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What Are the Differences Between a Co-Op and a Condo?
Key Takeaways CO-OP Stricter subletting rules disincentivize the use of the property for investment purposes Higher monthly maintenance fees since the buildings outstanding mortgage and property taxes are included Subject to a flip tax The board ...
What is a NYS Disclosure Form for Buyer and Seller?
There are two types of Agency disclosure forms in New York, one addressing the agent’s fiduciary relationship to the Landlord and Tenant in a rental transaction, and another for their relationship to a Buyer and Seller in sales transactions. Each ...
What is a NYS Disclosure Form for Landlord and Tenant?
There are two types of Agency disclosure forms in New York, one addressing the agent’s fiduciary relationship to the Landlord and Tenant in a rental transaction, and another for their relationship to a Buyer and Seller in sales transactions. Each ...
What is the New York State Mansion Tax?
WHAT IS THE MANSION TAX? The New York State Mansion Tax is a transfer tax for residential property purchases in excess of $1 million. Applicable to any property that may be used in whole or in part as a personal residence, this includes condos, ...
What Are the Steps to Closing On a NYC Apartment After an Offer is Accepted?
1. REVIEW CONTRACT & DUE DILIGENCE MATERIALS After your offer is accepted, your attorney will review the contract sent by the seller’s attorney. Next, they will evaluate any due diligence materials for the building and unit including Board meeting ...