Step-by-Step Guide on How to Challenge your NYC Property Tax Assessment

If you’re an NYC homeowner, then you know that your annual Notice of Property Value (NOPV) comes out every January 15th. In this NOPV, it indicates your property’s Market Value, Assessed Value, Effective Market Value, Exemptions, and Taxable Value. In the NOPV, it gives you instructions on how to challenge your assessment if you disagree […]

What is a Title Company and what do they Do in Queens NYC? 

We meet with home buyers and sellers every day, and one of the things that many people don’t understand clearly are title companies, title insurance, and how they affect them during the sale/purchase of a property. So, here is a quick primer on Title Companies, what they are, and what they do. If you have […]

Can a Coop Board reject the sale of a Unit because the Price is too Low? 

Answer provided by Neil B. Garfinkel, REBNY Broker Counsel, Partner-in-charge of real estate and banking practices at Abrams Garfinkel Margolis Bergson, LLP Answer: In many circumstances, a co-op board may reject a prospective purchaser because the price of the co-op apartment is too low. The By-Laws of most co-ops give the co-op board the right to withhold […]

FAQs regarding Buyer Representation in Queens & NYC

Answers provided by Neil B. Garfinkel, REBNY Broker Counsel, Partner-in-charge of real estate and banking practices at Abrams Garfinkel Margolis Bergson, LLP FAQs: Q: Is a buyer always entitled to be represented in a transaction?A: Yes, the New York State Department of State (“DOS”) has consistently stated that a buyer always has a right to be represented in […]