Buying a place in NYC

[GGG2020]

Might be smart to wait. A lot of the consequences of coronavirus are still shaking out, and it's impossible to say what will happen to the "NYC lifestyle" you like. I can easily see Manhattan bouncing back in a few months. But I can just as easily see it starting to die - office workers may not come back, tourists may not come back, the businesses they supported may take their sales online or close... It just seems unpredictable right now.

[sw887638]

OP, I recommend you wait. For what you might ask? For the auto loan bubble, the credit card bubble, foreclosures, market crash, second corona wave. Democrats are so dead set on removing Trump from office they'll stop at nothing to make him look bad. If I were sitting on a pile of cash I'd wait for an establishment swamp candidate in the highest office before I made any moves.

[ThatCareerGuy]

Originally Posted by yejoonlee

Hmm that's little different from what I've researched. Granted I only looked into Manhattan area but new developments are asking 10~20% off from their listing prices. (condo wise)

Perhaps! This is why I specified "homes" (as in Single Family Homes), not condos.

[SeventhFloor]

Don't expect us here on C-D to predict where you will be happy or what's best for your pocket. Everybody who claims to know about the market is just guessing based on what they think will happen.

Everyone is agitated and aggravated.

[PruSue]

Originally Posted by mathjak107

"most people can't decide what they should for themselves ... there is little chance
people can answer for you without even knowing a thing about you or your situation .

simple answers to complex involved questions are likely going to be wrong answers"

what about these questions:

.... so you like this house/condo and would like to put in an offer Mr. BPT??



- Have you been pre-approved for a mortgage? (we'll need a copy).



- If no pre-approval -- will you be paying in cash or a cashiers check?



- Do you have X amount of $$ as a down payment on the home?
(anywhere from 10% to possibly 40% of the final negotiated price) ??



- Cash/cashiers check sir? ok, we'll also need a copy of your bank statement as well...........


looks good Mr. BPT111 !

here's the 'offer to purchase' -- give to your lawyer, get thumbs up, then sign and return to us as soon as you can!





great !


We'll submit your offer to Owner...


...be in touch with you soon !