I have no one to blame but myself after I took on a new buyer.
Cindy is an acquaintance who e-mailed me one Friday saying that she was toying with the idea of moving out of her nearly $4,000-a-month rental to purchase an apartment on the Upper West Side. Could we chat sometime? she asked.
I spent a couple of hours with her the next day explaining the process to someone who had lived overseas for decades and, like any first-time buyer in Manhattan, knew little about co-ops and condos, let alone what she needed to do to buy one.
It was a good conversation, in the course of which I went on at some length about steps that Cindy hsf to take to obtain a mortgage, retain an attorney and make an offer before going to contract.
She indicated as we talked that there was some urgency to get moving because (more…)