{"id":3640,"date":"2018-07-27T14:38:35","date_gmt":"2018-07-27T05:38:35","guid":{"rendered":"https:\/\/nami-newyork.com\/?page_id=3640"},"modified":"2022-04-21T10:22:16","modified_gmt":"2022-04-21T14:22:16","slug":"buy","status":"publish","type":"page","link":"https:\/\/nami-newyork.com\/en\/buy\/","title":{"rendered":"Purchase"},"content":{"rendered":"<h2>Step by step instructions for purchasing<\/h2>\n<div class=\"step\"><strong>Step 1 <\/strong>Free consultation (click to confirm details)<ul class=\"bogo-language-switcher list-view\"><li class=\"en-US en current first\"><span class=\"bogoflags bogoflags-us\"><\/span> <span class=\"bogo-language-name\"><a rel=\"alternate\" hreflang=\"en-US\" href=\"https:\/\/nami-newyork.com\/en\/wp-json\/wp\/v2\/pages\/3640\/\" title=\"English\" class=\"current\" aria-current=\"page\">English<\/a><\/span><\/li>\n<li class=\"ja last\"><span class=\"bogoflags bogoflags-jp\"><\/span> <span class=\"bogo-language-name\"><a rel=\"alternate\" hreflang=\"ja\" href=\"https:\/\/nami-newyork.com\/wp-json\/wp\/v2\/pages\/3640\/\" title=\"Japanese\">\u65e5\u672c\u8a9e<\/a><\/span><\/li>\n<\/ul><\/p>\n<hr class=\"divider\" \/>\n<p>We offer a free consultation to understand our client&#8217;s wishes in order to generate a plan of action for funding and an outline of necessary expenses<\/p>\n<div class=\"step-inner\"><strong>Items covered in our consultation:<\/strong><\/p>\n<ul>\n<li>Usage (investment \u00b7 primary residence) confirmation<\/li>\n<li>Funding plan (your budget and financing options)<\/li>\n<li>Necessary expenses<\/li>\n<li>Required documents<\/li>\n<li>Explanation of pluses and minuses of the purchase<\/li>\n<li>Explanation of the current New York real estate market<\/li>\n<li>Selection of properties suitable to your needs from a huge database of listings<\/li>\n<li>Legal professionals &amp; accountants &amp; architects and other experts as required<\/li>\n<\/ul>\n<p>Once the consultation is completed, we can proceed to the next step.<\/p>\n<\/div>\n<\/div>\n<div class=\"text-center\">\u2193<\/div>\n<div class=\"step\"><strong>Step 2 <\/strong>Property Viewing (Click to see details)<\/p>\n<hr class=\"divider\" \/>\n<p>We shall provide you with listings based on your requests.<\/p>\n<div class=\"step-inner\">We can show in Manhattan \u00b7 Queens \u00b7 Brooklyn \u00b7 Bronx \u00b7 Staten Island.<br \/>\nDuring the showing, we shall give you easy-to-understand explanations about the finer points of the property and provide information on the pluses and minuses of making the purchase.<\/p>\n<p><strong>Introduction points<\/strong>:<\/p>\n<ul>\n<li>Floor plan \u00b7 Sunlight availability \u00b7 Orientation of rooms \u00b7 Views \u00b7 Storage \u00b7 Noise \u00b7 Floor condition \u00b7 water \u00b7 repair spots etc.<br \/>\n\u21d2If you like sunshine and views, it is imperative to ensure that there are no plans for future skyscrapers to be built in front of the building in the future<\/li>\n<li>Amenities (Doorman \u00b7 Gym \u00b7 Pool \u00b7 Laundry \u00b7 Garden \u00b7 Roof Top \u00b7 Parking,etc.)<\/li>\n<li>Access to Public Transportation<\/li>\n<li>Security<\/li>\n<li>The future of the neighborhood<\/li>\n<li>Vacancy rate of surrounding properties<\/li>\n<li>Expected rent<\/li>\n<li>Management fee \u00b7 Real estate tax \u00b7 Repair cost confirmation<\/li>\n<li>For furniture, move the furniture before the offer and check the wall and floor condition.