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 […]
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 term. […]
We just wanted to let you know about a property that we just sold in E. Elmhurst, NY. This one was a multi-family located at 32-30 96th Street (see link below for details). It was listed for $1,225,000, on the market for 25 days, and eventually sold for $1,200,000. The property was in good condition. […]
We just wanted to let you know about a property that we just sold in Corona, NY. This one was a 1-bedroom condo located at 105-09 Otis Avenue Unit 2B (see link below for details). It was listed for $359K, on the market for 21 days, and eventually sold for $345K. The property was in […]
We just wanted to let you know about a property that we just sold in Elmont, NY. This one was a single family located at 71 Cerenzia Boulevard (see link below for details). (https://gravityhair.com/) It was listed for $625K, on the market for 117 days, and eventually sold for $615K. The property was in good […]
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