Latest Articles & News

A Guide to Transfer & Mortgage Taxes
By Affar Baksh   /   Real Estate Rules   /   October 03, 2019

Real Estate Taxes in New York State are complex. The chart below contains the tax amounts–residential and commercial–for Transfer Taxes and the Mortgage recording tax, including any local differences by county.

10 Must Have in a Real Estate Contract
By Affar Baksh   /   Real Estate Rules   /   October 01, 2019

10 Real Estate Contract Conditions to Look Out For Once your offer is accepted on the purchase of your new home, your attorney will receive a real estate purchase contract which will be provided to you for review. When reviewing the contract here is a list of some items you should be sure to look out for.

Certificate of Occupancy
By Affar Baksh   /   Real Estate Rules   /   October 02, 2019

A Certificate of Occupancy (CO) is a document issued by the New York City Building Department (DOB) which states a building’s legal occupancy limits, type of permitted occupancy and allowable use of the building (ex. Commercial retail store, industrial warehouse, 1 to 4 residential home, 50 unit condominium). New buildings must have a CO, and existing buildings must have a current or amended CO when construction will change their use, egress or type of occupancy. If a building doesn’t have a proper Certificate of Occupancy, the DOB could theoretically issue a vacate order and related violations at any time.