Getting to a Fully Executed Contract (FEC) is tough. Around 40% of accepted offers in NYC don't ultimately close because something is discovered or disclosed between the buyer and seller that affects the outcome of the sale including:
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Financial issues - assessments, increases/changes to the underlying mortgage, flip & transfer taxes,
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Political issues- building policies i.e. subletting, pets and laundry
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Legal issues - pending due to overall building decisions being disputed by shareholders
Contracts can take two to three weeks before being fully executed during the due diligence process. Sellers might renege if during this process a buyer outbids your offer. What the FEC?!
Time is of the essence and five (5) business days is the average turnaround time in a typical sale. Many potential issues can be identified or disclosed before making an offer by reviewing building policies, building zoning and financials ensuring an expedited due diligence period.
Before you say 'What the FEC' reach out to me if you're considering buying or selling in 2019!
In Contract - Representing Sellers
I'm excited to announce three sales listings are in contract!
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250 Mercer #C403 - asking $1,200,000
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223 East 4th #16 - asking $700,000
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111 Hicks #6E - asking $425,000
All of these listings beat the days on market by half the time compared to other units in the building & neighborhood! I work all over Manhattan & Brooklyn so if you know someone considering selling in 2019, reach out to me!
In Contract - Representing Buyers!
I'm excited to announce three sales listings are in contract!
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186 8th Street #1B - asking $1,350,000
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30 Fifth Avenue #3G - asking $1,395,000
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145 East 15th Street #6P - asking $799,000
I work with buyers all over Manhattan & Brooklyn, in all price points. My focus is buying a long-term investment that will outperform the market over time due to strong building financials, a compelling floorplan, or low carrying costs relative to the area.
New Development
100 Franklin Launch Event!
I've been attending several of the new developments in Manhattan & Brooklyn. You can follow me on Instagram and see some of the projects I've looked at here:
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