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<div class=\"text-center\">\u2193<\/div>\n<div class=\"step\">\n<p><strong>Step 3 <\/strong>Offer (purchase application) (click to confirm details)<\/p>\n<hr class=\"divider\" \/>\n<p>We also include the negotiation of the terms and conditions in the offer. Also, we shall investigate the latest trading value of similar surrounding properties and inform you on the market price.<\/p>\n<div class=\"step-inner\">Information required in order to submit an offer: Your asking purchase price \u00b7 repair required by owner and other requests\u30fb Social Security Number \u00b7 Address \u00b7 mortgage \u00b7 attorney information \u00b7 closing date \u00b7 If there is a letter of provisional approval of loan from a bank, please attach (This makes the offer more certain)<br \/>\n&#x25b6;<strong>Important!<\/strong><br \/>\nContents of negotiation at the time of purchase of property: price \u00b7 closing date \u00b7 mortgage special contracts \u00b7 repairs<br \/>\nMortgage Contingency: The right for a buyer to terminate a contract without penalty if the loan is not authorized within a certain period of time. Make sure that this clause is included in the contract.<\/div>\n<\/div>\n<div class=\"text-center\">\u2193<\/div>\n<div class=\"step\">\n<p><strong>Step 4 <\/strong>Contract (click to confirm details)<\/p>\n<hr class=\"divider\" \/>\n<p>Generally, a 10% deposit (contract money) is required at the time of the conctact.<\/p>\n<div class=\"step-inner\">The deposit will be kept in an escrow account of the lawyer.<br \/>\n<strong>Checklist<\/strong>:<\/p>\n<ul>\n<li>Financial condition of the property<\/li>\n<li>Ownership check<\/li>\n<li>Information Disclosure (Seller confirms documents that clearly reveal facts of the property stipulated by law to buyer + confirm if mortgage setting, taxes, administrative expenses have been paid)<\/li>\n<li>Home Inspection (Property Survey, Geological Survey, Termite Study, Dangerous Goods \/ Hazardous Area Survey etc)<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<div class=\"text-center\">\u2193<\/div>\n<div class=\"step\">\n<p><strong>Step 5 <\/strong>Loan application (1 to 2 months) (Click to confirm details)<\/p>\n<hr class=\"divider\" \/>\n<p>Preparation of Pre-Approval in advance can shorten procedure.<\/p>\n<div class=\"step-inner\">Let the property appraiser (Appraiser) calculate the appraisal value of the property. Appraiser will objectively evaluate appropriate prices (loan security evaluation of property) based on appraisal standards and standardization style. The loan amount is calculated based on the appraised value, and the mortgage broker suggests the best loan structure.<\/div>\n<\/div>\n<div class=\"text-center\">\u2193<\/div>\n<div class=\"step\">\n<p><strong>Step 6 <\/strong>Board approval from condominium management association (click to confirm details)<\/p>\n<hr class=\"divider\" \/>\n<p>Application to move in. It takes 2 weeks to 4 weeks.<\/p>\n<div class=\"step-inner\">If anything is incomplete in the submitted documents, approval will be delayed as questions are exchanged or additional documents are requested, so we shall review all details before submitting.