Buyer’s Experience

Our Commitment to You

Dear [CLIENT],

We are thrilled to embark on this exciting journey with you as we search for the perfect property, be it your new primary residence, a pied-à-terre, a special gift for your children, or an investment property to enhance your rental portfolio. At The W Team, we're your real estate advisors, and your partners.

A Bit About Us: With over $500M in lifetime sales and marketing experience, our track record speaks volumes about our commitment to excellence and client satisfaction. The W Team proudly stands among the top .01% performing teams in the US (WSJ - RealTrends).

Our Approach: Is built on a luxury client experience where we believe great service stems from understanding each person’s unique goals and expectations. Our service is enhanced through partnering with our client to make data driven financial decisions to ensure they make the best long term financial investment for themselves.

Our Commitment and Guiding Principles to You:

Our #1 Priority is Your Best Interest: Your privacy is paramount and your financial interests are fiercely protected. We understand what is important to you and we use that to guide the process.
Thorough market research and valuation of a property : We do the research and data analysis so you wont have to - we ensure you understand the market value of the property you are purchasing.
Tailored Negotiation Strategy: We strategically leverage market dynamics to secure the best negotiation positions. With a keen understanding of property transactions in nyc, we adeptly balance front-end and back-end costs. Our goal is simple: empower you in negotiations, whether through multiple property offers or crafting compelling bids to the sellers. Backed by years of experience, our direct approach maximizes your success in real estate.
Curated Luxury: Experience curated luxury with us. Tailored to your unique goals, our personalized plan takes care of every detail. Picture a private driver for seamless showings, starting your tour with your favorite coffee, and a personalized timeline from contract to close. We anticipate your needs, ensuring the smoothest real estate experience imaginable.

This is our team’s promise and commitment to you as our client.

Maggie Wu
Founder of The W Team

Our Commitment to You

Our Approach is built on a luxury client experience where we believe great service stems from understanding each person’s unique goals and expectations. The W Team service is enhanced through partnering with our client to make data driven financial decisions to ensure they make the best long term financial investment for themselves.

Your privacy is paramount and your financial interests are fiercely protected. We understand what is important to you and we use that to guide the process.

We do the research and data analysis so you won't have to - we ensure you understand the market value of the property you are purchasing.

We strategically leverage market dynamics to secure the best negotiation positions. With a keen understanding of property transactions in nyc, we adeptly balance front-end and back-end costs. Our goal is simple: empower you in negotiations, whether through multiple property offers or crafting compelling bids to the sellers. Backed by years of experience, our direct approach maximizes your success in real estate.

Experience curated luxury with us. Tailored to your unique goals, our personalized plan takes care of every detail. Picture a private driver for seamless showings, starting your tour with your favorite coffee, and a personalized timeline from contract to close. We anticipate your needs, ensuring the smoothest real estate experience imaginable.

Let’s Get Started

Fill out our buyer questionnaire so that we know how to help you find the perfect home.

Go To Questionnaire

Tailored Experience

Explore With Ease

Meet your private driver, Arthur! He will pick you up and drop you off for all scheduled appointments. We will provide both digital and physical copies of your customized tour sheet so you have full knowledge at every turn.

Data Driven Approach

We employ a meticulous, data-driven approach to valuing the property you would like to make an offer on. We incorporate past sales insights with a precision adjustment for factors like amenities, unit condition, exposure/views, the market trends, and location to determine the value for your property.

Meet Every Deadline

It goes beyond signing the contract. We will send you a customized google calendar invitation to all key milestones to ensure all parties are accountable. We are here for you every step of the way.

Partners without Expiration

We've curated a comprehensive network that ensures a seamless and stress-free process for you. Whether you're seeking restaurant recommendations, assistance with coordination during your move, or any other aspect of settling into a new home, we've got you covered.

The Steps

1 - 3 days

OBTAIN A PRE-APPROVAL LETTER

Before beginning your search, your first step is to get pre-approved for a mortgage. We are happy to introduce some of our trusted mortgage broker partners. Based on your income and credit history, the mortgage broker will determine how much the bank will lend you, which will help you determine the price range for your search.
Property Search and Tours

We search and tour at your pace. Fill out your buyer questionnaire and we will do the rest!
1 - 5 days

Make An Offer & Negotiate

Once you have seen a home you like, you cab make an “offer”. Reach an agreement with the seller on price and terms.

In New York, offers are non-binding and both the seller and the buyer can back out until the contract is executed and the initial deposit is wired. The W Team is here to advise you on pricing and negotiation strategy every step of the way.
~ 1 week

Due Diligence & Contract Signing

in a New York City real estate transaction, both the seller and buyer are represented by a NYC real estate attorney. When the seller’s attorney drafts the contract, the buyer’s attorney performs “due diligence” - reading minutes, reviewing financial statements for the building, etc.

