Claudia Looi

Great question. The preparation really depends on the type of home you are selling, especially here in NYC where co-ops, condos, single-family and multi-family homes each require a different approach. May I ask what type of property you have? For example: Co-ops often require unique documentation, board package preparation, financial review, decluttering, and showing readiness that is very different from a freestanding home. Condos involve a lighter approval process but still benefit from staging, repairs, and high-quality marketing. Single-family and multi-family homes may require exterior improvements, landscaping, pre-inspection considerations, and property access planning. Multi-family homes require a different approach because I need to understand if there are tenants (are they paying, is it month-to-month, etc). Once I know the type of home you have, I can give you a step-by-step preparation plan to help you get top value and a smoother sale.

It's not about how often you drop the price. It's about whether your current price matches what similar homes have actually sold for. If your home has been on the market longer than comparable properties or if your price is still higher than recent sold data, the market may be signaling the need for a correction. Before dropping again, look closely at buyer feedback, the home's presentation, marketing exposure, and how it compares to new inventory. Multiple small reductions can make buyers wait for the next drop, while one accurate adjustment based on real data is usually more effective.

I'm a New York realtor, and in NYC a bedroom does not need a closet to be legally called a bedroom. Closets are not part of the legal definition. What matters is that the room is at least 80 square feet, has proper ceiling height, and includes a window for natural light and ventilation. It also needs a door so someone can enter and exit the room normally. If those conditions are met, a room can be considered a legal bedroom even without a closet.

Yes, you can sell a home with the furniture included, but it depends on the buyer and the furniture's condition. Many buyers, especially those relocating, buying a second home, or looking for a turnkey property, are open to purchasing a furnished home if the furniture is clean, modern, and in good shape. In that case, the furniture can even enhance the appeal. If the pieces are older or very specific to your taste, the buyer may prefer the home empty. You can still offer the furniture as an optional add-on or include certain pieces the buyer wants. Just make sure the furniture is well-presented and your agent can negotiate whether it is included in the sale price or handled in a separate bill of sale.

It is common in New York for foreigners to buy homes. A foreigner can purchase property in the United States without being a U.S. citizen or having a green card. There are no citizenship or residency requirements to buy real estate. You can purchase with a tourist visa, through an LLC, or directly under your own name. The primary requirements are valid identification, proof of funds, and completion of standard purchase documents. If financing is needed, some U.S. banks offer foreign national loans, although they usually require a higher down payment and additional documentation. Foreign buyers should also be aware of property taxes, closing costs, and future tax rules such as FIRPTA withholding when they eventually sell.

" PendingaEUR? means the seller has accepted an offer and the home is under contract. Most of the important steps like inspections and negotiations are already done, and the sale is moving toward closing. Whether you can still see the property or make an offer depends on the seller's instructions. In many cases, showings stop once a home is pending.

Yes, you can but it depends on the seller's instructions. When a home is pending, the seller has already accepted an offer and the deal is moving toward closing. Some sellers will still allow backup offers in case the current contract falls through, while others will not accept any additional offers.

In New York, appraisal costs vary based on the type of property and its complexity. For most single-family homes and standard condos and co-ops, appraisals typically range from $300 to $700. Larger homes, multi-family properties, mixed-use buildings, or unique residences can cost $800 or more, since they require additional analysis and comparable data. Your lender orders the appraisal, and the exact fee will depend on the size, location, and type of property being evaluated.

It is not offensive to ask about commission. Agents expect that question. I think the key is to discuss it respectfully and understand what services and value the agent provides. A good agent will explain what is included and how they help you achieve the best result.

A swimming pool can add value, but it depends on the location, the buyer pool, and how well the outdoor space is presented. In colder states like Wisconsin, some buyers view a pool as a luxury for summer living, while others see it as extra maintenance and a waste of money. So the value is often lifestyle-based rather than a direct dollar increase. From my experience as a New York realtor, I recently listed a home in Long Island during the summer when temperatures were consistently in the 80s. The two biggest selling points were the school district and the in-ground pool. Because buyers were touring the home in the heat, the pool became a major attraction and helped the property stand out and sell quickly. If your pool and outdoor kitchen are well-designed and in good condition, they can absolutely make your home more appealing to the RIGHT BUYER (not all buyers), even if they are only used part of the year.

