Buyer readiness guide

NYC Buyer Readiness Checklist

Use this checklist to understand whether you are prepared to purchase a condo, co-op, townhouse, or investment property in New York City.

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This page is educational and should not be used to submit sensitive information. Keep financial documents private until you are working through a secure process with your lender, attorney, building, brokerage, or approved application platform.

Financing Readiness

Know your purchase range before you begin comparing properties.

I have spoken with a lender or understand whether I plan to buy with financing or cash. I have a current pre-approval or know what is needed to obtain one. I understand my down payment range, closing cost expectations, and reserve requirements. I know that co-ops, condos, townhouses, and investment properties may have different financing rules.

Timeline Readiness

A clear timeline helps shape the search, offer strategy, and closing plan.

I know whether I want to buy immediately, within 3 months, within 6 months, or later. I understand that NYC contract, board package, financing, and closing timelines can vary. I have considered lease end dates, sale timing, relocation needs, or investment goals.

Property Type Readiness

Different property types come with different ownership experiences.

I know whether I am focused on a condo, co-op, townhouse, or investment property. I have thought through new development versus resale property preferences. I understand that building rules, fees, financing, and approvals may differ by property type. I have a short list of must-haves, nice-to-haves, and dealbreakers.

Monthly Carrying Costs

The purchase price is only one part of the ownership picture.

Mortgage payment, if financing Real estate taxes Common charges or maintenance Homeowner's insurance Utilities and internet Possible assessments or building fees

Co-op and Condo Considerations

Building rules can affect lifestyle, financing, ownership, and resale.

I understand that many co-ops require a board package and possible board interview. I have considered pet policies, sublet rules, renovation rules, and building amenities. I know that building financials, reserves, assessments, and litigation should be reviewed carefully. I plan to involve the right professionals, such as a lender and NYC real estate attorney.

Offer Readiness

Prepared buyers can move thoughtfully when the right property appears.

I can compare recent sales, monthly costs, condition, and building factors before making an offer. I understand that a complete offer may include financing details, attorney information, and proof of funds or pre-approval. I am prepared to review the process calmly before moving forward.

Next Steps

Complete the checklist before beginning your NYC purchase search.

When you are ready for calm, practical guidance, contact Sydney Harewood for help thinking through financing, neighborhoods, property type, and the purchase process.

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Important Note

Purchase requirements, financing terms, closing costs, board requirements, building rules, and investment considerations vary by property, building, lender, attorney review, and applicable law. This checklist is for general educational purposes only and is not legal, financial, tax, or mortgage advice. Do not submit Social Security numbers, bank account numbers, or full financial documents through this page.