Homebuyer’s Timeline

 

  • Setting your goals

    What is your motivation to buy?

    What is your time frame to move?

    Ideal features v. non-negotiables?

    What neighborhood attributes are you looking for?

    What are your goals with your investment? Rent? Flip?

    Education and preparation

    Select a lender for pre-approval process and letter

    Understand current market conditions

    Review contracts and timelines

    Learn about the purchase process

  • Finding your home

    Research neighborhoods of interest

    Notifications of new and off-market listings

    Review listings online with Compass Collections

    Attend open houses and showings

    Market analysis and review of comps

    Offers and negotiation strategies

    Positioning you as the chosen buyer

    Strategize for a possible multiple offer situation

    Negotiate to optimal price and terms

    Leverage agent to agent relationships

    Respond quickly to market changes

  • Escrow Process

    Obtain fully executed contract and open escrow

    Schedule home inspection

    Wire initial deposit to escrow account per terms of agreement

    Notify lender to begin loan process and order appraisal

    Review disclosures and reports

    Contact insurance agent for homeowners coverage

    Provide escrow with vesting (title information)

    Honor timeline and remove contractual contingencies

    Board Application

    Pre Closing

    Perform final property walkthrough

    Verify repairs and property condition

    Transfer utilities to new home

    Obtain home warranty

    Review and approve preliminary title report

    Schedule final walk-through prior to closing

  • Closing

    Review closing statement from escrow

    Meet with escrow to sign loan docs and closing paperwork

    Wire remaining down payment and closing costs to escrow

    Receive recording confirmation and key delivery

    CELEBRATE

    Working Together Again

    Stay in touch

    Providing resources and recommendations

    Referrals, testimonials and online reviews

    Second homes and investment properties

 
 

How we add value

 
 

Strategic Advisors

We take a strategic approach with all of our clients whether you are buying or selling your home. Market conditions relationships and astute neighborhood knowledge are key factors that play into having a winning strategy to get your offer accepted or selling your home as quickly as possible.

 

Steadfast Negotiators

Yimin Ge and The Ge Team are one of the foremost negotiators in the New York City real estate market. We take great ownership in our fiduciary responsibility to our clients, and will thoroughly negotiate from the purchase price to the closing costs.

Insightful Market Analysis

We leverage data in everything we do to support your home purchases with solid market analytics to help you make the most informed decisions. If it’s not a great deal we’d invest in ourselves, we’ll never force it.

 

Support of a Team

We are a team effort that is staffed to support you through the entire process and meticulously oversee the details that come with selling or buying a home. Our dynamic team represents a multi-faceted skillset with prior backgrounds in law, business, marketing, and technology that allows us to be agile and innovate with changing times.

 
 

Renting vs. Owning

6 key benefits to owning your own home

 

Income Tax Breaks

Homeowners can deduct property taxes and mortgage interest paid on their mortgages which reduces the amount of taxes a homeowner has to pay compared to a renter with similar income.

 

Fixed monthly payments

As a homeowner, you have the option to fix your monthly payment for up to 30 years. The payment will not change for the life of the loan. As opposed to renting, where your payment can fluctuate year after year depending on the market and annual rental increases.

 

Improve your credit

Credit scores and ratings typically improve when you take on debt and make consistent payments especially for large items such as home mortgages. As your credit score rises, you fill find that the approval process to qualify for a future loan or line of credit will become easier than for someone with a limited credit history,

Tax-Free on capital gains

When it’s time to sell your home and make a profit, you can avoid paying taxes on the amount you gain up to $250,000 (as a single taxpayer) or up to $50,000 (if you are married and filing together)

 

Build equity and value

Property values will typically rise over time, especially in New York City, thereby increasing your assets. The value increase will give you the option to refinance or take out a home equity line of credit (HELOC) in the future if you wish to use that money for purchasing another property or paying for a remodel.

 

Make it your own

One of the perks of owning your own home is the ability to do what you want with it - remodel the kitchen to your taste, add on another level, open up walls, etc. You are your own “landlord” when choosing to become a homeowner versus a home renter.