEE ME A SUCCESSFUL SALE?
No, we cannot. About 40% of all homes that go on the market do not close. We are happy to have an over 80% success rate on our sales and rentals. Talk with us directly about your specific situation and we will discuss the risks and odds of selling with you.
HOW MANY HOMES SHOULD I LOOK AT BEFORE I MAKE A PURCHASING DECISION?
This number ranges from 5 to 25 depending on your needs, situation, and current market. Even if you find your dream property during your very first viewing, we advise you visit a few more homes just to educate yourself on the market. If you have seen over 25 homes and cant choose one, then maybe it is time to change your parameters. Homes are not a commodity but after some time it will become obvious to you and us what parameters must be adjusted to fit into the current market.
How should I prep my home before leasing it?
Download this landlord prep plan and review before you take your home to market. Leasing a home is not a passive income source. You need to plan ahead and have certain expectations or the landlord process could be a very bad experience.
How do I calculate my tax savings on my apartment?
How do I calculate my closing costs when buying or selling?
It is hard or maybe impossible to calculate your closing costs perfectly. Things change even days before the closing. But you should be able to understand the overall costs within 3%. I suggest using an app called "NYC Closing Costs Estimator" which can be found in apple's app store at no cost. Below is a basic outline of these costs. Also read my blog posts here, talking about the current mansion taxes in NYC.