New York City Buyers Checklist - Buying Real Estate

Buyer Checklist:

Need help finding the perfect home? Contact Us

1. Budget - Estimate what you want to spend for your down payment as well as monthly expenditures (ie: common charges or maintenance and real estate taxes, monthly mortgage payment, utilities, etc)

2. Obtain mortgage pre-approval

3. Select an attorney who specializes in New York City Real Estate

4. Prioritize your needs - neighborhood, space, light, views, building amenities, etc.

5. Identify your moving timeline

6. Research schools in the selected neighborhood(s)

7. Research access to transportation in the selected neighborhood(s)

8. Evaluate building amenities and building rules in terms of your needs (ie; washer/dryer permitted, pet policy, storage facilities, etc.)

9. When a property has been selected, review building financials with your Elika broker/attorney

10. Work closely with an Elika broker to gather support materials for your mortgage application and Board Package

More: Purchasing Process - Purchasing Timeline - Property Search

Be Prepared:

Be prepared with the following documentation:

Pre-approval letter from your bank or mortgage broker.
Most recent checking and savings bank statements
Two years of tax returns
List of other liquid or non-liquid assets
Most recent 401K or retirement fund statements (if applicable)
Most recent asset portfolio statements (if applicable)
Employment letter verifying your start date, annual salary including bonus
If self employed - letter from your CPA or attorney verifying your salary and net worth

Need help finding the perfect home? Email Us or call 646-452-8490

Resources