When signing a Purchase Agreement to buy a new development condo in New York, don’t forget these two key points!

Hello everyone,

Today, we’re here to take a look at a model home in a new development. Taking this opportunity, let’s talk about two important things to note when purchasing a new condo unit in New York.

First: Closing Timeline

As we can see, this unit is already in a finished condition. But can it be occupied? No! In New York, the following two conditions must be met before closing:

The property must obtain a Temporary Certificate of Occupancy (TCO).

The condo declaration must be recorded.

Even if the property looks beautifully finished, we cannot proceed with the closing if these two documents are not ready.

That’s why we typically include a date in the contract called the outside closing date. This means if by a certain date the unit is not ready to close—for example, if these two documents are missing—the buyer has the right to cancel the contract.

Second: The Punchlist

Before closing, you and your agent will inspect the unit to check, for instance:

Whether all appliances are in working order

If the floors have any scratches

Whether the walls are clean

Everything that needs fixing should be included in the punchlist. While many buildings include a punchlist clause, some don’t and are sold as-is, similar to resale transactions.

In such cases, the purchaser's attorney becomes crucial to check if a punchlist clause exists. If not, they should ask why:

Is it because it’s a model unit and thus sold as-is?

Or is the punchlist clause intentionally omitted?

The punchlist is a very important clause, and I recommend including it in the contract.

That’s all for today’s sharing. Bye~

大家好，

我们今天来参观一个新房的样板间，借此也讲一讲在纽约购买新房需要注意的两个事情。

第一个：过户的时间

我们可以看到这个房子现在已经是一个完工的状态，但它可以入住吗？不可以！因为在纽约，过户需要满足两个条件：

房子必须获得临时入住许可（TCO）。

公寓声明文件（condo declaration）需要完成备案。

即使房子现在装修得非常漂亮，但如果这两个文件没有准备好，我们也无法完成过户。

因此，通常在合同中会写入一个日期，称为 最迟过户日期（outside closing date）。也就是说，如果在某年某月还无法过户，比如拿不到这两个文件，买家有权退出合同。

第二个：尾项清单（punchlist）

在过户之前，您和您的经纪人会再次检查房子，查看以下内容：

所有电器是否正常使用

地板是否有划痕

墙面是否整洁

所有需要修复的项目都应列入尾项清单。我们处理过很多楼盘交易，几乎都会包含尾项清单条款。但是，也有一些楼盘没有这个条款，而是按照二手房的 所见即所得（as-is） 条款进行买卖。

这种情况下，律师的作用非常重要，需要核实楼盘是否包含尾项清单条款。如果没有，需要询问原因：

是因为这是样本房，因此按“所见即所得”出售？

还是故意删除了尾项清单条款？

因此，尾项清单是一个非常重要的条款，我建议大家将其写入合同中。

今天的分享就到这里啦！拜拜~

Email: info@zenglawgroup.com

WeChat: zlgnyc

Phone: 917-810-5388

Website: http://www.zenglawgroup.com

WhatsApp:917-810-5388

Telegram: https://t.me/zlgnyc