Unique Lofts and vacant Single and Multi-Family Townhouses for Sale, Rent and Real Estate Investment in Manhattan and Brooklyn
Discrete Exclusive Buyer’s Brokers NYC
Unique Lofts for Sale NYC
Townhouses for Sale NYC
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Brooklyn Brownstones for Sale
Real Estate Investment – Domestic and Foreign Investors
OHM is a discrete exclusive buyer’s broker specializing in unique lofts, vacant single and multi- family townhouses, new construction condos and other NYC properties for sale, rent and real estate investment. Our boutique brokerage offers confidential real estate services to a wide variety of private clients including international investors, national and foreign executives, relocating foreigners and the film industry.
We guarantee absolute confidentiality and outstanding real estate services including free LLC formation, in-house legal advice, unbiased market research and expert negotiation skills. OHM brokers focus on quality over volume and our selected clients receive our full uncompromised attention and loyalty. We discretely represent many film industry, finance and other high-wealth buyers, zealously guarding their privacy and accommodating security and any other needs they may have. Contact us for a confidential consultation to discuss how we can assist you with your particular real estate transaction.
How to Beat the NYC Real Estate Market – 3 Easy Tricks
1. Be Ready with a Professional Offer Package including a Financial Statement, Conditional Mortgage Commitment and a Bio
The difference between a pre-approval letter and conditional approval is that mortgage pre-approval means absolutely nothing. The bank is not required to offer financing based on a pre-approval letter. The seller knows this. A conditional commitment letter means that you are Approved, pending compliance with specifically stated conditions. If you know that you will definitely get financing, you can make a mortgage non-contingent offer, which gives you an edge against foreign all-cash real estate investors. Most of the time, a mortgage non-contingent offer is as good as an all-cash offer. While NYC artist’s and industrial lofts present unique challenges for financing, a good NYC buyer’s broker will help you get a conditional mortgage approval in a short period of time.
A good buyer’s broker will also help you fill out a Financial Statement disclosing only what’s necessary and prepare a professional offer and a short bio for the seller. Sellers want to see that you are serious, committed, ready to close and, most importantly, that you are the right buyer, both financially and personally. And they want to see it in writing. Brokers who call or text to make an offer automatically put you at a disadvantage. In the highly competitive NYC real estate market, every single detail can make the difference between your getting your dream NYC loft home and losing out in a bidding war.
2. Blow the competition out of the water by offering over “ask price” – for a limited period of time.
Many unique lofts, townhouses and even new construction condos in NYC sell in bitter bidding wars. A biding war is a negotiation against yourself – you are fighting in the dark, have no idea how high or how low the other bidders may go and ultimately risk either overpaying or losing out on your dream home. The best way to deal with a bidding war is to strike early, before your competitors have had time to put together their offers. By offering a little over the asking price, for a limited period of time, you control the situation in that the seller has no time to wait for more offers or do another open house. It’s a take it or leave it situation, in which you have the upper hand.
To prevail, you need a good buyer’s broker to show you the listing as soon as it comes on the market, preferably before the open house, help you figure out the real value of the property as well as the probable price at which it will actually sell, and then present the deal to the seller so that it is irresistible.
3. Don’t Reject Co-ops even if you are a foreign investor.
NYC Co-op Boards have a pretty tough reputation but many have quietly started to relax their rules in recent years so don’t summarily reject all co-ops even if you are a foreign investor. Manhattan real estate is almost 80% co-ops, which means you are restricting yourself to 20% of the market if you insist on buying a condo. A good buyer’s broker will weed out the tough co-op boards and show you buildings compatible with your goals and situation. A professionally prepared Board Package and expert advise on how to tackle certain inevitable issues is vital. The best buyer’s brokers will draft reference and bio letters for you, present you in the best possible light and coach you for the Board interview so that you can open yourself to a whole new realm of possibilities in the co-op market.
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