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: The Housing Stability and Tenant Protection Act of 2019 (“HSTPA”) created a specific time frame and procedure for landlords to follow when returning a tenant’s security deposit at the end of a lease […]
NYC Homebuyer Connect Hi Friends 👋, hope you’re doing well! This month we wanted to give you some information about the new conforming loan limits in NYC, plus we wanted to give you some quick money saving tips, and lastly, we wanted to share a 4 account personal banking system that helps with budgeting, spending, […]
NYC Homeowner Connect Hi Friends 👋, hope you’re doing well! This month we wanted to share a few important things with you. First is information about the Notice of Property Value for your property which you should have received in the mail this month. Second, some information related to the age old question, is now […]
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 […]
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 […]
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 […]
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 […]
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: If a co-op building has a Ground Lease (also known as a Land Lease), it means that the co-op corporation does not own the land under the building. Rather, the co-op corporation leases […]
Queens Real Estate Market Report: Q4 2021 + 2022 Outlook, courtesy of the Queens Home Team at Keller Williams Realty Landmark II. Have a question? Contact Us Data Source: https://www.queenshometeam.com/wp-content/uploads/2022/01/Queens-Real-Estate-Market-Report_Q4-2021.pdf Market Snapshot Happy New Year from QHT! We’re back at it and already back in the field meeting with homeowners and home buyers. 2021 is […]
Answer provided by Neil B. Garfinkel REBNY Broker Counsel, Partner-in-charge of real estate and banking practices at Abrams Garfinkel Margolis Bergson, LLP Question: After Submitting a Board Package, is it Legal for a Coop to request that Additional Maintenance be Held in Escrow? Answer: Yes, a cooperative corporation (“co-op”) may request extra maintenance […]
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