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An estoppel certificate plays a role in ensuring transparency and clarity in real estate transactions. It is a document that verifies the status of agreements and obligations related to a property. While it might sound like complex legal jargon, understanding when you...
The National Association of Realtors reported in September 2023, the median sales price for homes in the nation was $394,300. When considering purchasing a home, it is important to approach the process with a discerning eye. Not all homes on the market may be in good...
LOIs, or Letters of Intent, are commonly used in commercial real estate transactions as a preliminary step before entering into a formal purchase agreement or lease. An LOI is a document that outlines the basic terms and conditions that both parties intend to include...
You shouldn't make a hasty decision on a house purchase if this is your first one or else you may find yourself regretting your purchase after spending a fortune on repairs. A home inspector is one method you may use to stop this from happening. Sellers of real estate...
New York landlords have a duty to ensure that the commercial property they are leasing meets the basic health, safety and structural standards stipulated by local, state and federal laws. If this obligation is not met, the tenant may pursue applicable options. One of...
Once you find the ideal commercial space for your business operations, you may feel eager to sign the lease and move in. Enthusiasm is understandable, but it might distract you from ensuring the lease terms serve your best interests. You have the right to study the...
Investing in a commercial property is a significant milestone. If you are already running a successful business, having your own property could eliminate rent while giving you more control over how you customize your premises at the same time. However, buying...
You’ve been searching for a new home now for several months, and you finally found something that's perfect for you. The house is an ideal size and it’s in a great location. You’re ready to move forward with the deal. Unfortunately, real estate transactions can be...
When you obtain a loan to purchase a home, the lender assumes the right to repossess the property should you fail to keep up with your mortgage payments. This process is known as foreclosure. New York is a judicial foreclosure state, meaning that the foreclosure must...
When you find a property that you like and can afford, purchasing it may still not be straightforward. Some houses have legal issues that could make going ahead a risky decision. Fortunately, there is often a simple way to resolve things. It’s called a quiet title...