ROADMAP TO FINDING YOUR HOME |
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As we move into what looks to be an extremely busy Q2, it’s become apparent to me that the already-competitive NYC home market will be even more so. I want to share with you the tools that I would typically reserve for my clients to give you a leg up against the competition. Below, I’ve laid out a few online tools, battle-tested strategies, plus my M.Kahler Buyer’s Guide which you can find here and below. Please get @ me with any and all questions. I’m here for you! |
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Typically, the only people seeing this are my clients, but I think it’s important to be prepared. I’m sharing my M.Kahler Buyer Guide. Whether you’re a first-time home buyer, or a seasoned investor, it’s good to have a plan. Trust me. |
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TIME-TESTED FORMULA FOR SECURING YOUR HOME |
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1. Establish Your Objective - What kind of property are you buying?
- Primary, Investment, Pied-à-terre, Co-Op, Condo, Multi-Family, Commercial, etc.
- What is your investment thesis?
- What is the desired timeline?
- What is your "Total Monthly Housing Expense" Budget?
- How much should you allocate towards a down payment?
- Be prepared to have additional cash for closing costs (approx. 2%-5% of purchase price) and potential building requirements.
2. Organize Your Search - Assemble your Trifecta:
- Buyer's Broker-Lender-Attorney
- Get a Pre-Approval.
- Many listing brokers and sellers will not allow access without a lone.
- Explore all Rates/Terms/Structures with a Mortgage Lender (I work with the best)
- Determine Your Search Criteria: Visit This Questionnaire.
- Ask me about Payment Matrix Scenarios. Here’s an example:
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4. The Search Begins… - Work in concert with your broker.
- Your broker is your teammate. Establish clear guidelines and expectations for communication, scheduling, and viewing availability.
- Do not reach out to the seller’s brokers on your own - It creates confusion for all involved.
- Let your broker lead the planning, coordination, pricing analysis, and property deep dives.
- "Putting feet in units" is critical for gaining context.
- Seeing things in person vs. online crystallizes things.
- Rely on your broker for a second set of eyes and to provide additional context.
- If you like it, assume 10 other buyers do as well. So act swiftly.
- Attune your criteria and key drivers based on the property seen.
- Give constant feedback to your broker.
- Shifts in your preferences and gut feelings should be communicated.
- Where your search begins may be different from where it ends.
5. Once You're in the Property - Keep an open mind.
- Take in the space: How does it make you feel? Can you envision your life there?
- Tap into your senses: Notice sounds, light, common areas, cleanliness inside and outside, smells, cross-streets, new construction nearby, etc.
- Have your critical questions prepared.
- If you don’t know, your broker should.
- Take photos or notes for recall.
- Debrief with your broker on likes and wishes. This helps sharpen the search criteria.
- Rinse and repeat. Trust the process. Stay vigilant until you find the home that moves your soul.
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575 MADISON AVENUE, NY, NY 10022. 212.891.7000 © 2019 DOUGLAS ELLIMAN REAL ESTATE. ALL MATERIAL PRESENTED HEREIN IS INTENDED FOR INFORMATION PURPOSES ONLY. WHILE, THIS INFORMATION IS BELIEVED TO BE CORRECT, IT IS REPRESENTED SUBJECT TO ERRORS, OMISSIONS, CHANGES OR WITHDRAWAL WITHOUT NOTICE. ALL PROPERTY INFORMATION, INCLUDING, BUT NOT LIMITED TO SQUARE FOOTAGE, ROOM COUNT, NUMBER OF BEDROOMS AND THE SCHOOL DISTRICT IN PROPERTY LISTINGS SHOULD BE VERIFIED BY YOUR OWN ATTORNEY, ARCHITECT OR ZONING EXPERT. IF YOUR PROPERTY IS CURRENTLY LISTED WITH ANOTHER REAL ESTATE BROKER, PLEASE DISREGARD THIS OFFER. IT IS NOT OUR INTENTION TO SOLICIT THE OFFERINGS OF OTHER REAL ESTATE BROKERS. WE COOPERATE WITH THEM FULLY. EQUAL HOUSING OPPORTUNITY. |
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