Buying in NYC

A CEMA (Consolidation, Extension, and Modification Agreement) mortgage is a special type of loan only available in the state of New York. It allows homeowners to modify their existing mortgage by consolidating the old loan with a new loan, thereby reducing the amount of mortgage recording tax that needs to be paid. This can result in significant savings for the borrower.

Have you ever thought about purchasing an investment property in New York City? In this guide, we'll cover everything you need to know about buying an investment property in the greatest city in the world.

New York Real Estate commissions are typically 6%, of which the buyer agent collects half. When you work with one of our experienced NYC buyer agent partners, you can get up to a 2.25% commission rebate.

When searching for an apartment in New York City and subsequently, when you are ready to make an offer, you will often be asked by your real estate broker to submit a REBNY financial statement with your offer and application. This form is, in essence, a personal balance sheet that will illustrate your net worth, and is expected when making an offer to purchase in a NYC co-op building.

Learn about buyer and seller closing costs in NYC with our guide and calculator. Whether you're buying or selling a condo, co-op, or townhouse, we'll cover it all from taxes, bank fees, and legal fees to who pays for what to how to calculate your estimated closing costs.