The Buyer's Guide

Finding and securing your home.

From the first conversation to the keys, and every cost in between — the New York purchase explained in plain language: what happens, what it costs, and what we handle so you don't have to.

Start hereDownload the Buyer's Guide

Who we are

A practice built on quality, not volume.

Ari Lopez & Partners is a residential sales practice at Douglas Elliman Real Estate, built for buyers who want a calm, informed, and well-represented path to the right home in Manhattan and Brooklyn — from first apartments to trophy penthouses.

What sets the practice apart is not how many homes we can show you, but how carefully each one is chosen. Every apartment that reaches your shortlist has been read closely first — the building, the numbers, the history — so your time is spent only on homes that deserve it. Some of the best homes never reach the market at all; part of our work is making sure you see them anyway.

Behind us stands Douglas Elliman — a global brand with offices in the world's major markets — paired with personal, discreet representation. As your buyer's broker, we are bound to your interest alone: sourcing, advising, and negotiating for you, and staying accountable from the first showing to the keys.

  • One standard

    Every home, every number, held to it

  • Preparation

    Ready before the market asks

  • Honest numbers

    A clear read of value and cost

  • Discretion

    Your name stays off what it needn't be on

The journey at a glance

Ten stages, one standard.

01The ConsultationThe right home begins with the right questions02The ReadinessStrength on paper wins homes03The SearchIncluding the homes no one else sees04The TourWe see what you might not05The OfferPriced and positioned to win06The NegotiationCalm, prepared, and on your side07The ContractWhere confidence is earned, not assumed08The FinancingFrom commitment to clear-to-close09The ApprovalThe step that defines a New York purchase10The ClosingThe day the home becomes yours
01
Stage one · Understanding you

The Consultation

The right home begins with the right questions.

Buying right starts with clarity. We meet to understand how you live and what you are looking for — the must-haves and the deal-breakers, the neighborhoods, the timeline, and the budget that truly fits your life.

We explain the New York buying process end to end, so nothing ahead is a surprise, and we build the search around your priorities rather than ours. From this first hour onward you have one accountable point of contact — not a rotation of assistants.

    What we handle

  • A private consultation and needs assessment
  • An honest picture of the market
  • A walk-through of the buying process
  • One accountable point of contact
Worth knowing

The consultation is private and without obligation. Come with questions; leave with a plan.

02
Stage two · Knowing your power

The Readiness

Strength on paper wins homes.

Before we tour, we make you a credible buyer. We connect you with trusted lenders for pre-approval, help assemble your proof of funds, and prepare the financial picture that sellers and boards will scrutinize.

We also help you choose a real estate attorney early, so that when the right home appears, you can move with speed and confidence. In New York, sellers weigh certainty almost as heavily as price — a prepared buyer is taken seriously from the first call.

    What we handle

  • Introductions to trusted lenders
  • Mortgage pre-approval or proof of funds
  • A realistic view of your buying power
  • Early selection of your attorney
Worth knowing

Co-op boards often look for financial strength beyond the purchase itself. We tell you early what a building expects, so nothing surprises you later.

03
Stage three · Finding the home

The Search

Including the homes no one else sees.

With your criteria set, we search widely and quietly. Beyond the public listings, we research ownership records, reach out directly to owners, and draw on the Douglas Elliman network and fellow brokers to surface off-market and pre-market opportunities.

You see a curated set of homes worth your time — not an endless feed to sort through. Every home that reaches you arrives with context: the building, its recent sales, and why it earned a place on your list.

    What we handle

  • On-market and off-market sourcing
  • Ownership research and direct outreach
  • A curated, criteria-matched shortlist
  • Honest guidance on every option
04
Stage four · Seeing in person

The Tour

We see what you might not.

We tour on your schedule — virtually or in person — and read each home with a professional eye: light, layout, condition, exposure, noise, and the quiet factors that affect both value and daily life. Where useful, we preview first, so your visits are spent only on homes that merit them.

