Real Estate

On Behalf of Marcus, Gould & Sussman, LLP | Dec 11, 2023 | Real Estate | 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, they may inadvertently overlook crucial details, miss valuable opportunities or even overpay for a property. This is why they mostly rely on an agent when purchasing.

On Behalf of Marcus, Gould & Sussman, LLP | Oct 20, 2023 | Commercial Real Estate, Real Estate | 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 yourself and a “loan policy” to protect your lender from issues that may arise months or even years after closing the purchase. A title insurance policy covers up to a specific amount, often equaling the property’s value.

On Behalf of Marcus, Gould & Sussman, LLP | Jun 21, 2023 | Real Estate | Finding the perfect apartment can be arduous. The process can 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 factors worth looking at. Sometimes, an apartment looks and feels right but has issues that cause trouble later when you have already signed the lease.

On Behalf of Marcus, Gould & Sussman, LLP | May 18, 2023 | Real Estate | 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 home sales work The current owner of the home took out a $200,000 mortgage. He has paid $50,000 on that mortgage. Therefore, there is $150,000 remaining to be paid to the mortgage company. He needs to move to a different community for work.

On Behalf of Marcus, Gould & Sussman, LLP | Mar 21, 2023 | Real Estate | 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 every state.

On Behalf of Marcus, Gould & Sussman, LLP | Feb 28, 2023 | Commercial Real Estate, Real Estate | 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 We strongly suggest a home inspection by a qualified home inspector before the contract is signed. A home inspection can uncover many hidden defects.

On Behalf of Marcus, Gould & Sussman, LLP | Dec 12, 2022 | Real Estate | 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 financing is an attractive alternative to lender financing when both parties benefit from the agreement.

On Behalf of Marcus, Gould & Sussman, LLP | Nov 4, 2022 | Commercial Real Estate, Real Estate | Owning real estate in New York can be rewarding. Many people own commercial real estate with another person. This is known as joint tenancy. What is joint tenancy and why might it be used for commercial property ownership? Joint tenancy means that more than one person owns a commercial real property. There can be two people jointly owning the property or multiple parties owning it.

On Behalf of Marcus, Gould & Sussman, LLP | Nov 3, 2022 | Real Estate | New York has many amazing homes for sale. However, in most cases, you’ll need to sign a real estate contract before a new home is yours. Before you sign this important document, it’s good to know about a real estate contract’s conditions and to thoroughly understand what is expected of you. The home inspection An extremely important part of the transactional real estate process is a home inspection.

On Behalf of Marcus, Gould & Sussman, LLP | Oct 26, 2022 | Real Estate | Buying a commercial property in New York may be an ideal way to increase your net worth while also diversifying your investment portfolio. In some cases, it may be possible to rent to both commercial and residential tenants at the same time. Of course, it will be harder to obtain a return on your capital if you pay too much for a given building. Do your homework Ideally, you’ll spend time learning more about what similar properties have sold for over the past several months.