<\/div>\n<\/div>\n<div class=\"text-center\">\u2193<\/div>\n<div class=\"step\">\n<p><strong>Step 7 <\/strong>Last inspection of the property (closing day) (click to confirm details)<\/p>\n<hr class=\"divider\" \/>\n<p>Allows us to firmly confirm the final inspection of property before closing<\/p>\n<div class=\"step-inner\"><strong>Final confirmation of property<\/strong><\/p>\n<ul>\n<li>Check for appliance malfunctions such as water, refrigerator, air conditioner etc.<\/li>\n<li>When a repair is required, determine who covers the repair costs and confirm the duration of repair time.<\/li>\n<li>If the property is furnished, move the furniture and check the condition of the walls and floors.<\/li>\n<\/ul>\n<p><strong>Bring<\/strong>\uff1a<\/p>\n<ul>\n<li>Lamp (for checking outlet)<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<div class=\"text-center\">\u2193<\/div>\n<div class=\"step\">\n<p><strong>Step 8 <\/strong>Closing (Click to confirm details)<\/p>\n<hr class=\"divider\" \/>\n<p>Completed trading procedure! Thank you for your hard work.<\/p>\n<div class=\"step-inner\"><strong>Closing on the same day:<\/strong>\uff1a<\/p>\n<ul>\n<li>Seller \/ buyer<\/li>\n<li>Seller \/ buyer&#8217;s lawyer<\/li>\n<li>Seller \/ buyer&#8217;s broker<\/li>\n<li>Lawyers from banks<\/li>\n<li>Title Company<\/li>\n<\/ul>\n<p>\u203b\u3000Seller \/ buyer, if you can not come to closing, prepare a power of attorney document that has been notarized in advance (Notary Public).<br \/>\nIn that case of repairs, it is necessary to talk about payment of newly found repair issues at the final inspection. Always be sure to be able to be contacted by telephone during the closing time.<\/p>\n<p><strong>Bring<\/strong>\uff1a<\/p>\n<ul>\n<li>Identification card in English with photo (must have the same name as the contract)<\/li>\n<li>Cash to be paid to the title company $ 200 to $ 300 (tips)<\/li>\n<li>Check<\/li>\n<li>Fire insurance policy<\/li>\n<li>LLC Book (when purchased by a corporation)<\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-2996\" src=\"https:\/\/nami-newyork.com\/cms\/wp-content\/uploads\/2018\/04\/pexels-photo-872957-300x217.jpeg\" alt=\"\" width=\"1001\" height=\"725\" srcset=\"https:\/\/nami-newyork.com\/cms\/wp-content\/uploads\/2018\/04\/pexels-photo-872957-300x217.jpeg 300w, https:\/\/nami-newyork.com\/cms\/wp-content\/uploads\/2018\/04\/pexels-photo-872957-768x555.jpeg 768w\" sizes=\"auto, (max-width: 1001px) 100vw, 1001px\" \/><\/p>\n<p><strong>Amount of time required from the establishment of the contract to the transfer of ownership<\/strong>\uff1a<\/p>\n<ul>\n<li>For cash: 3-6 weeks<\/li>\n<li>For loan use: 1 to 2 months<\/li>\n<\/ul>\n<p>\u203b\u3000We will coordinate real estate lawyers, accountants, mortgage brokers and real estate appraisers.<\/p>\n<\/div>\n<\/div>\n<h2><span style=\"font-weight: 400;\">Why invest in New York? 10 reasons<\/span><\/h2>\n<h3><span style=\"font-weight: 400;\">\uff11\uff0eMarket price growth\u3000<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Capital gain: People and money gather in New York from all over the world. New York property has seen a continued a moderate rise for many years. In the past, due to disasters and the financial crisis, property prices dropped by about 10%, but prices have returned to their previous levels and have continued to gradually rise since.