Tag Archives: Sales

NYC Real Estate – How do you get Deposit Money Back when the deal falls apart?

For protect yourself when you purchase a property, contract is the rules of the game. In Manhattan, when a “meeting of the minds” occurs, the agreement fulfills, you will be asked to sign the contract and 10% of the purchase price of deposit will require for the buyer to show good faith. This money will be held in the seller’s attorney’s escrow account until closing. How does buyer Get Deposit Money back when The Deal Falls Apart? Many buyers easily get the money back with failed inspections or they cannot secure financing because they do their homework and finding the right brokers for them. Please be more cautious if you choose to deal the whole purchase process by yourself. Otherwise the real estate broker will work for you for FREE. Only the seller will be responsible for commission of both buyer’s broker and seller’s broker.

Other useful topical:
5 Tips for Purchasing Real Estate in Manhattan

• Manhattan Real Estate Glossary – the dish on Condos, Co-ops, Condops, Townhouse & Brownstone

What You Can Get For Your Money – The Neighborhoods of Manhattan

• Renting vs. Owning

 

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Manhattan Commercial sales JUMP — Q2 2011

Depending on the report of Eastern Consolidated real estate investment service report, “The jump was due to an increase in large transactions: 25 transactions of $100 million or more closed in the quarter up from 11 in the first quarter. Most of the results show a sharp increase in volume compared to last quarter”. They also said that “The 25 sales of $100 million or more, 14 were office buildings, four were multifamily sales, five were hotels and two were land or conversion sales. Despite the jump in dollar volume, the number of transactions was the same as in the first quarter: 187. These numbers are still preliminary, some transaction data comes in weeks after the quarter closes, but these results show that the market indeed accelerated in the quarter”.

 This big jump was due to the seller coming into the market and properties price is still affordable. According to President, Daun Paris, “Investor demand for Manhattan office assets has far outstripped supply for several years, and as a result, cap rates have dropped to historic lows for this class, that is 4% – 6%, which has finally drawn sellers into the market.”

If you like to read this report, please email me at diana.wu@elliman.com. I will email you as attachment.