The Full NYC Seller Timeline

Accepting an offer is a milestone, but in New York City real estate, it is not the finish line. It is the start of a structured, attorney-driven process that requires coordination, patience, and clear expectations.

For sellers, knowing what comes next can make the difference between a smooth transaction and one that feels unnecessarily stressful. Here is the NYC seller timeline, from offer acceptance through closing, so you know exactly what to expect.

Step 1: The Contract Phase Begins

Once you accept an offer, your attorney drafts the contract of sale and sends it to the buyer’s attorney. This is when the transaction begins to take its formal shape.

At this stage:

Attorneys negotiate the contract terms
Deal points such as timing, contingencies, and inclusions are finalized
Your agent ensures the business terms match what was agreed to

New York is different from many other markets. Until contracts are fully executed, the deal is not legally binding. The transaction is real, but it is still in process.

Step 2: Buyer Due Diligence and Inspections

After the buyer’s attorney receives the contract, the buyer typically has a short due diligence window, often around 7 to 10 business days.

For sellers, this phase usually includes:

Providing building documentation such as financials and governing documents
Allowing access for inspections when applicable, especially for townhouses
Responding to questions raised by the buyer’s attorney

This stage is about transparency and momentum. When it is handled well, it prevents surprises later and keeps negotiations focused.

Step 3: Contract Signing and Deposit

Once due diligence is complete and the terms are agreed to:

The buyer signs the contract
A 10 percent deposit is delivered to the seller’s attorney escrow account
The seller signs, and the contract becomes fully executed

At that point, the deal is legally binding.

Step 4: Financing and the Bank Commitment

If the buyer is financing the purchase, the next phase is driven by the lender.

Typically:

The bank orders an appraisal
The buyer works toward a formal loan commitment
This process often takes 30 to 45 days

As the seller, you are mostly hands-off here, but your agent should be actively managing the timeline, checking in regularly, and making sure the deal stays on track.

Step 5: Condo or Co-op Board Approval

This step varies significantly depending on the property type.

Condos
The board reviews the application and issues a Waiver of Right of First Refusal once complete. Timing can vary, but the process is generally more straightforward.

Co-ops
The board reviews a detailed application, then typically schedules an interview. Once the buyer is approved, the transaction is cleared to close.

This is often the longest and most misunderstood part of an NYC deal. Strong guidance, clean paperwork, and proactive follow-up make a meaningful difference here.

Step 6: Cleared to Close

Once financing and approvals are in place:

Attorneys coordinate the closing date, often a couple of weeks out
Final walkthroughs are scheduled
Moving logistics and key turnover are arranged

This is the final stretch, and preparation is what keeps it smooth.

What Sellers Often Underestimate

Many sellers assume the most difficult part is getting the offer. In reality, the period after acceptance requires just as much attention to detail.

The strongest transactions are the ones where:

Expectations are set early
Timelines are actively managed
Communication stays consistent across attorneys, agents, lenders, and management

This is where the right team protects your momentum.

The Bottom Line

Selling in New York City is a process, not a single moment. Understanding what happens after you accept an offer helps you move forward with confidence, avoid surprises, and stay focused on the outcome.

If you are considering selling and want a clear view of what the process looks like from pricing through closing, email me at hdomi@heatherdomi.com or call 917.267.8012.