I'm in contract on an UES co-op and I just found out there's a $20,000 assessment to fix the fireplace. Do I have to pay?

… … Your rights between contract and closing will depend on the wording of the … increases in maintenance or assessments says attorney Hal Coopersmith a partner at Coopersmith Coopersmith   … Your … particularly if there is any evidence the seller knew about the potential assessment Coopersmith says  Keep in …

By Emily Myers |July 24, 2023 - 9:30AM
7 ways to compete with an all-cash offer

… As the saying goes cash is king New York City buyers who pay all cash instead of financing part … these days allcash buyers are more predominant According to Jonathan Miller president and CEO of real estate appraisal … An article on the website of the National Association of Realtors warns these letters could raise fair housing issues …

By Jennifer White Karp |May 16, 2023 - 10:30AM
How to read a NYC co-op or condo building’s financial statement

… When youre buying a coop or condo in New York City an important … building is deemed to have insufficient reserve funds to pay for structural repairs among other risky scenarios … accepted accounting principles every financial statement should include a balance sheet assetsliabilitiesequity …

By Emily Myers |February 22, 2023 - 3:30PM
5 ways NYC buyers can lower their closing costs

… For many people being able to buy an apartment or townhouse in New York … stretch especially when interest rates are on the rise Plus coops typically require ample cash reserves on top of a down …

By Evelyn Battaglia |January 5, 2023 - 1:30PM
What NYC buyers can expect to pay in closing costs

… When buying an apartment or townhouse in New York City youll need to cough up more than just the down … the property they are interested in says Adam Stone  a real estate attorney at  The Stone Law Firm  I often say I …

By Evelyn Battaglia |December 19, 2022 - 12:30PM