You can hire a 1 percent agent, but you get what you pay for. Discount agents usually offer limited service and may not provide full marketing or hands-on support.

In New York City, many buyers purchase co-op apartments, and in most cases, a traditional home inspection is not necessary. Why inspections are often skipped for co-ops: 1. You're not buying the building structure, you're buying shares in a corporation. 2. Major systemsaEUR"roof, boiler, exterior walls, plumbing stacks are maintained by the co-op When I do recommend a home inspection for a co-op: 1. Ground-floor units to check for water intrusion, drainage issues, or foundation-related concerns 2. Top-floor units to assess potential roof leaks or ceiling water damage When inspections are essential: Single-family homes Townhouses Multi-family properties Condos where you're responsible for more than just the interior In those cases, skipping an inspection can be costly, especially with older properties common in New York City.

Pending means the seller has accepted an offer and the transaction is moving toward closing, but the sale has not closed yet. In most cases, pending homes are no longer actively shown or accepting new offers, though a deal can still fall through before closing.

A bathroom remodel typically increases a home's value by about "50%"70%" of the renovation cost, depending on the scope of work and the local market. Mid-range updates, such as new fixtures, a vanity, lighting, flooring, and a refreshed shower or tub, usually provide the strongest return. High-end or luxury remodels often improve marketability and buyer appeal, but they don't always return dollar-for-dollar value. In many cases, a clean, functional, and updated bathroom helps a home sell faster and with fewer buyer objections, which can be just as valuable as the price increase itself.

Contingent means the seller has accepted an offer, but the sale depends on certain conditions being met, such as inspections, financing approval, or the buyer selling another property. While a home is contingent, the deal is not final, and in some cases, the seller may still accept backup offers if the contract falls through.

To cancel one correctly, review the agreement you signed, as it outlines the cancellation terms and notice requirements. Most cancellations require written notice and may need mutual consent from the agent or broker of record. The best step is to communicate directly with the agent or their brokerage to ensure the agreement is properly released in writing.

In New York, the answer is no, a basement does not count toward a home's official square footage, even if it's finished. When square footage is listed, it includes only spaces above ground. Since a basement is below ground, it's not counted in the total size of the house. A finished basement can be mentioned as extra space, but it must be listed separately and not added to the home's square footage. Including it could be misleading and cause problems later on.

To get the most money when selling your house, focus on pricing it correctly from the start, presenting it well, and choosing the right strategy. That usually means understanding recent comparable sales, making only smart, cost-effective improvements (not over-renovating), and ensuring the home is clean, well-maintained, and easy to show. Professional photos, strong marketing, and proper timing also play a big role. Most importantly, working with an experienced listing agent who understands your local market can help you avoid common pricing and negotiation mistakes that often cost sellers money.

Many listings go live on Thursday because it gives the home visibility right before the weekend, when most buyers are actively searching and scheduling showings. That said, some agents, myself included, often go live on Tuesday or Wednesday. This allows time to notify agents, inform interested buyers, and properly schedule showings before the weekend rush. Ultimately, there isn't one perfect day to go live. With the right pricing and marketing strategy, any day can be a good day to list a home.

In general, you should keep real estate sale documents for at least 7 years, ideally as long as you own the property, and for several years after the sale. These records are often needed for tax purposes, such as calculating capital gains or responding to IRS or state inquiries. While some documents may exist electronically with your attorney, lender, or the county, there is no single place that stores everything for you. It's safest to keep your own copies, either paper or digital, of key documents such as the closing statement, deed, settlement statement, and purchase records. Scanning and saving them digitally is good enough, as long as the copies are clear and complete.

No contingency means the buyer is making an offer without conditions. In other words, the buyer is not asking for protections like a financing contingency, inspection contingency, or appraisal contingency. This type of offer is often stronger and more attractive to sellers because it reduces the chance of the deal falling apart. However, it also means the buyer is taking on more risk, since they are agreeing to move forward without those safeguards.

Closets are included in a home's square footage as long as they are part of the finished interior living space. Spaces that typically do not count toward square footage include areas not intended for regular living, such as garages, unfinished attics, crawl spaces, porches, balconies, or storage areas not part of the main interior. In general, if a space is finished, enclosed, and directly connected to the living area, it is usually includedaEUR"even if it doesn't have its own heat source.

