Frequently Asked
Answers, without the jargon.
Plain-language answers to the questions we hear most from buyers, sellers, and first-time clients navigating the New York market.
How buying in New York actually works.
Manhattan's buying process is famously intricate — co-ops, condos, and townhouses each behave differently. Here's how we move clients through it, step by step.
What are the steps to buy a home in NYC?
We start with a confidential consultation — understanding your criteria, timeline, and financial picture. Once pre-qualified (pre-approval for a mortgage, or verified proof of funds for cash), we tour on-market and off-market inventory. When you find the right home, we submit an offer, negotiate terms, and work with your attorney on due diligence: reviewing building financials, minutes, alterations, and any co-op or condo package. Contract signing follows (in NY, the contract binds both parties only once signed by both). From there: mortgage application if applicable, the board package for co-ops, appraisal and inspection, then closing. A typical deal closes 60–90 days after contract.
What's the difference between a co-op and a condo?
A co-op means you own shares in a corporation that owns the building — along with a proprietary lease to your apartment. The board approves buyers, can restrict financing (often requiring 20–50% down), and reviews a detailed financial package. A condo means you own real property; financing is more flexible, foreign buyers are welcome, and there is typically no board approval — only a right of first refusal. About 75% of Manhattan inventory is co-op, but condos dominate new construction and many luxury segments.
How much do I need to qualify?
Most luxury co-ops require 20–30% down and post-closing liquidity of 1–3 years of maintenance and mortgage payments. Condos are more flexible — 10% down is possible, and international buyers are welcomed. We'll walk you through what a specific building expects before you spend time touring it.
What fees should I expect beyond the purchase price?
Closing costs for a buyer typically run 2–5% of the purchase price. The big NY-specific line items: mortgage recording tax (roughly 1.8–1.925% if financing), mansion tax (1–3.9% sliding scale on purchases $1M+), title insurance, attorney fees, and building-specific move-in fees. We'll prepare a detailed closing-cost estimate before you make an offer.
Can you help with off-market properties?
Yes — many of our most compelling opportunities never reach public listings. Through the vast Compass network and decades of relationships, we regularly access properties before they're advertised and place sellers discreetly. If you're searching for something particular, tell us — we can often find it.
How we position and sell your home.
Great marketing won't save a wrong price, and great pricing still needs great marketing. We treat both as the same work.
What's the first step when I'm ready to sell?
A candid valuation conversation. We study comparable recent sales, current competitive inventory, and the building's specific history. From there, we build a pricing strategy — the goal is not the highest list price, it's the highest sale price, which is not the same thing. We'll also discuss any prep that meaningfully moves the number: staging, paint, minor updates, and (where it makes sense) larger improvements through Compass Concierge.
What does your marketing look like?
Professional photography and video, a custom property narrative, targeted distribution across Compass and our 27,000-strong international referral network, broker previews, and — where appropriate — discreet pre-market exposure. For the right property, we also place editorial coverage in outlets like The New York Times, Bloomberg, and Mansion Global.
How long does it typically take to sell?
It depends on pricing, condition, and segment — but a well-priced Manhattan property typically goes to contract within 30–90 days, and closes 60–90 days after that. We'll give you a realistic timeline specific to your building and asking range before you list.
What's Compass Concierge?
Compass Concierge helps eligible sellers fund pre-sale improvements such as staging, painting, and minor renovations. Fees or interest may apply. Repayment is subject to the loan agreement and can be due before a sale, including when a listing agreement ends or 12 months have passed. We can review the current terms with you before you decide.
What a relationship with The BAHAR Team looks like.
We're a small team by design, intentionally tight-knit. Every engagement is led by Bahar personally.
What makes The BAHAR Team different?
Bahar is a Cornell-trained engineering Ph.D. with a two-decade-plus career advising buyers and sellers. That engineering background shapes how we work: a thoughtful and rigorous approach to pricing, due diligence, and clear documentation. Paired with taste, discretion, and an eye trained on high design — the combination is rare in this industry.
What neighborhoods do you focus on?
We sell throughout Manhattan and Brooklyn, with partners across all of NYC and beyond. We also help clients buy and sell properties in Europe and the Americas. Through the vast Compass network and our international partners, we connect clients with local expertise wherever their plans take them.
Do you work with international buyers?
Yes. Our team speaks English, Mandarin, Persian/Farsi, French, Spanish, and Italian. Through the vast Compass network and our international partners, we help clients buy and sell in New York and beyond, including Europe and the Americas.
Do you handle rentals?
Yes. We handle sales and rentals, helping buyers, sellers, tenants, and landlords. From a first home or rental to an investment property, new development, or major residence, we bring the same care to every client relationship.
How do I start a conversation?
Write us at bahar@compass.com, call 917.297.7067, or use the contact form. Initial conversations are always free, confidential, and without obligation.
Still have a question?
The questions above are the ones we hear most. Yours may not be on this list — reach out and we'll answer directly.
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