Chinese parents buy Manhattan NY condos for son or daughter
Many of our buyers are Chinese parents from out of town or country to buy a luxury condo for their son or daughter.
Asian parents knows the value of sending son or daughter to go to school in United States or aboard, New York is one of the US city that is on top parents lists. New York has a very unique and different market than other parts of the world. Buying condo in Manhattan New York can be complicated and stressful if you are not team up with the right agent as this is a very unique market place unlike anywhere else in the country or world. Many parents who are buying for their son/daughter that goes to school (New York University, Parsons school of design, School of Visual Arts, Columbia University, music school, other well known schools) or simple work in Manhattan New York.
Few key steps to prepare and understand before your home search
- Time frame – is your son or daughter current renting an apartment? This is important to know so you can plan ahead.
- Location – Location is everything in buying Real Estate. Where is the school son or daughter will be going to? Or where is their office? Would you prefer a neighborhood that is closer to where they will be going to daily? Or any specific preference? Manhattan New York neighborhoods vary, many convenient and central neighborhoods are in very much high demand. The buyers for those particular neighborhood must act quickly if they see a property they like.
- 45 days to 60 days IF YOU PLAN ON PURCHASE IT ALL CASH, cash means money in your bank account, this does NOT include any offshore financing or creative financing. (this does not include New development or new construction buildings. If new buildings, it can be much longer depending on the building, or it can be quick) Typically, the quickest we can close would be 45 days.
- 60 days or LONGER if FINANCING: If you are planning on financing this investment, be sure to speak to a local Manhattan lender that is familiarize with the market, the lending rules, and the mortgage products that may be suitable for you and your son/daughter.
- Experienced and efficient Bilingual Real Estate Agent: We are the top producing team that is bilingual in Mandarin Chinese and English. We are also the Manhattan New York market experts to educate you the housing market. Working with us will help you find the most ideal condo for your son or daughter and stress free transaction.