How to Make an Offer on a Co-op Apartment in NYC: https://www.hauseit.com/how-to-make-an-offer-on-a-co-op-apartment-in-nyc/
Making an offer on a co-op in New York City is more complicated than submitting an offer on a traditional condo.
Here are the steps for making an offer on a co-op apartment in NYC:
Step 1: Request a Buyer Broker Commission Rebate
Request a NYC Buyer Agent Commission Rebate: https://www.hauseit.com/nyc-broker-commission-rebate/
In New York City, you can save thousands on your co-op purchase simply by requesting a New York City buyer agent commission rebate. Broker commission rebates in NYC make sense for buyers because of the city’s unique commission structure. All commissions are paid by sellers and the total seller commission bill is not reduced if a buyer is unrepresented.
As a result, the services of a buyer’s agent are ‘free’ to buyers. Yet most traditional buyer agents will keep 100% of the commission they earn by representing you.
What if your buyer’s agent shared some of his commission with you in the form of a cash rebate at closing?
Because of the savings on offer, it’s important that you request a buyer broker commission rebate before you make an offer on a co-op apartment in NYC.
Learn About Buyer Broker Commission Rebates in NYC: http://hauseitreviews.com/buyer-agent-commission-rebate-nyc/
Step 2: Prepare Your Co-op Offer Documentation
Before making an offer on a co-op, you will need to prepare at a minimum the following documentation:
Pre-Approval or Pre-Qualification Letter
Completed REBNY Financial Statement
View a Sample REBNY Financial Statement: https://www.hauseit.com/sample-rebny-financial-statement/
It’s also important that your buyer’s agent investigate the building’s financial requirements to ensure that you qualify for the building before making an offer on the co-op.
Step 3: Make an Offer on your NYC Co-op
Once you’ve finalized your offer documentation and deal economics, such as offer price, percentage down and any contingencies, your buyer’s agent will email your offer and supporting documentation to the co-op listing agent.
To request a NYC buyer agent commission rebate, visit https://www.hauseit.com/nyc-broker-commission-rebate/
