Real estate transactions often follow the same process, making deals seem predictable. However, some circumstances can be too severe to ignore, leading to the deal's disruption or cancellation. Even if the sale is already at closing, the buyer can face significant...
Real Estate
Four common contingency clauses in transactional real estate
Buyers hold a certain power in real estate. One such power is the ability to include contingencies in a purchase contract. Understanding these contingency clauses not only provides a safety net but also increases their bargaining power in the transaction. In real...
What makes a title defective?
Purchasing property often involves subsequent procedures necessary to ensure the sale goes through without legal or financial issues. These steps can also help detect problems with the property that may not be visible immediately, such as title defects. When a title...
Why is it better to be represented by a buyer’s agent?
Property buyers are naturally motivated to maximize their investment and get the best possible exchange in real estate transactions. But for first-time buyers, the intricacies of closing a deal may not be as straightforward. Without proper guidance and representation,...
Do you need title insurance?
Whether buying a new home or a commercial property, you should consider among the requirements to close the deal title insurance. It is virtually always a prerequisite when seeking funding to purchase the property. You need both "fee" title insurance to protect...
13 red flags to look out for before signing a lease
Finding the perfect apartment could be arduous. The process could be lengthy and complicated based on what you believe is an ideal space. You could be considering a range of factors, including the apartment’s proximity and amenities. However, these are not the only...
Advantages and disadvantages of buying a home with a subject-to loan
If you are looking for a unique way to buy your dream home in New York, finding one where you can purchase it using subject-to loans may be the perfect solution. There are several advantages and disadvantages to purchasing a home using this strategy. How do subject-to...
Should you buy a home with termite damage?
New York residents in search of a new home may believe that termites are one of the few things that they do not need to worry about, but they should. Termites cause billions of dollars of property damage each year in America, and the burrowing pests can be found in...
Obstacles that may prevent or delay a new home closing
Real estate transactions can contain a minefield of possible deal-killing obstacles. The clock starts ticking from the moment both parties sign the purchase contract, and then the complicated business of selling and buying a home in New York begins. Home inspections...
The pros and cons of seller financing
Seller financing occurs in a real estate transaction when the property owner functions as a mortgage lender. Continue reading to learn about the benefits and drawbacks to the seller and buyer participating in this type of financial arrangement in New York. Pros Seller...