Category Archives: Real Estate
5 Things To Know About Foreclosure Short Sales In New York
Short sales are a frequently used tool to benefit both a homeowner/borrower and the bank holding a lien on real property. The outcome of a short sale usually benefits both parties, and can benefit potential buyers as well. Whether you are a potential seller or buyer, there are important things to know about the… Read More »
What To Do When A Commercial Tenant Stops Paying Rent
A commercial lease is a contract between the property’s owner (the landlord, or “lessor”) and the business operator seeking to rent space for commercial use (the tenant, or “lessee”). The lease details all obligations that both parties have as part of the agreement. For example, a lessor is required to maintain the property, respond… Read More »
Mistakes To Avoid When Purchasing Property In New York
Purchasing real estate can be one of the biggest events of a homebuyer’s life, and is usually one one the most important – if not the single biggest – purchases they will ever make. The process can be exhilarating but is fraught with potential complications, however. Some common errors that homebuyers may make while… Read More »
Condos Vs. Co-Ops As A New York Real Estate Investment Strategy
Most people are familiar with condominiums (or “condos”) as a real estate option. With a condo, purchasers buy a unit within a larger dwelling, and they own the space within their unit and an interest in the common areas. Another option, relatively unique to New York, is a housing co-operative (or “co-op”). In New… Read More »
5 Reasons To Form An LLC For Your Rental Property
If you own rental property or are thinking about buying rental property, you may wonder whether it is best to keep the property in your own name or contain it within an LLC. For several reasons, it could benefit you in the long run to create an LLC for your property. An LLC (Limited… Read More »
Closing On Real Estate In New York: What To Expect From Start To Finish
Whether you are a buyer or a seller, closing a real estate sale can be an exciting – and anxious – time for all involved. A real estate closing is a seemingly simple mechanism that allows the property to transfer from one owner to the next, but is preceded by weeks of preparation and… Read More »
5 Reasons A New York Landlord Might Need An Attorney
Unless you own a large real estate portfolio with millions in rental income generated each year, it is not likely you have an attorney on retainer to handle problematic issues that can arise for landlords in New York. Like running any business operation, you hope to earn revenue while minimizing unexpected costs and liabilities… Read More »
Transferring Real Estate To Heirs Through A Life Estate Deed In New York
A common real estate conundrum involves how to maintain real estate during your lifetime while effectively passing it to your heirs after you pass on. Typically, this is done through a will that devises your home to an heir or set of beneficiaries. However, this necessarily involves the probate process and can delay the… Read More »
Buying A Home As An Unmarried Couple
Buying a home continues to be a worthwhile investment. It offers a sense of security in having a place to actually call your own while building equity, rather than simply paying rent. However, for an unmarried couple, there are legal issues you need to be aware of. Questions To Ask Yourself If You Are… Read More »
Thinking Of Buying A Home In 2022? Some Important Factors To Consider
A new year often prompts the urge to make new resolutions, including some positive changes you may have previously put off. Particularly in light of the COVID-19, 2021 had most of us focused on returning to ‘normal’ and readjusting from all that happened during the pandemic. While the virus is still a concern for… Read More »