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Below is the average price graph properties from 1990 to 2017. You can see that it is gently sloping upward.<\/span><br \/>\n<img decoding=\"async\" src=\"https:\/\/nami-newyork.com\/cms\/wp-content\/uploads\/2018\/05\/kakaku-suii-e1526544055264.png\" alt=\"\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-2167\" src=\"\/\/localhost:3000:3000:3000:3000:3000:3000:3000:3000\/yamaki\/cms\/wp-content\/uploads\/2018\/03\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2018-03-10-17.15.59-1024x603.png\" alt=\"\" width=\"640\" height=\"377\" \/><\/p>\n<h3>\uff12\uff0ePopulation growth continues in contrast to developed countries<\/h3>\n<p>Real estate is location, location, location.<br \/>\nEspecially in New York, the risk of declining property prices due to declining population is very small.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/nami-newyork.com\/cms\/wp-content\/uploads\/2018\/05\/jinko-suii-e1526544035791.png\" alt=\"\" \/><\/p>\n<h3>\uff13\uff0eHigh liquidity<\/h3>\n<p>More than 90% of the entire real estate market is second hand and new construction is less than 10%. Prices will not go down even if it is 2nd hand property, and prices will rise along with the market. Americans will change their houses three times in their lifetime. The second-hand market is also stable. Valuations of used property are high and the market price is stable. Property values are judged by the state of the building, not by the year in which it was built.<\/p>\n<h3>\uff14\uff0eTransparency of the real estate distribution system<\/h3>\n<p>Since the prices are public, there is complete transparency.<br \/>\nThe trading of real estate through escrow is very reliable, and there is no fraud.<br \/>\nEscrow is a settlement maintenance system for real estate transactions in which a third-party organization in a fair position acts on behalf of the transfer of ownership to the buyer and keeps the money until the transaction is officially completed.<\/p>\n<h3>\uff15\uff0eHave a stable property in dollars<\/h3>\n<p>Stable earnings can be obtained for a long time.<br \/>\n\u2192 Risk hedge against your currency depreciation<br \/>\nHaving foreign currency assets can counter risks against the weak yen.<\/p>\n<p>Example: Purchase of property at 1 dollar 100 yen<br \/>\n$ 500,000 \u00d7 100 yen = 50,000,000 yen<\/p>\n<p>If one dollar moves to the yen depreciation of 120 yen &#8230;<br \/>\n$ 500,000 \u00d7 120 yen = profit of 60,000,000 yen \u2192 10,000,000 yen<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-2981\" src=\"https:\/\/nami-newyork.com\/cms\/wp-content\/uploads\/2018\/04\/pexels-photo-358647-200x300.jpeg\" alt=\"\" width=\"357\" height=\"536\" srcset=\"https:\/\/nami-newyork.com\/cms\/wp-content\/uploads\/2018\/04\/pexels-photo-358647-200x300.jpeg 200w, https:\/\/nami-newyork.com\/cms\/wp-content\/uploads\/2018\/04\/pexels-photo-358647-768x1152.jpeg 768w, https:\/\/nami-newyork.com\/cms\/wp-content\/uploads\/2018\/04\/pexels-photo-358647-683x1024.jpeg 683w\" sizes=\"auto, (max-width: 357px) 100vw, 357px\" \/><\/p>\n<h3>\uff16\uff0eDepreciation<\/h3>\n<p>A new depreciation period starts from the time of purchase.