Analysis paralysis affects many NYC property buyers and stops them from making an offer. There are so many things to take into consideration. Prices are high and closing costs are often more than half a year’s salary...
Category - New Development
Jeff VasishtaA condo offering plan: all you need to know
Don’t be intimidated when a phonebook size offering plan for your new condo thumps down on the table in front of you. The thought having to read your condo offering plan might give you an instant headache but...
Buying a new condo: What to ask on the first tour?
A shiny new condo building in NYC has a lot of appeal. It’s a chance to separate yourself from the chaotic, congested streets outside. A cosy cocoon in a pristine, air conditioned building with the type of amenities you...
Square footage in NYC: Separating fact from fiction
In New York City where real estate can be exorbitant, square footage is as precious as fine jewelry. Postage size rooms can add hundreds of thousands, sometimes millions of dollars on to the price of property. It’s...
Block and lot: What is it and where do I find one in NYC?
A block and lot survey system is used in the USA and Canada to locate and identify land. It is usually used in areas of dense population, such as towns and cities. It’s also known as the recorded plat survey system or...
Certificate of Occupancy: Boring but oh so important
According to the NYC Buildings Department, a Certificate of Occupancy (CO), “states a building’s legal use and/or type of permitted occupancy. New buildings must have a CO, and existing buildings must have a current or...
Mansion Tax: NYC’s loathed real estate tax
All New Yorkers crave a better subway system but few thought it would affect the cost of buying a new home. Welcome to NYC’s mansion tax. The original mansion tax was created in 1989 by Gov. Mario Cuomo. It was a 1...
Real Estate Transfer Taxes: A guide for New York City and New York State
Who pays transfer taxes? Transfer taxes can take a first time seller by surprise. Simply subtracting the sales price from the purchase price of a property will not amount to the size of the seller’s check at...
Attorney’s fees: How much should you pay your real estate attorney?
What’s an average price for an attorney’s fee in NYC? It’s pretty much a certainty that if you are buying a $50 million plus condo, your attorney’s fees will be more than if you were buying one for $500,000. That...
Title Insurance: What is it exactly and how does it work?
What is title insurance? Title insurance — it’s not sexy and not the first thought on a homeowner’s mind but if you don’t have it you could be heading for a whole heap of trouble. A title insurance policy protects...
