THE BUYER & SELLER NOTEBOOK
Practical starting points for Manhattan, Long Island and Queens. For decisions about your own property, begin with a personal consultation.
Prepared for Daimian Dai · Updated 2026-09-11
Start with recent closed sales in the building or comparable properties, then consider competing listings. Floor, views, condition, layout, outdoor space and carrying costs all matter. Asking prices are not sale prices. Discuss comparables, timing and net proceeds with Daimian before setting a marketing plan. A comparative market analysis is not a formal appraisal.
Compare usable space, common charges, property taxes, occupancy timing and work needed within the same budget. For sponsor sales, ask your attorney to review the offering plan, amendments, delivery terms and contract. For resales, examine current building finances, planned repairs and assessments. Renderings and sales materials do not replace contract terms; an older offering plan may not describe current conditions.
Ask your attorney, lender and broker for an itemized estimate showing who pays each cost. Financing, property type, price, sponsor versus resale transactions and contract terms affect the result. Sellers should also model outstanding debt, applicable taxes and negotiated brokerage compensation. Our buyer guide introduces condo, house and closing-budget considerations.
Review ownership, tax residency, tax identification, title documents and signing arrangements with your attorney and tax adviser. A seller treated as a foreign person under U.S. tax rules may face FIRPTA withholding; living overseas alone does not determine that status. Withholding is not the final tax liability, and exceptions or adjustments depend on individual facts. Plan documentation and funds well before closing.
Some lenders offer programs for qualifying overseas buyers. Eligibility, down payment, income and asset documentation, credit, source of funds and the property itself affect financing. Obtain individualized lender guidance before shopping. This website does not guarantee approval, rates or loan-to-value terms; Daimian can help coordinate an introduction.
Verify credentials and brokerage affiliation, review traceable transactions and client reviews, then discuss local experience, representation, communication, scope and fees. Daimian’s profile and selected transactions provide public background. Arrange a conversation about your goals; representation and compensation follow the applicable written agreements.
References: New York Attorney General, Before You Buy a Co-op or Condo; IRS, FIRPTA Withholding and Reporting and Paying Tax on U.S. Real Property Interests. Checked September 11, 2026. General information; obtain individualized legal, tax and financing advice.
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