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In the concrete jungle of New York City, space is at a premium. When you are a property owner, it is not just the land and the structure that holds value—air rights can also significantly impact your property. But what exactly are air rights, and what legal...
As a property seller, it is crucial to provide correct information about the properties you are selling. This is not only a legal obligation but also an ethical one. If you intentionally give false information or hide key details about the property, you could face...
As buildings age and suffer damage over time, they could become subject to major renovations or repairs. Carrying out these types of work may be necessary to maintain a building's structural integrity and functionality as well as to improve one or more units. However,...
Real estate transactions often involve multiple parties and large sums of money, making them complex. With so much at stake, these transactions can become prime targets for scammers or fraudsters. Property owners selling their homes can suffer devastating losses if...
The 1031 exchange, often referred to as the “like-kind” exchange, is a provision under U.S. tax law that can be a game-changer for you as a property investor. It allows you to put off paying taxes when you sell a property, provided you reinvest those profits into a...
Buying property can be a significant milestone for many people but may remain out of reach because of high real estate prices, especially in New York. Some options can have flexible terms made for aspiring property owners. They might also consider sharing the...
An escrow agreement is a written agreement between two parties that involves a neutral third party (escrow agent). A buyer and seller can use an escrow agreement to facilitate the purchase and sale of a property. In such a transaction, the buyer is the depositor, and...
Selling a house involves more than finding a buyer and signing over the property. As a seller, it is essential to be aware of the various costs associated with the process. These costs can affect your overall profit. You should always factor them in when setting a...
Selling and buying a condo can take some time. Unfortunately, just because everything seems to be going well does not always mean you can certainly close the deal. After all, the condo board might exercise its right of first refusal (ROFR) and stop the sale. What is...
Purchasing real estate could be a significant investment. However, seeking the right property could be an arduous task. Researching a property and doing due diligence before proceeding with the transaction takes a lot of work. Also, real estate could be pricey,...