New York City Residential Real Estate · Compass
New York City Residential Real Estate · Compass
Practical guidance for every stage of a Manhattan sale, from preparation through closing.
Complete the Seller Consultation QuestionnaireBuyer and Seller Closing Costs
Preparing a property for market does not necessarily mean undertaking a major renovation. The objective is to identify the improvements most likely to strengthen presentation, reduce buyer objections and improve marketability without spending money unnecessarily. Preparation may include decluttering, removing excess furniture, painting, touch-ups, minor repairs, lighting, floor work, window treatments, storage organization, professional cleaning, staging, outdoor-space preparation, visible maintenance and confirming that appliances and fixtures are functioning. Gerald helps sellers distinguish between improvements that may meaningfully improve the sale and work unlikely to produce an appropriate return.
Learn About Our Staging ApproachAn accepted offer is an important milestone, but it is not yet a signed contract. The buyer’s attorney typically begins due diligence while the seller’s attorney prepares or negotiates the contract. The parties may address building documents, financial statements, offering plans and amendments, board or condo materials, assessments, alteration history, contract terms, financing considerations, closing timing and property-specific questions. Gerald remains actively involved and helps keep the transaction moving toward contract signing.
The final walkthrough normally occurs shortly before closing. Sellers should make sure the property is broom clean, agreed repairs are complete, included appliances and fixtures remain, no new move damage occurred, excluded items are properly removed, there is no exposed wiring or incomplete removal work, plumbing and electrical systems remain operational, utilities remain on for testing, and keys/fobs/access devices are accounted for.
Coordinate closing timing with the attorney; confirm move-out requirements; follow building moving procedures; complete agreed repairs; remove personal belongings; leave the property broom clean; keep electricity and gas operating through the walkthrough; assemble keys and access devices; confirm inclusions/exclusions; coordinate with the managing agent when necessary; discuss insurance cancellation timing; discuss utility termination timing; and confirm forwarding address and mail arrangements.
Utilities should generally remain active through the final walkthrough so the buyer can confirm lighting, appliances and other electrical or gas-dependent systems are functioning. Sellers should avoid terminating service prematurely. Coordinate the appropriate termination date around move-out, final walkthrough and closing.
Manage or transfer Con Edison service →
Gather apartment keys, building entrance keys, mailbox keys, key fobs, garage remotes, storage keys, amenity access devices, alarm information and other property-specific access items. Where possible, provide complete working sets. Building-owned devices may need to be returned or transferred according to managing-agent procedures.
Sellers should speak with their insurance professional about the appropriate date to terminate or modify coverage. Insurance generally should not be cancelled prematurely while the seller still owns or remains responsible for the property.
Co-ops and condos frequently have move-out procedures such as scheduling, elevator reservations, certificates of insurance, move deposits, approved hours and hallway/elevator protection. Confirm requirements with the managing agent or building staff well before move-out.
Closing costs vary by property type, sale price, transfer taxes, flip taxes, attorney fees, building fees, mortgage-related items and other transaction-specific expenses. Gerald can provide a preliminary closing-cost estimate to help sellers understand the likely net proceeds from a sale.
Request a Closing Cost EstimateStart with a conversation about your property and your timing.
Request a Consultation