For buildings of interest, we begin reviewing the fundamentals early — financial health, rules, and reputation — so your shortlist rests on more than a feeling.

    What we handle

  • Private showings on your schedule
  • A professional read of each home
  • Early review of building fundamentals
  • A shortlist you can act on
05
Stage five · Making your move

The Offer

Priced and positioned to win.

When you find the one, we build the offer that gives you the best chance. We analyze comparable sales, gauge seller motivation, and prepare the REBNY financial statement that presents you at your strongest.

We advise on price and terms together, not price alone, because the cleanest, most credible offer often beats the highest. You will know exactly why we recommend the number we do — and where the ceiling should be — before anything is submitted.

    What we handle

  • Comparable sales and pricing analysis
  • A complete REBNY financial statement
  • Strategy across price and terms
  • A credible, well-presented offer
06
Stage six · Securing the terms

The Negotiation

Calm, prepared, and on your side.

We negotiate firmly and professionally on your behalf — price, contingencies, timing, and what stays with the home — protecting your interest at every turn.

In a competitive situation, we know how to make your offer stand out without overpaying, and when to hold, push, or walk away. You will never be pressured into a deal; you will be advised into the right one.

    What we handle

  • Negotiation on price and every term
  • Strategy for multiple-offer situations
  • Protection of your contingencies
  • Honest counsel on when to walk away
07
Stage seven · Due diligence

The Contract

Where confidence is earned, not assumed.

With terms agreed, the due diligence begins. Your attorney reviews the contract of sale while we help gather the building's financial statements, board minutes, and offering plan — the documents that reveal its true health.

Once you are satisfied with the terms and the contract is signed, your deposit goes into escrow and the home is on its way to becoming yours.

    What we handle

  • Coordination with your attorney
  • A review of building financials and minutes
  • Inspection guidance where appropriate
  • Contract signed and deposit in escrow
Worth knowing

In New York, nothing is binding until contracts are signed — a home can be shown, and offered on, until then. Preparation and pace are your protection.

08
Stage eight · Funding the purchase

The Financing

From commitment to clear-to-close.

With the contract signed, your loan moves forward. We help keep the application on track, coordinate the appraisal, and watch the calendar so your mortgage commitment lands within the dates your contract allows.

We anticipate the questions lenders ask and resolve them early, helping protect your financing contingency and your deposit.

    What we handle

  • Support through the loan application
  • Coordination of the appraisal
  • Tracking toward your commitment
  • Protection of your financing contingency
09
Stage nine · The building's approval

The Approval

The step that defines a New York purchase.

For co-ops and many condominiums, the building must approve you. We help assemble a complete, compelling board package — financials, references, and disclosures — and prepare you thoroughly for the interview.

We know what boards look for, and how to keep a strong application from stumbling on a detail. The package leaves our hands only when it is ready to be approved.

    What we handle

  • A complete, well-prepared board package
  • A completeness review before submission
  • Thorough interview preparation
  • Coordination with the managing agent
10
Stage ten · Receiving the keys

The Closing

The day the home becomes yours.

In the final stretch we confirm the clear-to-close and conduct a final walk-through to ensure the home is delivered exactly as promised.

At the table we stand with you until the deed and the keys are in your hands — and your new chapter begins.

    What we handle

  • Confirmation of clear-to-close
  • A final walk-through of the home
  • Closing attendance and representation
  • The keys, and a welcome home
Worth knowing

Most purchases run roughly two to three months from accepted offer to closing; co-ops tend to run longer than condos because of the board process. We manage the calendar so you don't have to.

Understanding the market

Four ways to own in New York.

Shares · Proprietary lease

Cooperatives

You buy shares in a corporation that owns the building, with a proprietary lease to your home. Most of Manhattan — often better value, but with board approval, financial scrutiny, and rules on financing and subletting.

Real property · Deed

Condominiums

You own your home outright by deed, as real property. More flexibility, simpler financing and subletting, and fewer hurdles — typically at a premium to comparable co-ops.

