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If you applied for your residential loan on or after October 3, 2015, then the loan is subject to new regulations which require that final closing figures are c...

My lease is expiring and I’m desperately trying to schedule my cl...

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Alexander Suslensky

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Attorney

No! The closing date in a New York contract is just an estimated date – regardless of whether it’s preceded by the words “on,” “on or about,” or even “on or bef...

I just signed a contract to buy an apartment and it says that the...

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Alexander Suslensky

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Attorney

Unfortunately, no. A standard New York co-op contract states that the deal is terminated if the board rejects the sale, but it does not give the buyer a right t...

I just attended my board interview. I really didn’t like the boar...

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Alexander Suslensky

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Attorney

The seller may not agree to this. Typically, sellers won’t countersign a contract until the buyer provides a deposit check that could be immediately deposited. ...

I’m ready to sign the contract today, but my funds for the depos...

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Alexander Suslensky

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Attorney

Usually, an ordinary personal check is acceptable.

Does the contract deposit have to be paid by certified or officia...

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Alexander Suslensky

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Attorney

Selling a home with an agent generally costs anywhere from 5% - 6% of the sales price. The listing fee is always negotiable, so make sure to discuss this with y...

How much does it cost to work with an agent to sell my home?

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Scout

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Agent

Depending on the size of the deal and location, legal fees can frun from as low as $500 up to $10,000 per million. Traditional legal fees in New York are genera...

How much does it cost to work with an attorney?

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Scout

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Agent

Unfortunately, no. A New York co-op board has no legal duty to respond within any time frame, or even at all. That’s why you need to be very careful in locking ...

I’ve been in contract to buy a co-op apartment for four months. I...

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Alexander Suslensky

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Attorney

Probably not. The only recourse you would have is if you could prove that in rejecting the sale, the board violated city, state or federal anti-discrimination ...

I was in contract to buy a co-op contract. I submitted all of th...

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Alexander Suslensky

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Attorney

Unfortunately, there’s not much you can do. In New York, the deal is not legally binding until the seller returns a fully executed contract. That’s why it’s imp...

The seller accepted my offer. My lawyer worked very hard to compl...

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Alexander Suslensky

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Attorney

No. In New York, a deal is not legally binding until the buyer signs a contract, provides a contract deposit (usually 10% of the purchase price) and the seller ...

The seller just accepted my offer. Is this legally binding?

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Alexander Suslensky

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Attorney

“Binders” are not customary when making offers on real estate properties in New York City. Typically, a buyer’s real estate broker will submit an offer. If the ...

Do I have to provide a financial “binder” or “good faith deposit”...

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Alexander Suslensky

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Attorney

Yes, you can. However, you should be prepared to handle all of the jobs associated with what an agent or broker will do for you, such as showing, listing, marke...

Can you sell real estate without a broker?

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Scout

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Agent

It doesn't cost you anything to work with an agent to buy a home!

How much does it cost to work ith an agent to buy a home?

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Scout

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Agent

Unfortunately, once you sign a standard co-op contract, you are required to provide the information required by the co-op board. That’s why it’s important that...

If I sign a contract to buy a co-op apartment, do I have to prov...

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Alexander Suslensky

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Attorney

Maybe. Almost all New York condominiums have a right of first refusal to buy an apartment instead of a perspective purchaser. This right is almost never exercis...

I heard about the intrusive information required by New York co-o...

Answered by:

Alexander Suslensky

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