Frequently asked questions // Sales
This is just a sample of the questions you need to ask. Buying or selling is a big deal and you need an expert to get it done properly. Contact a DSA Residential Sales expert today to have the best experience possible!
- What is the first step to buying in NYC?
- What is the first step to selling my apartment in NYC?
- Why can’t owners seem to sell apartments on their own?
- What qualities should a good real-estate agent have if they’re to sell my apartment?
- So I want to buy and I found a great DSA agent to work with. What next?
- What is the difference between a condo and a co-op?
- What is a flip tax?
- How much cash should I be prepared to put down?
Find one good real-estate agent. This is such an important decision that you must have expertise on your side. Remember that when you’re looking to buy then real estate agents work for you for free. The owner always pays your agent their commission. It doesn’t cost you one cent!
Find one good real-estate agent. Hmm, that sounds familiar! To get your home sold for the best price possible, you must expose the listing to the entire brokerage community. Remember that 100% of serious buyers are working with real-estate agents at firms all over the city. You want 100% of those serious buyers to be aware of your apartment. The only way to do this is to list exclusively, which allows your real-estate agent to post the listing with every single brokerage. “Open listings” are 80% less effective because no real-estate agent will devote the time and advertising costs necessary to get your apartment sold if another agent can come along and sell it without his seeing a cent of commission. Finding one good exclusive agent is an absolute must; DSA Realty is the best place to find that expert.
Sometimes owners try to sell apartments on their own in NYC. Why aren’t they able to? Because 100% of serious buyers are all working with real-estate agents. Why? Because it is a free service that provides those buyers with expertise, someone to schedule appointments or get keys, and so forth. No serious buyer is going to do all the legwork by himself or herself and conduct a huge search without any expertise. A good sales broker has expertise and tools that are absolutely necessary to get the right price on the market. Sellers that attempt to sell on their own find that only “browsers” or “curious” shoppers are coming to see their apartment. Eventually they get frustrated and call a good agent, but only after they’ve wasted time and money fruitlessly trying to advertise their listing. Sellers that use a broker, even though they do pay commissions to that broker, end up actually selling their apartments. That sounds about right, doesn’t it?
Your agent must have knowledge, commitment, and good salesmanship. Agents must be punctual, reliable, and reachable every time you call them. They can’t be “pushy” or oversell your apartment, which comes off as being fake. If you meet someone who is too “salesy,” the potential buyers won’t like him and your apartment is less likely to sell for the highest price. A good, casual,"real" personality is the best key to a good salesperson in any field. DSA Realty knows this and we train our agents accordingly.
Talk to one of our reputable mortgage brokers so you know your budget and can get “pre-qualified.” That is always the first step. Call your DSA agent for a list of reputable and personable mortgage representatives.
Taxes, common charges, ownership, etc.
This is not really a “tax” so much as a fee charge when a co-op unit is sold. Sometimes the buyer pays the fee and sometimes the seller pays it. It should always be disclosed as to which party will bear the responsibility.
Condo units typically require 10% down and co-ops can be anywhere from 20% typically to 40%, or sometimes even higher. Co-ops also usually require “reserve” cash after the required downpayment. In genereal, condos require less up front but co-ops are cheaper per square foot. Find out the required downpayment amount for each unit you view.
