Step 6


The Selling Process
Explained Step by Step

Selling a Manhattan Apartment




Events That Follow an Accepted Offer

Step 6.


When you accept an offer, the following events will immediately occur. 

  • I will formally submit a document to the agents and lawyers that includes the five elements of the offer, you and your  buyer's social security numbers, telephone numbers, fax numbers, email addresses, and contact information for the agents and attorneys.

  • The two attorneys will introduce themselves to one another and negotiate the terms of the contract.

  • I will provide a copy of the offering plan or prospectus, any amendments that may have occurred, and the last two year's financial statements to the buyer's agent who, in turn, will submit this information to the buyer's attorney.  All of these items you will have given me when you signed the listing agreement.  If you do not have this information, contact your property agent.


The Surprising News About Accepted Offers: An accepted offer means that both parties, at the time of the acceptance, "intend" to enter into a transaction with one another.  However, the buyer is likely to continue shopping for other apartments and, as a result, I need to continue showing your apartment until the contract is signed because the verbal agreement is not enforceable.  Once both parties sign the contract, the deal is final and considered fully executable.

Important: The contract is not enforceable when you have a verbal agreement.  Once both parties sign the contract, the deal is final and considered fully executable. 

1. Finding the Right Broker is Essential

 2. Finding The Right Lawyer Is Critical and Setting the Optimum Price
 3. Pre-Marketing
 4. Marketing and Receiving An Offer
 5. 5 Components of the Offers You Will Receive From Me & Mortgage Contingencies
 6. Steps That Follow an Accepted Offer 
 7. The Contact Of Sale - the Deposit and the Purchase Application
 8. The Board Package - The Board Approval and First Right of Refusal (Co-Ops Only)
 9.  The Final Step - The CLOSING

 Time Table of The Entire Process