How to Buy An Apartment In Manhattan.  

This is a step by step process on how to buy an apartment in Manhattan regardless if you're looking to buy a condo, a coop, or a condop. Let's get going.

Brad Christi: So the first step is going to be to perform and own-to-rent analysis. You got to figure out whether or not it makes financial sense for you to own versus rent. The second step is going to be figure out where you want to live. The third step, you're going to have to establish a budget. You're going to want to stick to this because I could tell you right now, whenever you're looking to buy a property in Manhattan, you're always going to want to spend a little bit more and you're always going to want more than what you can get for what you want to spend. So you have to stay within the budget that you establish and you got to do your best to find what you can get for that amount of money.

Brad Christi: After that, you're going to have to determine your search criteria. If you're financing, you've got to get pre-approved for a mortgage, assemble your down payment, connect with an experienced buyers' agent. This is a person who's going to be able to navigate the market, not just show you apartments but also bring you from the beginning all the way to the end. Once you have that buyers' agent locked up, go ahead and start visiting some properties, start going to some open houses, find that place that you love, that you want to submit an offer on.

Brad Christi: The next step is going to be submitting some offers. Following submitting offers, you're going to want to hire a real estate attorney in the event that one of your offers gets accepted. Once you have that accepted offer, you're going to supervise the due diligence process of your team. Once you know everything looks great, you're going to sign the contract and you're going to provide the 10% earnest money deposit along with your contract to the sellers' attorney. If you're financing at this point, you're going to also receive your commitment letter from the bank. This is when you would submit a board application. If you're buying a coop after submitting a board application, you're also going to have to pass the board interview.

Brad Christi: The next step is to perform a final walk-through on the property. Once that's done, you're ready to close. So just head on down to the closing and now you're officially, if it's a condo, on the deed, and if it's a coop, on that proprietary lease. Brad Christi: And that's going to be it for today, everybody. Thank you so much for coming back. Again, my name is

Brad Christi, the number one husband, that's right. The channel where you are is Manhattan Real Estate for Sale. The website where you can always reach me is manhattanrealestateforsale.com. If you like this video, go ahead and smash that thumbs-up finger. If you haven't already, go ahead and subscribe to the channel. Every Monday, I'm going to be providing you with Manhattan real estate information that is both useful and practical. Thank you so much and I will see you next week.