Buying in NYC

The due diligence process for buying a house or townhouse is generally much faster vs the time required to conduct due diligence when buying a condo or co-op apartment. The buyer or the buyer's attorney, depending on the norms in [...]

The terms ‘contract deposit’ and ‘down payment’ in NYC real estate are often used interchangeably by first-time buyers and new agents, but these terms do not mean the same thing. While the down payment represents the portion of the purchase

A buyer who is rejected by a NYC co-op board is customarily entitled to a full refund of the earnest money contract deposit. The typical contract deposit in NYC is 10% of the purchase price, payable upon contract signing and

Garbage disposals are completely legal for use in NYC apartment buildings. However, some condos and co-ops do not allow them. The use of garbage disposals in NYC was legalized in 1997 after previously having been prohibited since the 1970s. Buildings

The vast majority of co-op buildings in NYC do not allow prospective purchasers to buy using an LLC, however some co-ops permit LLCs. Co-op buildings which permit LLC buying may charge additional upfront fees pertaining to the extra paperwork associated

What happens when a buyer's agent has multiple buyer clients interested in the same listing? Does this count as dual agency? Must the real estate agent recuse him or herself from one of the clients? Is it possible to have

A jr 1 bedroom apartment, also referred to as simply a junior 1, is a studio apartment with an additional space that is walled off and typically used as a sleeping area. This additional room often does not have a

A real estate agent or broker in NYC who lists her or his own home for sale has a duty to disclose this ownership interest to prospective purchasers. This disclosure is mandated by both the New York State Real Estate

While it’s not illegal for a NYC landlord to interview a prospective tenant, conducting an interview puts a landlord at risk of potential fair housing violations. Fair housing laws in NYC are strict, and violations carry heavy penalties. An in-person