Buying in NYC Archives - Page 18 of 39

Coop boards might ask for 1-2 years of maintenance payments in escrow or a guarantor for conditional coop board approval in NYC. Buyers can renegotiate terms.

What is Conditional Coop Board Approval in NYC?

By Sonja Gosine, Spokesperson at Hauseit® / November 7, 2019

A co-op board is able to conditionally approve a prospective purchaser of a co-op apartment, with full approval only given after the buyer has agreed to and satisfied certain requests made by the coop board. The most common conditional coop [...]

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Top 25 Celebrities Who Live in NYC

By Sonja Gosine, Spokesperson at Hauseit® / November 5, 2019

As the financial capital of the world, New York City is home to countless A-list celebrities and other well known entertainers and public figures. NYC is also a popular pied-a-terre (second home) destination for many celebrities who live in Los

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The 2023 NYC Mansion Tax is a buyer closing cost of 1% to 3.9% of the purchase price, applicable to purchases of $1 million or more in NYC.

How Much is the NYC Mansion Tax in 2024?

By Sonja Gosine, Spokesperson at Hauseit® / November 3, 2019

The NYC Mansion Tax is a buyer closing cost which ranges from 1% to 3.9% of the purchase price, applicable on residential purchases of $1 million or more in New York City. The Mansion Tax is part of the real

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Found a House Without My Realtor, What’s Next?

By Sonja Gosine, Spokesperson at Hauseit® / October 31, 2019

It seems like I've done all of the work, and now I've found a house without my Realtor, what's next? If you've every asked this question, you're not alone. Whether a buyer can change agents, or choose to be represented

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An alcove studio is a studio apartment with a small, separate sleeping area, or "alcove," that opens up into the main room, typically forming an "L" shape.

What Exactly Is an Alcove Studio in NYC?

By Sonja Gosine, Spokesperson at Hauseit® / October 17, 2019

An alcove studio is a studio apartment with a separate sleeping area on either side, at the far end of the main room. This nook or "alcove" is typically left open to the main room, and is typically only large

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How is Co-op Square Footage Calculated in NYC?

By Sonja Gosine, Spokesperson at Hauseit® / October 14, 2019

Co-op apartments generally do not have official square footage numbers, although listing agents will often list a size in their marketing materials. Don’t trust these numbers because not only are they purely estimates that are inflated by at least 10%

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Should Married People Be Buying a House Without Their Spouse?

By Sonja Gosine, Spokesperson at Hauseit® / October 11, 2019

You certainly can buy a house without your spouse, and sometimes this may be the wiser move if your spouse has poor credit or lots of existing debt. However, whether you should buy a house without your significant other depends

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Listing agents pushing to sell sooner for less, buyer agents avoiding FSBO sales. How to deal with conflict of interest in real estate + real life examples.

Conflict of Interest in Real Estate and How to Deal

By Sonja Gosine, Spokesperson at Hauseit® / September 25, 2019

There are many conflicts of interest in real estate to be wary of, especially if you are a first time home buyer in NYC. We’ll go over a number of examples of conflict of interest in real estate between listing

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The Housing Stability and Tenant Protection Act of 2019 restricts apartment deregulation in NYC and strengthens tenant protections for rent-stabilized and market rentals.

Changes to NYC Rent Laws for 2019

By Sonja Gosine, Spokesperson at Hauseit® / September 3, 2019

A number of new rent laws and regulations recently took effect in NYC following the passage of the Housing Stability and Tenant Protection Act of 2019 by the New York State Legislature. Changes were made to rent stabilization laws, real

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What is the financing contingency in NYC real estate? What does a financing contingency clause look like? Financing and funding contingencies, explained.

The Financing Contingency in NYC Explained

By Sonja Gosine, Spokesperson at Hauseit® / August 29, 2019

The financing contingency is often misunderstood when it comes to NYC real estate deals. The financing contingency is actually a rather broad term for a contract contingency that can include many negotiable parts, such as an appraisal contingency or minimum

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