The Kaplove | Morgan Team A New Breed of Real Estate Agency Team The Kaplove | Morgan Team is a full-service, boutique real estate agency team specializing in residential and luxury properties throughout New York City. We represent sellers, buyers, investors, developers and renters. Our primary mission is to combine our experience, cutting-edge technology, and a new way of doing business to better serve our customers. We are New Yorkers who believe in New York and its inherent and appreciating value. The Kaplove | Morgan team combines the vast financial experience of James Kaplove as a seasoned executive in corporate finance with the interpersonal skills, business acumen and energies of Jessica Eve Morgan to form a new breed of a Real Estate Team, one that offers a concierge-style level of strategic service to their upscale lifestyle clients. James’ financial acumen is often used to help his clients understand the financial implications of some particularly complex transactions. Jessica’s passion and enthusiasm for homebuyers is unmatched. She understands that a home is often your most significant asset and to that end she is driven to give you her complete dedication, attention to detail and expertise to achieve the best possible results with the least amount of stress and uncertainty. Both James and Jessica are active members of the Real Estate Board of New York (REBNY), and are known for their integrity, honesty, moral compass, and hold themselves to the highest level of business ethics. The Kaplove Morgan Team’s focus is on new developments, townhouses, condominiums, co-ops and luxury rental apartments located in New York City. We're changing the face of real estate by empowering and educating our clients so they can make an informed decision to live where they love. With the Kaplove | Morgan Team, it's not about the transaction; it's all about serving our clients and creating value. We are fully transparent throughout the entire time we represent you. This allows for smoother transactions, shorter sell time, speedier acquisition of financing and access to the information and knowledge that is relevant. It also means our clients play a more active role in the process. With the best interest of our clients in mind, our team is built on a client-centric business model. We believe in engaging the consumer, not selling them. We are technologically savvy, have proprietary software such as Virtual Stager, are up-to-date on all real estate trends, and committed to informing clients of every detail of the selling, buying, investing, development and renting processes. This ensures an enhanced experience for the different constituents we represent as our clients.

1. Kaplove & Morgan Buyer’s Guide
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BUYER’S
GUIDE

2. Kaplove & Morgan Buyer’s Guide
CO-OP OR CONDO
OWNERSHIP STRUCTURE
and condominium.
onward is condo.
CO-OP:
CONDO:
discussed further below.
CO-OP & CONDO BOARDS
CO-OP:
them to sell their apartment.
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3. Kaplove & Morgan Buyer’s Guide
CONDO:
Note:
MONTHLY CHARGES AND ASSESMENTS
CO-OP:
CONDO:
APPROVAL TO BUY:
CO-OP:
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4. Kaplove & Morgan Buyer’s Guide
CONDO:
happens.
MINIMUM DOWN PAYMENT AND LQUID ASSEST
CO-OP:
CONDO:
downpayment requirement.
COST
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5. Kaplove & Morgan Buyer’s Guide
SUBLETTING
CO-OP:
CONDO:
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LIFESTYLES & OTHER
CONSIDERATIONS
1 Condo owners favor freedom and autonomy.
2 Co-op owners are more worried about whether the living environment they think they are
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4
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condos may be noisier
the
majority of condos for sale today—tend to be located in less convenient or desirable areas
both inside the apartment (washer/
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TIPOFFS THAT YOU MAY BE THE CONDO TYPE
1
such as Central

7. Kaplove & Morgan Buyer’s Guide
2
3
4 You want to use the apartment as a pied a terre
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6
7 You’re a musician
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10
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STEP 2
FINANCING
interest rate of Y.
surfaces later.
THE COMMITMENT LETTER
MORTGAGE CONTINGENCY VS FUNDING CONTINGENCY
contract with your deposit if the bank fails to fund the loan for any reason except one that is your
fault.
FINANCING FOR INTERNATIONAL BUYERS

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1. Do you have to work with a real estate agent?
2. It’s especially imperative to work with a (good) agent under any of the following circumstances:
1 You’re busy.
2 You are
.
3 You are new to New York City.
4 You are unfamiliar with the neighborhood
5 There are
apartment
6 You are
7 You are buying for investment:

10. Kaplove & Morgan Buyer’s Guide
8 You are buying from a developer:
3. How to pick a good real estate agent
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2
3
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6
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other real estate markets.
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3
4
under an LLC created for this purpose.
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5
FINDING THE RIGHT BUILDING:
‘Full service’ and ‘white-glove’ vs plain old “doorman” buildings:
“Attended elevator” buildings:
Elevator buildings:
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doorman.
Walk-ups:
Prewar vs postwar vs new:
Prewar buildings
Postwar buildings
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13. Kaplove & Morgan Buyer’s Guide
comfortable with.
FINANCIAL HEALTH
STEP 6 SHOPPING FOR THE RIGHT APARTMENT:
The sign-in sheet
How to “do” an open house
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starter apartment.
FINDING A REPUTABLE DEVELOPER:
names too.
BUYING “PRECONSTRUCTION” UNITS
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15. Kaplove & Morgan Buyer’s Guide
FINANCING NEW CONSTRUCTION
TAX ABATEMENTS
1
2
abatement is based on current
3
harder to sell for the price you need.
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NEGOTIATING WITH A DEVELOPER
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2
3
4
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7
8
1 Deposit amount:
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2 Drop dead dates:
MAKING AN OFFER
with you.
NEGOTIATING
1 Don’t talk too much in front of the seller’s agent.
2 Don’t present your best offer first.
3 Do write an offer letter.
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18. Kaplove & Morgan Buyer’s Guide
4 Don’t ask for everything at once with your first offer.
5 Do be nice.
THE PROCESS AND THE EXCEPTIONS
1 “Cond-ops”
2 Sponsor sales
REASON YOU MIGHT BE REJECTED BY A CO-OP BEFORE
YOU EVER REACH THE INTERVIEW.
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1
2 The board suspects you plan to use the apartment as a pied a terre rather than your primary
residence.
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4
5
the apartment.
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THE BOARD INTERVIEW
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2
3
4
5
THE CLOSING
actually close on the apartment.
up.
crawl.
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