When buying a property in New York City, it's easy to get caught up in the excitement and overlook important details. One common mistake that buyers make is called "nibbling." Nibbling refers to making small, incremental requests or changes to the deal after it has been agreed upon.
For example, a buyer might ask for a change to the closing date, or request that the seller throw in some extra furniture. Individually, these requests may seem small and inconsequential. However, when taken together, they can add up and create a significant impact on the deal.
It's important to remember that real estate transactions in New York City are complex and involve many moving parts. Making multiple, small requests throughout the process can slow down the deal, create tension between the buyer and seller, and even cause the deal to fall apart.
Instead, buyers should work with their real estate agent to identify all of their needs and wants upfront, and negotiate for them before the deal is finalized. This will help to ensure a smooth and successful transaction for all parties involved.