<\/p>\n<h3>\uff17\uff0eInvestor<\/h3>\n<p>Investors from outside of the U.S. make up approximately 20% of the total, so foreign ownership will not be affected by 100% of the domestic economy, so relatively stable price movements.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-2968\" src=\"https:\/\/nami-newyork.com\/cms\/wp-content\/uploads\/2018\/04\/pexels-photo-269724-300x200.jpeg\" alt=\"\" width=\"1000\" height=\"668\" srcset=\"https:\/\/nami-newyork.com\/cms\/wp-content\/uploads\/2018\/04\/pexels-photo-269724-300x200.jpeg 300w, https:\/\/nami-newyork.com\/cms\/wp-content\/uploads\/2018\/04\/pexels-photo-269724-768x512.jpeg 768w, https:\/\/nami-newyork.com\/cms\/wp-content\/uploads\/2018\/04\/pexels-photo-269724-1024x683.jpeg 1024w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/p>\n<h3>\uff18\uff0eAmazing vacancy rates<\/h3>\n<p>Vacancy rates are only 2-3% throughout the year. There is little to worry about regading vacancies after the purchase and stable rental income can be expected.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/nami-newyork.com\/cms\/wp-content\/uploads\/2018\/05\/kushitsu-ritsu-e1526544078117.png\" alt=\"\" \/><\/p>\n<h3>\uff19\uff0eDisaster risk<\/h3>\n<p>No earthquakes in New York.<\/p>\n<h3>10\uff0eStatus<\/h3>\n<p>As the center of the world, New York has a high brand image.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-2970\" src=\"https:\/\/nami-newyork.com\/cms\/wp-content\/uploads\/2018\/04\/pexels-photo-275582-300x199.jpeg\" alt=\"\" width=\"1001\" height=\"664\" srcset=\"https:\/\/nami-newyork.com\/cms\/wp-content\/uploads\/2018\/04\/pexels-photo-275582-300x199.jpeg 300w, https:\/\/nami-newyork.com\/cms\/wp-content\/uploads\/2018\/04\/pexels-photo-275582-768x509.jpeg 768w, https:\/\/nami-newyork.com\/cms\/wp-content\/uploads\/2018\/04\/pexels-photo-275582-1024x678.jpeg 1024w\" sizes=\"auto, (max-width: 1001px) 100vw, 1001px\" \/><\/p>\n<h2>Three benefits of real estate investment in New York<\/h2>\n<h3>\u2460\u3000High tax savings effect<\/h3>\n<p><strong>\u30fbDepreciation<\/strong><br \/>\nThe value of the building is high, and it is evaluated at the ratio of land 20% and building 80%.<br \/>\nFor residential use, the service life is 27.5 years from the point of purchase and 39 for commercial property is applied for both newly construction and pre-owned.<br \/>\nIn the case of direct investment from Japan, a substantial tax saving can be attained by total profit and loss.<br \/>\n\u2192 If you apply for 1031Exchange, you replace it to the new property, that has more value than current property, at the end of the depreciation, you can grow your assets without paying tax.<\/p>\n<p><strong>\u30fb421A Tax Abatement<\/strong><br \/>\nPreferential measures established by New York City to promote property purchase. The period is from 10 to 25 years, but in the case of Manhattan it is basically 10 years.<br \/>\nFor the first two years, real estate tax has been set at nearly zero, and then every two years thereafter it will rise by 20% and after 10 years the tax reduction effect will cease.<\/p>\n<p><strong>\u30fbCapital gain tax incentive<\/strong><br \/>\nIt is applied when holding property for more than 5 years and using it as a residence for 2 years or more.