Buying a house now and refinancing later can make sense, but only if the purchase works for your finances today. You should be comfortable with the monthly payment at the current interest rate, without relying on a future refinance. Refinancing is never guaranteed; rates may go down, stay the same, or take longer than expected to drop. That said, buying now can mean less competition and more negotiating power, while refinancing later may lower your payment if rates improve. The best approach is to run the numbers with a lender, understand your payment at today's rate, and make sure the purchase fits your long-term plans before counting on a refinance.

A common guideline is to spend about 5%"10% of your home's value on a kitchen remodel if resale is a concern. This range helps balance improving the look and function of the kitchen without over-upgrading for the neighborhood. Mid-range remodels, such as updated cabinets, countertops, appliances, lighting, and layout improvements, usually provide the best return. High-end or luxury upgrades can look beautiful, but they don't always translate into higher resale value. The key is to match the level of finishes to your home and local market, and focus on updates that improve usability and appeal rather than chasing trends.

A Realtor cannot repair your credit directly or provide credit counseling. However, a good Realtor can connect you with trusted mortgage lenders or credit professionals who can review your credit and explain what steps may help you qualify for a mortgage. While working on your credit, a Realtor can also help you understand what price range makes sense, how long preparation might take, and when it may be realistic to start home shopping.

Commission rates are not set by law and are always negotiable. They do not automatically change based on the home's value. In practice, commission structures can vary. Some higher-priced homes may be offered at a different percentage due to the scope of work, marketing costs, or market conditions, while others are not. There is no standard rule that expensive homes always have lower or higher commission rates. What matters most is understanding what services are included, how the home will be marketed, and how the agent is compensated, rather than focusing only on the percentage.

To sell a house quickly, the most important factors are pricing it correctly from the start and choosing the right strategy. Homes that are priced realistically for the market tend to attract serious buyers faster. If speed is the priority, focus on low-effort, high-impact steps such as decluttering, deep cleaning, and small repairs. Larger renovations usually aren't necessary unless they clearly affect value or buyer confidence. An experienced listing agent can help you decide what's worth doing and what isn't, so you don't spend time or money on improvements that won't meaningfully speed up the sale.

Mortgage pre-approvals typically last 60 to 90 days, depending on the lender. Since you were pre-approved in the fall, you will likely need to update or renew your pre-approval before starting your spring home search. Lenders usually recheck your credit, income, and financial documents to make sure nothing has changed. Getting re-approved is usually straightforward and helps ensure your offer is taken seriously when you find the right home.

You typically do not need to notify your mortgage company before listing your house for sale. However, once the home is under contract, your lender will be involved as part of the payoff process at closing. At closing, the mortgage is paid off from the sale proceeds, and the lender provides a payoff statement to confirm the balance. Your attorney or title company usually handles this coordination. If you have special loan terms, such as a prepayment penalty or a home equity loan or line of credit, it's a good idea to review your loan documents so there are no surprises.

Yes, you can speak with more than one Realtor before deciding who to work with. In fact, it's smart to interview a few agents so you can compare experience, communication style, and local knowledge. Once you choose an agent and sign an exclusive agreement, you'll typically work with that one Realtor. Until then, taking time to meet 2"4 agents and ask questions is completely reasonable and often helps you make a more confident decision.

A quick sale often involves cash offers because they eliminate financing delays and reduce the risk of the deal falling apart. That's why cash buyers can close faster. However, a quick sale can also happen with a well-qualified, financed buyer if the home is priced correctly, marketed well, and the buyer is fully prepared. Cash is common in quick sales, but it's not required.

Buying your first home involves a few key factors, and understanding them early makes the process much smoother. Start by reviewing your finances, credit score, savings for a down payment and closing costs, and a realistic monthly budget. Getting pre-approved by a lender is an important next step, so you know what you can afford and sellers take your offer seriously. You'll also want to understand location, property type, and long-term plans, such as how long you expect to stay and potential future expenses like maintenance or taxes. Working with an experienced Realtor can help you navigate market conditions, make competitive offers, and avoid common first-time buyer mistakes.