BUYER’S GUIDE

Without a doubt, buying a home is ver y di f f icul t , both emotional ly and f inancial ly. The New York real estate market presents very unique challenges. Having an agent who is an expe r t i n t h i s ma rke t and i s up - t o - da t e on marke t t r ends g i ve s you t r emendous

advantage in making the right decisions.

The agents at Trump International Realty are committed to helping you make the right decisions based on your needs and desires. Our real estate professionals are highly qualified and will guide you every step of the way. The Trump International Realty Experience will include assisting you to decide which type of property and what price range is best for you. Utilizing their expertise and superior negotiating skills, your agent will be sure to obtain the best deal for you. Our goal is to

make the process of finding your home trouble free and enjoyable.

212.247.7100

1. CREATE A LIST To get started, we recommend making a detailed list of your needs, and placing them in order of your level of importance. By doing so, your Trump International Realty agent will be able to choose properties that line up with not only your budget, but also your specific needs and desires.

2. MATCHING YOUR NEEDS After reviewing your priority list, your agent will research our exclusive database and will present you with a variety of properties to choose from and will arrange a time for you to view the selected properties. 3. OBTAIN A PRE-APPROVED MORTGAGE LETTER In today’s competitive market the buyer with a pre-approved mortgage letter has a greater chance of winning their dream apartment. Obtaining a pre-approval letter from a bank or mortgage broker is a simple complimentary service that gives the seller confidence. 4. MAKING AN OFFEROnce you have identified your ideal apartment, your agent will submit an offer letter to the seller on your behalf. The offer letter will include detailed information regarding the purchase and the terms of the sale. 5. DEAL SHEETUpon completing all negotiations, your agent will work with the seller’s agent to prepare a “deal sheet”. This will contain all relevant information for the deal, including the seller’s and buyer’s contact information, along with their attorney’s information. 6. CONTRACT OF SALEOnce the seller’s attorney receives the “deal sheet,” they will draft the “contract of sale” and will send it to your attorney for review. After reviewing the contract with your attorney, you will sign it and it will be sent to the seller’s attorney, along with a deposit check (typically 10% of the purchase price). The seller’s attorney will then hold the deposit in escrow until the official closing of sale. Once signed by the seller, the contract is considered fully executed and binding.

Generally, this process should take up to one week, but this depends on the review of the offering plan and the board minutes by your attorney.

7. MORTGAGE APPLICATION As soon as the contract is fully executed, you must immediately forward to your mortgage broker or bank, and complete the mortgage application. The approval process usually takes between 30-45 days to complete. 8. YOUR BOARD PACKAGE - RESALE ONLY Your agent will assist you in completing the board package. Your responsibility is to have available all required documents including financial statements, tax returns and reference letters. Once complete it will be presented to the managing agent of the building for approval. 9. BOARD INTERVIEW - IF YOU ARE PURCHASING A COOP

Once your board package has been reviewed, you will be scheduled for an interview by the Board of Directors of the building. Once the board approves your application, your attorney will begin scheduling the closing. 10. FINAL WALK-THROUGH Prior to closing, you and your real estate agent will walk you through the apartment to ensure that everything is in working order.

11. CLOSING ON YOUR HOME At the closing table you will be joined by the buyer’s and seller’s attorney, seller, lender and management company representative, and both real estate agents. Prior to the closing your attorney will provide you with a closing cost document. Closings are generally held at the managing agent’s office. 12. CONGRATULATIONS! YOU NOW OWN YOUR DREAM HOME.

THE PURCHASE PROCESS

212.247.7100

Buyer’s Attorney Application Fee Credit Report (on Each Applicant) Move-In Deposit Maintenance Adjustment Mansion Tax Application, Credit, Appraisal, Bank Attorney, etc. UCC-1 Filing Recognition Agreement Fee Lien Search

$2,500 and up $500 and up $75 and up $500 to $1,000 (typically refundable) Pro-rated for the month of closing 1% of price when price is over $1 million $2,000 and up $100 and up $250 and up $350 and up

It is prudent to check with a bank/mortgage broker for any additional fees. These

are only estimates. Please confirm specific costs with an attorney and/or bank.

Buyer’s Attorney Application Fee Credit Report (on Each Applicant) Application, Credit, Appraisal, Bank Attorney, etc. Real Estate Tax Escrow Recording Fees Mortgage Tax Title Insurance Municipal Search Managing Agent Fee Common Charge Adjustment Real Estate Tax Adjustment Title Closer Fee Mansion Tax Move-In Deposit

NYC Real Property Transfer Tax NYS Transfer Tax Sponsor’s Attorney Fee

$2,500 and up $350 and up $75 and up $2,000 and up

2 to 6 months $250 and up 1.8% of mortgage on loans under$500,000, and 1.925% of mortgage on loans of $500,000 and over. Amounts vary $350 and up $350 and up Pro-rated for the month of closing Prorated accordingly $350 and up 1% of price when price is over $1 million $500 to $1,000 (typically refundable)

1% of purchase price up to $500,000 $4/$1,000 of purchase price $2,000 and up

CO-OPERATIVE APARTMENTS

CONDOMINIUM / TOWNHOUSE

ESTIMATED CLOSING COSTS FOR PURCHASERS

For New Development, Sponsor Units, and Conversions:

All information regarding a property (whether for sale or for rental), as well as information regarding related taxes or financing, is from sources deemed reliable. However, no representation or warranty is made as to the accuracy of any such information, and such information is subject to errors, omission,

change of price, rental, commission, prior sale, lease or financing, or withdrawal without notice. All dimensions are approximate. For exact dimensions, we advise you to hire your own architect or engineer. Trump International Realty is a licensed real estate broker and member of the Real Estate Board of New York

New York, NY

212.247.7100

Westchester, NY

914.373.6290

Jupiter, FL

561.691.8710

Miami, FL

305.392.4945

Charlotte, NC

704.799.0700

Chicago, IL

312.644.0900

Las Vegas, NV

877.878.6711

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