?s re: Buying a condo in NYC

Re: ?s re: Buying a condo in NYC

• Gannon

  January 2012

  There's no real rule of thumb. I'd negotiate with the seller and see what you can do. Are they offering any financing? Preferably, short term financing?

  Good luck

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• koosh ball member

  

  January 2012

  I would be aggressive with the amount you want them to pay for closing costs. Usually in my experience, builders will not lower the price because it'll affect future sales. They will give you cash for closing or other things in order to make it look like you pay the higher amount.
  

  

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• Brit1017

  January 2012

  We bought in NYC in 2010 and were told by our realtor that buyers always pay the CCs in this area and to not even bother asking the sellers. I'm not sure if the builder would be more willing to do so b/c they are trying to get units sold, so it might be worth it to ask, but I wouldn't expect it. The problem with buying here is that there are a lot of buyers out there who will be willing to pay. The best idea might be to hold off and wait until you have the money for the increased down payment and closing costs in hand- at that point, more units may have sold and you could get the lower interest rate on the mortgage.

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• HilaryH1231

  January 2012

  koosh ball:

  I would be aggressive with the amount you want them to pay for closing costs. Usually in my experience, builders will not lower the price because it'll affect future sales. They will give you cash for closing or other things in order to make it look like you pay the higher amount.
  

  This is our plan right now...we asked them to go down about 50% and we didn't get an outright no from the building agent, so we'll see what happens! 

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