10 Must Have in RE Contract

10 Real Estate Contract Conditions to Look Out For For a more general explanation of the Real Estate Process please see the Buying & Selling page of our website. 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 [...]

By |2018-09-01T19:15:51+00:00August 27th, 2018|Blog|Comments Off on 10 Must Have in RE Contract

A Guide to Transfer & Mortgage Taxes

A Guide to Transfer & Mortgage Taxes: 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. NEW YORK STATE TRANSFER TAX - ALL COUNTIES (Usually paid by the Seller): $4.00 per $1,000.00 of [...]

By |2018-09-01T19:11:02+00:00August 20th, 2018|Blog|Comments Off on A Guide to Transfer & Mortgage Taxes

Certifcate of Occupany

Certificate of Occupancy, and Why You Need It. 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 [...]

By |2018-09-01T19:05:44+00:00August 13th, 2018|Blog|Comments Off on Certifcate of Occupany

Home Inspections

Importance of a Home Inspection: Buying a home is most likely the largest purchase you are ever going to make. Before endeavoring in such a large purchase, it is important to do your due diligence.  This begins with a home inspection.  A home inspection is usually performed before the contract of sale is signed. It [...]

By |2018-09-01T19:04:11+00:00August 6th, 2018|Blog|Comments Off on Home Inspections

Is a Short Sale Right For Me

Short-sales can be a good deal for both the buyer and seller; but before entering into one, there are some important considerations for a buyer. Am I in a rush to close? Buyers on strict timetables should think twice before signing a contract to purchase a short-sale. These deals can take 90-120 days on average [...]

By |2018-08-04T14:03:30+00:00July 30th, 2018|Blog|Comments Off on Is a Short Sale Right For Me

New York City Multiple Dwelling Registration

Property owners of residential buildings in New York City are required by law to file a Registration Statement annually between May 21st and September 1st with the Department of Housing Preservation and Development (HPD) if the property is a multiple dwelling. A multiple dwelling is a building with 3 or more residential units or a [...]

By |2018-07-10T11:04:49+00:00July 23rd, 2018|Blog|Comments Off on New York City Multiple Dwelling Registration

Water Readings

In New York City, water charges automatically become a lien on property when billed (which is every three months). This means that once you are the owner of property, you become responsible for all water charges relating to that property whether or not you were the owner of the property when the water consumption occurred. [...]

By |2018-07-10T10:57:29+00:00July 16th, 2018|Blog|Comments Off on Water Readings

What is “Time of The Essence” In a Real Estate Contract?

What does “Time of the Essence” mean? When used in a contract, places the other party on notice that failure to close by the closing date as set forth in the contract of sale will constitute an incurable breach. When a contract is time of the essence, the parties to that contract are obligated to [...]

By |2018-07-10T10:52:35+00:00July 9th, 2018|Blog|Comments Off on What is “Time of The Essence” In a Real Estate Contract?

10 Important Issues to Look Out For in a Real Estate Transaction

For a more general explanation of the Real Estate Process please see the Buying & Selling page of our website. 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 [...]

By |2018-07-14T18:19:52+00:00May 23rd, 2018|Blog|Comments Off on 10 Important Issues to Look Out For in a Real Estate Transaction

Why You Need to Understand the Real Estate Law?

Property owners and the agents need to have a good understanding of the Real estate and property law. This law covers an extensive part of the law and therefore it is advisable that you find Bengali real estate lawyer who can help you understand it. There are different reasons as to why this is important. [...]

By |2018-01-16T10:51:37+00:00January 15th, 2018|Blog|Comments Off on Why You Need to Understand the Real Estate Law?