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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 c...

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

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Alexander Suslensky

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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,...

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

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Alexander Suslensky

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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...

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

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Alexander Suslensky

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

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

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Alexander Suslensky

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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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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...

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

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Scout

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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...

How much does it cost to work with an attorney?

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Scout

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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...

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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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 ...

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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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....

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

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Alexander Suslensky

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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 pr...

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

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Alexander Suslensky

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

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

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Alexander Suslensky

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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 sho...

Can you sell real estate without a broker?

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Scout

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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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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...

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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Maybe. Almost all New York condominiums have a right of first refusal to buy an apartment instead of a perspective purchaser. This right is ...

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

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Alexander Suslensky

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You can do a professional inspection, but the larger the building, the less common it is. Most buyers probably don’t want to spend the money...

I’m buying a co-op apartment in a building that has about 250 apa...

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Alexander Suslensky

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New York is a “caveat emptor” state, which in Latin means “buyer beware.” This means that it’s up to the buyer to make sure that the propert...

My broker told me that purchases in New York are generally on an ...

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Alexander Suslensky

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Selling with an agent can have tremendous benefits. Aside from outsourcing the headache, agents bring years of experience and it has been sh...

Why should I sell with a real estate agent

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Scout

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The national avergae to sell a home is around 68 days, however, with an all cash deal, it can be as little as 30 days, and sometimes less.

How long does it take to sell my home?

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Scout

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Attorney

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