Ghosts, creaky floorboards and a black cat in the hallway? New Yorkers can handle all of that. The real scares in NYC real estate are on paper: rate sheets, board packages and closing statements.

This Halloween, we're turning on the lights so you can see what's in the closet. Here are five "monsters" buyers and sellers run into most often, and how to deal with each one.

1. The Rate Monster: Mortgage Rates Above 7%

The 30-year fixed rate was 7.32% for the week of October 22, according to Freddie Mac data reported by Trading Economics. That's the first weekly dip in nine weeks, but it's still about a point higher than a year ago.

How to fight back:

• Get pre-approved early so you know exactly what your monthly payment will be.
• Ask about rate buydowns. Some sellers will pay to lower your rate instead of cutting the price.
• Marry the house, date the rate. If rates drop later, refinancing may be an option.
• Look at the upside. Higher rates keep some buyers out, so you'll often face less competition and have more room to negotiate.

2. The Gatekeepers: Co-op Board Interviews

In a city where co-ops make up a large share of the apartment market, the board is the scariest door to knock on. Boards can ask for years of tax returns, bank statements and reference letters. Many expect a bigger down payment and money left over after closing, and they can turn you down without saying why.

How to fight back:

• Treat the board package like a job application. It should be complete, organized and free of typos.
• Know the building's rules up front, including financing limits, post-closing liquidity requirements and sublet policies.
• Prep for the interview. Keep answers short and friendly. It's a check that you'll be a good neighbor, not an interrogation.
• Consider a condo if co-op requirements don't fit your plans. Condos have fewer approval hurdles.

3. The Hidden Fees Phantom: Closing Costs and NYC Taxes

You budgeted for the down payment. Then a stack of line items you've never heard of shows up at closing. In New York, buyers often owe a mansion tax on purchases of $1 million or more, plus mortgage recording tax, title insurance and attorney fees. Sellers usually pay NYC and New York State transfer taxes on top of broker commissions.

How to fight back:

• Ask your agent for an estimated closing cost sheet before you make an offer, not after.
• Watch price thresholds. An offer of $999,000 instead of $1,000,000 can avoid the mansion tax completely.
• Sellers: estimate your net proceeds early so the final number isn't a nasty surprise.

4. The Bidding War Zombie

You find the perfect two-bedroom with good light, close to the subway. By Sunday's open house, there are six other offers. When inventory is tight, the best homes still bring out a crowd, even with high rates.

How to fight back:

• Have your paperwork ready (pre-approval, proof of funds, attorney lined up) so you can act within hours.
• Compete on terms, not just price. A flexible closing date or a strong down payment can beat a slightly higher offer.
• Set your walk-away number before you see the place, and stick to it.
• Shop in the off-season. Late fall and the holidays bring fewer buyers, which makes now a good time to look.

5. The Skeleton in the Closet: Hidden Building Issues

Some scares stay hidden until after you move in: a leaky riser, outdated wiring, or a big building assessment the board is about to approve. In older prewar buildings and brownstones, these surprises are more common than you'd think.

How to fight back:

• Always get an inspection, even for an apartment. For townhouses, it's a must.
• Have your attorney review the building's financials and board minutes. That's where upcoming assessments and lawsuits show up.
• Ask about the reserve fund and recent capital projects. A well-funded building is less likely to hit you with surprise bills.
• Sellers: fix the small stuff before listing. A dripping faucet can make a buyer wonder what else is wrong.

Don't Go Into the Haunted House Alone

What makes these monsters scary is the surprise. If you know what's coming and have the right people with you, buying or selling in New York is a lot less frightening.

Thinking about a move this fall? The FIND Real Estate team will walk you through each step, from rate strategy to board packages to closing day. Get in touch with us today.

Happy Halloween from all of us at FIND Real Estate!