One of the most common questions our office gets is what are the closings costs going to be when buying a co-op or condominium in New York City. Well, unfortunately, in New York City, it is not just the real estate that is expensive. Whether you are buying a home, townhouse, condominium or cooperative, [...]
The steps to closing on New York city real estate can seem daunting for even the most experienced buyers. There are many important factors and parts that must be done cautiously to ensure that the transaction goes through without any delays, disagreements, or financial costs. One mistake in the process could derail the transaction [...]
New York Real Estate Contracts Involve The Purchase, Sale, Or Exchange Of A Piece Of Property, And It Is A Formal Agreement Between Two Parties – The Purchaser And The Seller The parties form a legal agreement that is clearly stated in the contract, which must be in writing. As such, both parties are [...]
Though still a mystery to many U.S. consumers, Bitcoin (and other forms of cryptocurrency) is used more and more in everyday transactions. Accordingly, cryptocurrency is projected to quickly become a mainstream form of payment—including in connection with real estate transactions. Bitcoin remains unregulated and unrecognized as an official U.S. currency. Nonetheless, Bitcoin is subject to taxable appreciation once converted [...]
5 Major Benefits of using an LLC in real estate transactions Most people purchase a home utilizing their name. Maybe you’ve heard of forming a limited liability company (“LLC”) to buy the house and were curious, should I do that? Using LLCs for real estate investments is critical and also has benefits for traditional [...]
Home buying is a complex process and even more so when it’s your first home. Along with the excitement of buying and selling a home comes the stress of signing contracts and attending closings. Having a good real estate agent is key during this process, but so is having a good attorney. Your real estate agent [...]
Imagine the following scenario: The closing is scheduled for 11AM and the office of the bank attorney, on the way there you go for a final walk through of your dream home, and realize that when the sellers moved out, they took out all of the covers to all of the electrical outlets, light [...]
Liens, ECB’s, fines, encroachments, and encumbrances can place what is called clouds on title. All kinds of things can cloud the title to your home. Perhaps a contractor placed a lien on the house for unpaid bills, for instance. If you bought your house with your spouse and then divorced, it may be unclear [...]
So you finally decided to purchase your first home or a new bigger and better home. There are a number of important things to consider and remember before you purchase your home. Purchasing a home is often a serious long-term commitment for many people. When making that purchase it is important to make sure [...]
