Your Timeline For SellingThe typical time to sell your home in NYC is about 90 days
Hire a Real Estate Agent
Choose an Attorney
Fix it up
Within one hour of listing your property with Compass, I’ll have it featured on compass.com and across a comprehensive and strategic network of well-targeted and highly-visited sites, hand-delivering your listing to buyers. Depending on our target, I’ll decide which of the following sites we should feature your home on:
trulia.com | zillow.com | wsj.com | luxuryestate.com | nytimes.com | realestate.yahoo.com | streeteasy.com | curbed.com | homes.com | nymag.com | realtor.com | brownstoner.com | homefinder.com | nytimes.com | olr.com
Showing the Apartment
* ‘Activity’ is defined as the average number of showings. ‘Weeks’ is defined as the average length of time a property is on the market. Data is based on Compass exclusive seller and buyer activity.
Adjusting the Strategy
Accepting an Offer & Negotiation
Drafting a Deal Sheet
Signing the Contract
Once the contract is signed the major responsibilities shift to the buyer who will get a mortgage commitment letter from the bank (unless they’re paying all cash) and secure approval from the co-op or condo board. However, as your agent I’ll still stay on top of the process and have their broker check in with the relevant parties to make sure everything is moving along.
Order the Stock and Lease
Monitor the Buyer’s Bid to Get a Mortgage
Clear Up any Title Problems (If Necessary)
Submit to an Appraisal
Monitor the Board Approval Process
- Condo The buyer submits a purchase application to the building’s management agent, who will approve it and send it to the board – a process that takes about a week and a half. The board has to waive their right of first refusal, essentially saying that they won’t exercise their right to buy the condo, which typically takes a few days. If the deal is good, condo boards are usually pretty quick to waive their right of first refusal and let the deal close.
- Co-op This is a lengthy process: plan on four to five weeks from start to finish. As your agent, I’ll submit the buyer’s board package to the building’s management agent who then reviews it. This can take anywhere from a day to a couple of weeks, depending on how busy management is. The package then gets delivered to the board. Generally, the board will spend a couple of weeks with the documents before scheduling an interview with your buyer. A couple of days after the interview, you’ll get the approval (fingers crossed). Keep in mind that this can vary widely, depending on the board’s schedule. Some boards only interview buyers during their regular board meetings, which might be only once a month. If that’s the case, you may have to wait until then while they collect other applications for a few co-ops at a time (so they can interview the buyers in a single day).