<br \/>\n$ 250,000 per person<br \/>\nCouple $ 500,000<br \/>\nThere is income tax deduction. In case<\/p>\n<p><strong>\u30fb1031 exchange<\/strong><br \/>\nTax deferral measures related to real estate sales gain. Long-term ownership for more than a year can defer taxes of 15% federal tax + state tax + city tax approximately 35%.<\/p>\n<p>1031 Exchange conditions:<br \/>\n&#8211; For investment purpose.<br \/>\n&#8211; Designate &#8220;Like-Kind&#8221; replacement item within 45 days of the property to be sold and complete the closing within 180 days.<br \/>\n&#8211; 1031 can be used many times.<br \/>\n&#8211; Investment property can be located anywhere in the United States.<br \/>\n&#8211; If the purchased property is cheaper, tax will be incurred on the difference.<\/p>\n<h3>\u2461\u3000Income gain<\/h3>\n<p>In New York, where the rent is high and the vacancy rate is very low, stable rental income can be obtained even if we subtract administrative expenses etc.<\/p>\n<h3>\u2462\u3000Capital gain<\/h3>\n<p>Property prices continue to rise moderately and the possibility that the gradual rise will continue in the future is very high in New York where concern about depopulation is minimal.<br \/>\nParticularly in the newly developed district of Brooklyn \/ Queens, there are also areas where the price has risen extremely quickly in recent years.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-2830\" src=\"https:\/\/nami-newyork.com\/cms\/wp-content\/uploads\/2018\/04\/sell-300x199.jpeg\" alt=\"\" width=\"1001\" height=\"664\" srcset=\"https:\/\/nami-newyork.com\/cms\/wp-content\/uploads\/2018\/04\/sell-300x199.jpeg 300w, https:\/\/nami-newyork.com\/cms\/wp-content\/uploads\/2018\/04\/sell-768x510.jpeg 768w, https:\/\/nami-newyork.com\/cms\/wp-content\/uploads\/2018\/04\/sell-1024x680.jpeg 1024w\" sizes=\"auto, (max-width: 1001px) 100vw, 1001px\" \/><\/p>\n<h2>Two disadvantages of a real estate investment in New York<\/h2>\n<h3>\u2460\u3000Low Yield<\/h3>\n<p>Probable yields in the popular Manhattan area are as low as 2 to 3%, which is unsuitable for investors seeking profits in the short term.<br \/>\nIn the suburbs, there are also areas with a high expected yield.<\/p>\n<h3>\u2461\u3000Foreign exchange risk<\/h3>\n<p>As a result of currency fluctuations, asset diminution may occur when converting to Japanese yen.<br \/>\nWhen making a final tax return in Japan, it is calculated at the exchange rate at the time of purchase, at the time of sale, and the difference is calculated as transfer income (capital gain).<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-2999\" src=\"https:\/\/nami-newyork.com\/cms\/wp-content\/uploads\/2018\/04\/stock-photo-day-trader-screen-with-graphs-and-charts-in-dark-vienna-austria-796042615-300x226.jpg\" alt=\"\" width=\"1000\" height=\"753\" \/><\/p>\n<h4>\u30fbPreparation<\/h4>\n<p>Real estate transactions are smooth if you are prepared in advance.<\/p>\n<h5>Necessary expenses:<\/h5>\n<p>Cash buyer :approximately 3% of the purchase price.<br \/>\nMortgage financing: approximately 6% of the purchase price.