Buyer’s Guide
Our Sales guide provides our New York City clients, who wish to buy quality New York City apartments, coops, condos or commercial properties within their budget, with quick and general guidelines to follow. The Sales Guide or Buyers Guide offers our clients with useful information about buying property. See sections on Standard Fund Requirements, General Closing Procedures, Typical Questions Answered, Suggested Mortgage Company Links and Real Estate Terms Defined.
Frequently Asked Questions
How long does it typically take to buy a home in Harlem?
From accepted offer to closing, Upper Manhattan purchases typically take 60-90 days, depending on financing, board approval (for co-ops), and attorney review timelines.
Do I need a real estate attorney to buy property in New York?
Yes. New York State requires an attorney to represent buyers and sellers in residential real estate transactions; Harlem Lofts can recommend experienced local counsel familiar with Upper Manhattan closings.
What's the difference between buying a co-op and a condo in Harlem?
Co-ops require board approval and typically have stricter financial requirements. At the same time, condos offer more flexibility for renting or financing but often come at a higher price point per square foot.
How much should I budget for closing costs as a buyer?
Buyers in NYC typically budget 2-5% of the purchase price for closing costs, which can include attorney fees, title insurance, and mortgage recording tax (for financed purchases).
Does Harlem Lofts work with first-time buyers?
Yes. Harlem Lofts’ Tiered Buyer Program is designed to guide buyers, including first-timers, through the search process with early access to new listings.