“Tricia Lee will have a phenomenal career. She’s an entrepreneur ,
that’s what we're all about at Compass.” -Rob Reffkin
A friend of mine introduced me to Tricia Lee when she was in the process of selling her home in Brooklyn. Tricia Lee was extremely personable and professional when we met. She presented me with the comps in my neighborhood and suggested a price for me to list my property. Beautiful pictures were taken of the property within days and it was listed. Tricia Lee explained everything I needed to do to prepare the property and wiithin a month we had a potential buyer. Tricia Lee gave me a time-frame for my closing and it happened almost to the day. I would be very happy to refer Tricia Lee to anyone interested in buying or selling a home
Tricia was my third Agent. She told me my house was listed too high, something the other two eluded to but caved in to my demands. She was the only Agent who explained why in vocabulary I could understand. My house was listed at 200k less than what I wanted. On Super Bowl Sunday over thirty people showed up for her first Open House. This was twenty five more than had showed for the three previous ones combined. I had over 5 offers within a few days, this turned into a bidding war. A few months later I closed with a deal that was as much as my original asking price. She is bright, personable, prepared and very shroud. Looking forward to working with her in the future
Selling my property with the help of Ms. Tricialee Riley was a valuable experience. She was extremely competent and professionally handled multiple procedures involved in this transaction. I was constantly updated and lead through every step of the process with thorough explanations. Ms. Riley is not afraid to take risks; she thinks out of the box. I was able to personally view her success and the satisfaction she gained from helping me, her client. Her involvement, passion and energy should be set as an example of a high work ethic that all employees should follow.
Tricia Lee was really great to work with through the whole process. This was my first apartment and she 1) walked me through the process, 2) gave helpful advice and recommendations and 3) listened to what I needed and wanted. I think it sums it up to say that it felt like she was on my side the whole time. That is what I needed and I would happily recommend Tricia to anyone looking for similar help.
Tricia Lee helped us with our first home purchase. She knows Brooklyn in and out and found us our new home. Efficient, organized and a strong negotiation. She will be doing all of our rental business also!Thank you Tricia Lee for your professionalism, expertise and knowledge. We are extremely happy with our purchase.
Tricia is an amazing broker. Extremely knowledgable, great communicator and excellent follow through. She was so helpful throughout the entire process of buying our home in Brooklyn and went well above her job duty when helping us. We would highly recommend Tricia as professional broker with lots of integrity.
THE BROKER. Sellers, not buyers, pay the broker fee. So, your broker works for you at no direct cost. A broker will shepherd you through the process from the first open houses until you close on the sale, helping to negotiate and navigate any sticking points along the way. To find the right one, talk to friends and listing agents at open houses, and look for agents with expertise in the neighborhoods you like.
THE LENDER. If you need a loan, shop around by talking to lenders at banks both large and small, and to mortgage brokers. Do this before you start shopping.
THE LAWYER. You will need a real estate lawyer to negotiate the contract, review the building’s financial statements and board minutes, and make sure there are no violations against your apartment. A lawyer also orders title insurance and works with your lender to make sure you close on time. Get referrals from your real estate broker, friends and colleagues. Expect to pay your lawyer around $3,000.
CLOSING COSTS. These are the fees, taxes and insurance payments due when a buyer signs a mortgage and takes possession of the property. Closing costs vary based on the purchase price and mortgage size, but they often total in the five figures. Closing costs are substantially higher for condos and houses than they are for co-ops because co-op buyers do not pay a mortgage recording tax, which is about 2 percent of the mortgage. If a property in New York sells for $1 million or more, it triggers a 1 percent mansion tax on the purchase price.
SOME CUSHION. Make sure your savings account has a little cushion in it for unanticipated costs. Even if you’re not buying a fixer-upper, many apartments need tinkering. The furniture from your rental may not fit. The living room may be avocado green. Set aside extra money for a fresh coat of paint, a new kitchen backsplash or a new sofa to make the place a little homier.
PAPERWORK. If you need a mortgage, get your paperwork in order early. Lenders, condos and co-ops ask for financial information like tax returns, pay stubs and bank statements. Co-ops also want personal reference letters. Figure out who will write those letters long before you find your dream home. “You’re going to have to print up a zillion bank statements, letters,” said Pierre Debbas, a Manhattan real estate lawyer. “Get on top of it from Day 1.”
If you need a mortgage, avoid sudden changes 60 days before you close — so no new jobs, new cars or big purchases. Also, be prepared to explain the source of amounts deposited into any of your accounts during this period.
Stand Out From the Crowd
THE LETTER. The field is crowded, so anything you can do to shine makes a difference. Cash is king. However, there are other ways to get attention. Many buyers write letters, singing the praises of the apartment they hope to buy. Danielle Lurie, a Compass sales associate, says letters have helped as many as half of her buyers win bidding wars.
TURN ON THE CHARM. Shari Wyler, who bought a two-bedroom in Washington Heights last year, is convinced her offer won out because she had a great conversationwith the listing agent at the open house. Coops will require an in-person interview after you have had a financial review. Be ready to show the interviewers what an awesome neighbor you would be.
This article originally appeared on NewYorkTimes.com
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