Buyer Guide & Costs
The purchase process begins with a consultation to review all of your requirements of the purchase so we understand you. On average, it takes 1-2 months to identify a property and approximately 2-3 months to close on the purchase once your property is selected.
Star Cities buyer specialists deliver personalized service focused on putting ease into the purchase process.
Our seasoned professionals are dedicated to your vision is the catalyst for a successful home purchase.
Star Cities is a full service boutique firm that provides our buyers access to every listed property in New York City, properties not on the market, today’s most current market research, and thorough professional guidance. Our agents help facilitate the ‘purchase process’ from start to finish, beginning with an extensive market analysis based upon personalized goals, then narrowing down the search to a focused list of ideal options, allowing for an efficient selection process. We then use our expert understanding of the bidding and closing process, as well as our understanding of incentives and behavioral finance to negotiate strongly in your favor. We provide a platform from which you can effortlessly navigate the complex New York City real estate market with sharp execution, and produce optimal results.
Star Cities has access to virtually every listed property on the market as well as many that are not listed and specializes in condensing the market into a prioritized list to reflect the requirements from your consultation. This enables our clients to sift through properties targeted as matching your search and maximize the efficiency and quality of the process. We follow the market in real time and knowing your requirements will be able to alert you to new properties the moment they come on the market.
The following demonstrates important milestones of the ‘purchase process’:
- Prioritize your personal needs & vision – neighborhood, block, street, space, light, views, building amenities, schools etc.
- Identify your timeline for moving
- Evaluate access to transportation in the target neighborhoods against your work and social needs
- Evaluate building amenities and house rules in terms of your needs (ie; washer/dryer permitted, gym in building, pet policy, storage facilities, etc.)
- Review with you the differences between buying into a condominium or a cooperative building, and the benefits and risks associated with both
- Evaluate your short term and long term budget against buying and owning costs
- Recommend attorneys & mortgage brokers who we know and trust and who specializes in the New York City market
- Obtain mortgage pre-approval
- Review building financials and offering plans with your broker/attorney and ask important questions to protect your interest
- Obtain qualitative information on the history of the apartment and building
- Strategically place an offer and negotiate strongly in your best interest
- Work closely with your broker to gather supporting materials for you mortgage and purchase application
If Purchased Directly from Sponsor: ( ie: new construction)
NYC Real Property Ttransfer Tax
NYS Transfer Tax
Sponsor's Attorney Fee
1% of purchase price up to $500,000
1.425% of purchase price over $500,000
$4 per $1,000 of purchase price