A real estate transaction is entirely voluntary. With the exception of eminent domain proceedings, which involve public projects, almost all real estate transactions begin with a property owner deciding to list their property for sale. Maybe they can no longer afford...
At its most basic, a 1031 Exchange allows for one investment property to be exchanged for another of equal value. The benefit of doing this is that there’s little to no capital gains tax payable as there’s no real “cashing out” involved. The ins and outs of a 1031...
You’ve been searching for the perfect home for some time now. Fortunately, you have found your dream home, and in the ideal neighborhood. Before signing the sale agreement, however, it is important that you take certain preliminary steps. One of these involves...
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...
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...
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...
You need to check for several title issues before purchasing real estate. One of those is easements. An easement is a legal tool that gives one person the right to travel over another person’s property for access. People often put these agreements in place informally,...
