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Many people choose to own property together. This might be as a business venture, as personal property or even as siblings who were passed a property as an inheritance. This can make perfect sense at the time, but what happens when the relationship breaks down and...
Finding the home of your dreams is an exciting time but it can also be stressful. For some people, one of the biggest fears is that their offer will be accepted and then the home will slip away from them. One issue that can occur is that the seller tries to pull out...
The title records for a property show a chain of ownership and a record of those who have had a financial interest in the property. These records also help validate the easement rights of private property owners and utility companies alike. Some properties in New York...
The majority of homebuyers in the United States are not actually buying homes with their own money. Instead, they are going to a bank or another lender and getting a mortgage loan. They then use this loan to buy the property, but they have to pay the loan back over...
A short sale happens when a homebuyer needs to sell their home for less than what they owe on it. This is often due to financial difficulties that cause them to need to do away with the monthly payments. The person who wants to purchase the property will have to go...
In today’s hot housing market, you’ve likely heard the term “a seller’s market.” As the demand for housing increases, buyers have to come up with attractive offers. Some come above the asking price, while others pay all cash. It may be surprising to learn that 25% of...
Most underlying co-op mortgages have shorter terms than residential mortgages, with balloon payments typically due at the end. The shareholders of large co-ops often decide to refinance their mortgages as their current mortgage nears its end. Refinancing a large co-op...
New York is one of the most popular destinations in the world. People travel from countries all across the globe to go there for leisure or for business. You may live in another country, but you could find yourself in a situation where you want to own property in New...
Your commercial business took off like a rocket, and now all you need to expand your capacity is to purchase the small property adjacent to your company. That will allow you to meet your customers’ demands for your product. But there is one problem – and,...
A 1031 exchange is a way for investors in real estate to trade properties so they can defer the capital gains tax on the property. There are some very specific requirements for doing this so you must ensure that you’re handling the situation properly if you’re going...