This is to ensure that the property you are buying has no outstanding issues, liens and liability.
1 - 2 days

Contract Execution and Deposit

After all terms are agreed on, the buyer signs the contract and returns it to the seller’s attorney along with a 10% deposit simultaneously. The seller executes the contract upon receipt of the wire. A contract is binding upon execution from both parties.
4 - 8 weeks

Financing & Board Application

Now that you are in contract, the next step is to finalize your mortgage application and obtain a commitment letter from the lenders. We will take care of scheduling the appraisal with your bank to ensure we are on track. In conjunction with the financing process, we will assist you in preparing your board package to obtain board approval so that we can schedule a closing date.
1 day

Walkthrough and Punchlist

Once we receive board clearance for closings, we will schedule a walkthrough for your property to ensure it is in the condition as specified in the contract. Our team will be there with you to ensure a second set of eyes while we write the punchlist. We can also recommend a professional inspector for this process. This punchlist will be attached to your contract for your protection.
1 - 3 hours

Closing Day

Congratulations, you made it! Our team has prepared a special closing gift for your big day!

Welcome home.

FEE

ESTIMATED COST
Attorney
Your Attorney

Consult your attorney ~$2,599 - $5,000+
Bank
Points

`0 - 3% of the loan value
Bank Application, Credit Check, etc.

$400 - $600
Bank Attorney

$900 - $1,500
Appraisal

$300 - $1,500
Tax Escrow

~ 2 - 6 months of property taxes
$25,000,000 or more

3.90%
Mortgage Recording Tax

1.8% of mortgage amount > $500,000
1.925% of mortgage amount > $500,000+
Mortgage Origination Fee

~0 - 3% of loan amount
Building
Board Package Processing Fees

$500 - $1,200
Move-in Fee

$200 - $1,000
Move-in Deposit

$500 - $1,500 (refundable)
Common Charges Adjustment

Pro-rated during the month of closing
Condo Credit Check

$300 - $500 per buyer
New Development
Residential NYC Transfer Tax*

1% < $500,000+
1.425% > $500,000+
Progressive NY State Transfer Tax*

0.4% for Residential transactions < $3M
0.65% for Residential transactions < $3M
Government & Title
Recording Fees

$250
Title Insurance

~ 0.45% of purchase price
Municipal Searches

$350 - $500
Real Estate Tax Adjustment

Pro-rated amount depends on when the tax is collected
Mansion Tax

$1M to < $2M: 1.00%
$2M to < $3M: 1.25%
$3M to < $5M: 1.50%
$5M to < $10M: 2.25%
$10M to < $15M: 3.25%
$15M to < $20M: 3.50%
$20M to < $25M: 3.75%
$25M or more: 3.90%
Residential Deed Transfers Title

$75
Fee Closer

$100 - $500
Lenders Policy Title Insurance

Rates may vary

FEE

ESTIMATED COST
Attorney
Your Attorney

~$3,500 - $5,000+
Lein Search Fee

$350
Building Fees
Board Package Processing Fees

$500 - $2,000
Credit Check Fee

$100 - $300 per buyer
Move-in Fee

$250 - $500
Move-in Deposit

$500 - $1,000 (refundable)
Maintenance Adjustment

Pro-rated during the month of closing
Recognition Agreement Fee

$200 - $300
Flip Tax

Varies by building: sometimes paid by seller, buyer, or split
Miscellaneous Co-op Charges

Varies by building: consult the co-op's transparent agent & board package
Government & Title
Transfer Tax Filing Fee

$100
Mansion Tax

$1M to < $2M: 1.00%
$2M to < $3M: 1.25%
$3M to < $5M: 1.50%
$5M to < $10M: 2.25%
$10M to < $15M: 3.25%
$15M to < $20M: 3.50%
$20M to < $25M: 3.75%
$25M or more: 3.90%
Bank (only applicable if financing)
Points

0 - 3% of the loan value
Bank Application, Credit Check, etc.

$400 - $600
Bank Attorney

$900 - $1,500
Mortgage Origination Rate

~ 0 - 3% of the loan value
UCC 1 Filing

~ 2 - 6 months of property taxes
Mortgage Recording Tax

$125
Appraisal

$300 - $1,500

Get an Accurate Estimate

Estimate your mortgage payment, including the principal and interest, taxes, insurance, HOA, and PMI. Add your location for more accurate estimates.

$0,000 Your Payment

Let’s go shopping!

Our combined experience brings stability and composure to a process that can often be frantic and unpredictable. We are all seasoned and confident negotiators, and our forward-looking, data-driven instincts allow us to identify and solve problems before they arise. We’d love to help you find the perfect home.

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Contact Details

The W Team

Phone

(917) 596-1474

[email protected]

Address

110 5th Ave New York NY 10011

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Buyer’s Experience

Our Commitment to You

Our Commitment to You

1. Our #1 Priority is Your Best Interest

2. Thorough market research and valuation of a property

3. Tailored Negotiation Strategy

4. Curated Luxury

Let’s Get Started