<\/p>\n<p><strong>Closing cost for Condominium Apartment (Approximate estimate)<\/strong><\/p>\n<table id=\"table\">\n<tbody>\n<tr>\n<td class=\"b-b-0\">Cash<\/td>\n<td>Attoney Fee<\/td>\n<td>\uff042,000\uff5e\uff043,000<\/td>\n<\/tr>\n<tr>\n<td class=\"b-0\"><\/td>\n<td>Offering Plan<\/td>\n<td>\uff04100\uff5e300<\/td>\n<\/tr>\n<tr>\n<td class=\"b-0\"><\/td>\n<td>Credit check Fee<\/td>\n<td>\uff0450\uff5e150<\/td>\n<\/tr>\n<tr>\n<td class=\"b-0\"><\/td>\n<td>Title Insurance &amp; Search<\/td>\n<td>About $ 700 per $100K<\/td>\n<\/tr>\n<tr>\n<td class=\"b-0\"><\/td>\n<td>Filing Fee<\/td>\n<td>$300<\/td>\n<\/tr>\n<tr>\n<td class=\"b-0\"><\/td>\n<td>CC &amp; RET Adjustment &amp; Insurance<\/td>\n<td>Start from closing date<\/td>\n<\/tr>\n<tr>\n<td class=\"b-0\"><\/td>\n<td>Application Fee<\/td>\n<td>\uff041,000\uff5e2,000<\/td>\n<\/tr>\n<tr>\n<td class=\"b-0\"><\/td>\n<td>Move-in Deposit refundable<\/td>\n<td>$500\uff5e$1,000<\/td>\n<\/tr>\n<tr>\n<td class=\"b-t-0\"><\/td>\n<td>Move-in fee non refundable<\/td>\n<td>$250\uff5e$1,000<\/td>\n<\/tr>\n<tr>\n<td>Additional fees for more than $ 1,000,000 properties<\/td>\n<td>Mansion Tax<\/td>\n<td>1% of purchase price<\/td>\n<\/tr>\n<tr>\n<td class=\"b-b-0\">Mortgage<\/td>\n<td>Attorney Fee for bank<\/td>\n<td>\uff04700\uff5e\uff041,200<\/td>\n<\/tr>\n<tr>\n<td class=\"b-0\"><\/td>\n<td>Handling Charge for bank<\/td>\n<td>0 \uff5e2% of loan amount<\/td>\n<\/tr>\n<tr>\n<td class=\"b-0\"><\/td>\n<td>Mortgage Tax<\/td>\n<td>1.80% for loan amount less than $ 500K, 1.925% for $ 500K or more<\/td>\n<\/tr>\n<tr>\n<td class=\"b-0\"><\/td>\n<td>Mortgage Title Insuracne<\/td>\n<td>$500<\/td>\n<\/tr>\n<tr>\n<td class=\"b-0\"><\/td>\n<td>Application Fee for mortgage<\/td>\n<td>\uff04500\uff5e1,000<\/td>\n<\/tr>\n<tr>\n<td class=\"b-0\"><\/td>\n<td>UCC-1 Filing<\/td>\n<td>$300<\/td>\n<\/tr>\n<tr>\n<td class=\"b-t-0\"><\/td>\n<td>Appraisal Fee<\/td>\n<td>$500<\/td>\n<\/tr>\n<tr>\n<td class=\"b-b-0\">Sponsor unit (Additional)<\/td>\n<td>Transfer Tax (State)<\/td>\n<td>\uff044 per \uff041,000 (0.4%)<\/td>\n<\/tr>\n<tr>\n<td class=\"b-0\"><\/td>\n<td>Transfer Tax (City)<\/td>\n<td>1% for the property price less than $ 500K, 1.425% for over $ 500K.<\/td>\n<\/tr>\n<tr>\n<td class=\"b-0\"><\/td>\n<td>Attorney Fee<\/td>\n<td>\u00a0$ 3,000\uff5e$4,000<\/td>\n<\/tr>\n<tr>\n<td class=\"b-t-0\"><\/td>\n<td>Common Charge<\/td>\n<td>\uff042,000\uff5e\uff043,000<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h5>Required Documents (For everyone who signs the contract \u00b7 English translation required)<\/h5>\n<p>\u2022\u3000W2 Form\u3000 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<strong>\u21d2\u3000<a href=\"https:\/\/nami-newyork.com\/cms\/wp-content\/uploads\/2018\/06\/W2-Form.pdf\">Sample<\/a><\/strong><br \/>\n\u2022\u3000Tax Returns \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0past 1-2 years\u3000<strong>\u21d2\u3000<a href=\"https:\/\/nami-newyork.com\/cms\/wp-content\/uploads\/2018\/06\/Individual-income-tax-return.pdf\">Sample<\/a><\/strong><br \/>\n\u2022\u3000Pay stub \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0past 3 months<br \/>\n\u2022\u3000Employment letter \u00a0\u3000<strong>\u21d2\u3000<a href=\"https:\/\/nami-newyork.com\/cms\/wp-content\/uploads\/2018\/12\/Employment-Letter-en.pdf\">Sample<\/a><\/strong><br \/>\n\u2022\u3000Financial report\u3000 \u00a0\u3000<strong>\u21d2\u3000<a href=\"https:\/\/nami-newyork.com\/cms\/wp-content\/uploads\/2018\/05\/ceba4f1b49f711961592dad0138bc72b.pdf\">Sample<\/a><\/strong><br \/>\n\u2022\u3000Bank Statement \u00a0\u00a0\u00a0\u00a0past 1-3 months<br \/>\n\u2022\u3000Copy of photo ID<br \/>\n\u2022\u3000Reference letter \u00a0\u00a0\u00a0<strong>\u21d2\u3000<a href=\"https:\/\/nami-newyork.com\/cms\/wp-content\/uploads\/2018\/12\/Reference-letter-en1.pdf\">Sample1<\/a><\/strong>\u3000\u30fb\u3000<strong><a href=\"https:\/\/nami-newyork.com\/cms\/wp-content\/uploads\/2018\/12\/Reference-letter-en2.pdf\">Sample\uff12<\/a><\/strong>\u3000\u30fb\u3000<strong><a href=\"https:\/\/nami-newyork.com\/cms\/wp-content\/uploads\/2018\/12\/Reference-letter-en3.pdf\">Sample\uff13<\/a><\/strong>\u3000\u30fb\u3000<strong><a href=\"https:\/\/nami-newyork.com\/cms\/wp-content\/uploads\/2018\/12\/Reference-Letter-en4.pdf\">Sample\uff14<\/a><\/strong><br \/>\nDocuments required by the property are on a case by case basis.<br \/>\nThere are also documents that require notarization (Notarize) which is available at the office of a notary public, major banks in the U.S.A. and the American embassy.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-2994\" src=\"https:\/\/nami-newyork.com\/cms\/wp-content\/uploads\/2018\/04\/pexels-photo-796602-1-300x200.jpeg\" alt=\"\" width=\"1001\" height=\"666\" srcset=\"https:\/\/nami-newyork.com\/cms\/wp-content\/uploads\/2018\/04\/pexels-photo-796602-1-300x200.jpeg 300w, https:\/\/nami-newyork.com\/cms\/wp-content\/uploads\/2018\/04\/pexels-photo-796602-1-768x511.jpeg 768w, https:\/\/nami-newyork.com\/cms\/wp-content\/uploads\/2018\/04\/pexels-photo-796602-1-1024x682.jpeg 1024w\" sizes=\"auto, (max-width: 1001px) 100vw, 1001px\" \/><\/p>\n<h5>\u30fbBroker fee<\/h5>\n<p>Since the seller pays all of the real estate commission at the time of purchase, there is no broker fee required from a buyer.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-2879\" src=\"https:\/\/nami-newyork.com\/cms\/wp-content\/uploads\/2018\/04\/AdobeStock_25775314-300x200.jpeg\" alt=\"\" width=\"1001\" height=\"667\" srcset=\"https:\/\/nami-newyork.com\/cms\/wp-content\/uploads\/2018\/04\/AdobeStock_25775314-300x200.jpeg 300w, https:\/\/nami-newyork.com\/cms\/wp-content\/uploads\/2018\/04\/AdobeStock_25775314-768x511.jpeg 768w, https:\/\/nami-newyork.com\/cms\/wp-content\/uploads\/2018\/04\/AdobeStock_25775314-1024x681.jpeg 1024w\" sizes=\"auto, (max-width: 1001px) 100vw, 1001px\" \/><\/p>\n<p>For a free consultation please do not hesitate to contact us.<\/p>\n<div class=\"inq inq-en\">Contact us<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Step by step instructions for purchasing Step 1 Free consultation (click to confirm details) We offer a free c [&#8230;]<\/p>\n<p><a class=\"btn btn-secondary understrap-read-more-link\" href=\"https:\/\/nami-newyork.com\/en\/buy\/\">Read More&#8230;<\/a><\/p>\n","protected":false},"author":1,"featured_media":2926,"parent":0,"menu_order":7,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"_locale":"en_US","_original_post":"2119","footnotes":""},"class_list":["post-3640","page","type-page","status-publish","has-post-thumbnail","hentry","en-US"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Purchase - NAMI NewYork<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nami-newyork.com\/buy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Purchase - NAMI NewYork\" \/>\n<meta property=\"og:description\" content=\"Step by step instructions for purchasing Step 1 Free 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