Sponsor sale · Offering plan

New Development

Newly built or fully converted condominiums sold by a sponsor under an offering plan — modern systems and amenities, with their own timeline, deposits, and (often) buyer-paid transfer taxes.

Fee simple · Whole building

Townhouses

An entire building owned in fee simple — the most privacy and freedom, and the most responsibility. Single- or multi-family, often prewar, prized and limited in supply.

The numbers · The mansion tax

A tax that arrives at closing.

A one-time New York State transfer tax paid by the buyer at closing on any residential purchase of $1,000,000 or more. The rate rises with the price and applies to condos, co-ops, and houses alike.

An example

A $5,000,000 condominium falls in the 2.25% band — a mansion tax of $112,500, due at closing.

Important: the rate applies to the entire purchase price, not only the portion above $1M. Estimates only — confirm with your attorney.

$1,000,000 – $1,999,9991.00%
$2,000,000 – $2,999,9991.25%
$3,000,000 – $4,999,9991.50%
$5,000,000 – $9,999,9992.25%
$10,000,000 – $14,999,9993.25%
$15,000,000 – $19,999,9993.50%
$20,000,000 – $24,999,9993.75%
$25,000,000 or more3.90%

The numbers · Closing costs

Beyond the purchase price.

For a condominium — the most common choice — budget roughly 3–7% of the price in closing costs, more if you finance. Co-ops and townhouses differ. We model your exact figures before you make an offer.

Every buyer

Buyer’s attorney$3,000–$5,000+
Owner’s title insurance~$4 / $1,000 of price
Title & municipal search$350–$500
Recording fees (NYC)$250–$750
Reserve / working-capital fund1–2 months’ charges
Mansion tax (if $1M+)1.0%–3.9%

If you finance

Mortgage recording tax (NYC)1.8%–1.925%
Bank fees & application$750–$1,650
Appraisal$500–$2,000
Bank attorney$1,000–$2,000
Mortgage title insurance~$1 / $1,000 of loan
Move-in deposit / fee$500–$1,750

Representative figures for a condominium purchase; co-ops and townhouses differ. All figures vary by building, lender, and transaction — not legal or tax advice. Your attorney will provide a precise schedule.

The numbers · An example

A purchase, walked to the dollar.

The purchase

Purchase price — financed condominium$2,500,000
Financing (70%)$1,750,000
Down payment (30%)$750,000

Closing costs

Mansion tax (1.25%)$31,250
Mortgage recording tax (1.925%)$33,688
Owner’s & mortgage title insurance$11,750
Attorney & bank fees$7,000
Searches, recording, reserves & move-in$5,300
Estimated closing costs (≈ 3.6% of price)≈ $89,000
Estimated cash to close (down payment + costs)≈ $839,000

Illustrative figures for a financed condominium, using the schedule above. Co-ops are exempt from the mortgage recording tax and title insurance. Not legal or tax advice — confirm with your attorney.

After the purchase

Beyond the keys.

The relationship outlasts the transaction.

Our work does not end at the closing table. We help you settle in — movers, building logistics, the trusted trades every new owner needs — and remain a resource for the years ahead.

A purchase done well is one you never have to think about again — and one you feel comfortable sending the people you care about to us for. That is what we set out to earn from the very first conversation.

    How we stay with you

  • A smooth move-in and handover
  • Introductions to trusted local trades
  • Market updates whenever you want them
  • A team you can call, for years to come

Begin the conversation

Let’s begin with a conversation.

Tell us what you are looking for — the home, the timing, the way you want to live. We talk for fifteen minutes, and if it makes sense, the search begins. We will listen first, advise honestly, and represent your interest alone, from the first showing to the keys.

Start hereDownload the Buyer's Guide
917.648.4333aalopez@elliman.com

Selling instead? Read the Seller's Guide

Ari Lopez

“The work happens before the transaction.”