Buying in NYC Archives - Page 19 of 39

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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What are Co-op Shares in NYC Real Estate?

By Sonja Gosine, Spokesperson at Hauseit® / August 27, 2019

Co-op shares are units of ownership in a cooperative corporation that owns an apartment building, not unlike owning shares in a regular business corporation. The coop corporation’s main asset is typically the apartment building, and thus each shareholder owns a

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Real Estate Investing for Beginners

By Sonja Gosine, Spokesperson at Hauseit® / August 27, 2019

Most articles on real estate investing for beginners will give you basic tips like getting pre-approved for a mortgage or other things you already know. We’ll take a contrarian approach in this article and talk about the pros and cons

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Real estate agents are not obsolete in NYC. Over 95% of sellers and 75% of buyers use brokers in NYC, and commissions remain stubbornly fixed at 5% to 6%.

Are Real Estate Agents Obsolete in NYC?

By Sonja Gosine, Spokesperson at Hauseit® / August 27, 2019

Real estate agents in NYC still represent over 95% of sellers and over 75% of buyers as of today despite major advances in technology and information accessibility for consumers. Furthermore, real estate commissions in NYC remain stubbornly fixed at 5%

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Low rental yields, new rent regulations and difficult tenants are just some of the reasons why buying a multi family home in NYC is a bad investment.

Why Buying a Multi Family Home in NYC Is a Bad Investment

By Sonja Gosine, Spokesperson at Hauseit® / July 23, 2019

Buying a multi family home in NYC is a bad investment because rental yields are extremely low, opportunity costs are high, dealing with bad tenants is mind-numbing, evictions are impossible, local rent laws are stifling and labor and maintenance costs

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What is a starter apartment? Should you buy a studio, 1 bed or junior 4? Rent vs buy analysis. Common mistakes when buying a starter home in NYC & more.

Tips for Buying a Starter Home in NYC

By Sonja Gosine, Spokesperson at Hauseit® / June 24, 2019

Buying a starter home in NYC typically means purchasing a smaller condo or co-op apartment with up to one bedroom. The decision to do so should be taken only after careful analysis of the benefits of continuing to rent vs

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How to get Schedule A pricing, allowed variances, outside dates, delays in construction when buying a pre-construction condo and more explained.

The Complete Guide to Buying a Pre-Construction Condo

By Sonja Gosine, Spokesperson at Hauseit® / June 24, 2019

Buying a pre-construction condo can be advantageous primarily because of better pricing vs a project that is ready for immediate occupancy. However, buying a pre-construction condo also comes with many risks such as delayed completion, abrupt notices to close, variances

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Buying an apartment in a mixed used building comes with many special risks such as unequal sharing of common charges, assessments, utilities and more.

Buying an Apartment in a Mixed Use Building

By Sonja Gosine, Spokesperson at Hauseit® / June 19, 2019

Buyers should be careful when buying an apartment in a mixed use building where the commercial units are separately owned because the offering plan can give unfair advantages to the commercial unit owner. Buyers should be especially wary if the

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Gift letters necessary for both mortgage and co op. Co borrowing means reduced future borrowing capacity for both. Advice for co buying a house with parents.

The Complete Guide to Co-Buying a House

By Sonja Gosine, Spokesperson at Hauseit® / April 30, 2019

Let’s face it, millennials these days are much less likely than their parent’s generation to be able to afford to buy a home by themselves. In fact, less than 50% of millennials earn more money than their parents by age

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Comprehensive guide on the J-51 tax abatement and what buyers should look out for. How to verify and calculate J51 benefits, expiration and more.

Buying an Apartment with a J-51 Tax Abatement

By Sonja Gosine, Spokesperson at Hauseit® / March 13, 2019

The J-51 tax abatement is one of the most misunderstood tax abatements when it comes to buying an apartment. Not only is it more rare to find in condos and co-op apartments for sale, its very complexity tends to tie

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