Real Estate

On Behalf of Marcus, Gould & Sussman, LLP | Oct 27, 2021 | Real Estate | Adverse possession is an often misunderstood way of gaining legal ownership of land in New York. Under adverse possession, people can gain title to land that previously belonged to another owner. It can apply to all different types of property in the state, from rural farmland to commercial real estate, whether or not the land has been developed. Regardless of the transfer of land via deed and title, a legitimate adverse possession claim can alter the chain of land ownership.

On Behalf of Marcus, Gould & Sussman, LLP | Oct 18, 2021 | Real Estate | When you are starting a New York retail store, you want to get the best deal on your lease agreement. A better lease agreement can put you in a better financial situation even if your business starts off slowly. Know your budget and necessary expenses Before you even try to negotiate your lease agreement, you should have an established budget and items you absolutely need to get things running. It’s a good real estate rule of thumb before you try to negotiate on an amount so that you don’t go overboard.

On Behalf of Marcus, Gould & Sussman, LLP | Jul 31, 2021 | Real Estate | The real estate transaction process can have bumps in the road for buyers and sellers. One possible hiccup is when the seller tries to back out of the deal. There are only limited circumstances in which they could do that without facing consequences. There are times when a seller can legally not continue the transactions Usually, the buyer and seller will sign a contract after they agree on all the terms of the transaction. Once that happens, both parties are required to deliver on their side of the deal.

On Behalf of Marcus, Gould & Sussman, LLP | Jul 29, 2021 | Real Estate | If you’re buying or selling property in the state of New York, you might have heard about its real estate transfer taxes. These are the taxes that the state of New York and certain cities charge for transferring the deed from one party to the next. In New York, the transfer tax rate equals $2 for each $500 or part thereof of the consideration. In certain cities, there are local transfer taxes. In Mount Vernon and Peekskill, there is a 1% tax paid by sellers. In Yonkers, the transfer tax is 1.5%.

On Behalf of Marcus, Gould & Sussman, LLP | Jul 27, 2021 | Real Estate | Unpermitted work or additions to a home without municipal certificates of occupancy or completion is any construction done on a home without the necessary legal permits and final municipal approvals.

On Behalf of Marcus, Gould & Sussman, LLP | Jul 3, 2021 | Real Estate | Before you move forward with purchasing a home in New York, you may want to take certain steps to make sure it is suitable for living and has no major defects. You also need to determine the home’s true value so that you know whether you are paying a fair price. According to Time, appraisals and home inspections are two important elements associated with buying real estate.

On Behalf of Marcus, Gould & Sussman, LLP | Jun 29, 2021 | Real Estate | Perhaps you are an architect looking at a stylish Victorian that would be perfect for your new offices. However, the house has been vacant a long time. Before you purchase the property, a quiet title action may be in order. Understanding quiet title The purpose of a quiet title action is to clear up the title on a piece of property. Whenever there is a transaction involving real property, clear title is essential.

On Behalf of Marcus, Gould & Sussman, LLP | May 24, 2021 | Real Estate | Preparing your home for sale in New York can be both an exciting and stressful time. Regardless of market conditions, pricing your home the right way can facilitate a successful sale. Determining a fair and competitive price for your home is a lot more than slapping a figure onto your listing. Careful analysis of several factors can aid you in making an informed and confident decision about the worth of your home. Market conditions Strategic pricing of your home can play to your benefit in several ways.

On Behalf of Marcus, Gould & Sussman, LLP | Mar 23, 2021 | Real Estate | You are probably eager to complete your real estate closing so that you can start living in your new house. You may even have a date set for your purchase to be over with. However, delays can pop up that slow down your closing, perhaps causing a substantial delay. It is not unusual for a real estate closing to take longer than you expect. The Day describes different situations that can slightly or substantially delay the completion of your home purchase.

On Behalf of Marcus, Gould & Sussman, LLP | Feb 8, 2021 | Real Estate | If you realize that your real estate agent is in breach of contract, you need to know what you can do. Real estate agents may breach the contract in several different ways. Securing a low price for your home According to Homelight.com, realtors may be in breach of contract if they do not tell you about all the offers on your home. One important element of a real estate contract is disclosure. Your real estate agent has to tell you about all the offers that buyers put on your house.