Blog Archives - New York City Real Estate Lawyers | Manhattan Real Estate Attorneys https://www.whfirm.com/category/blog/ Tue, 13 Sep 2022 12:42:03 +0000 en-US hourly 1 https://wordpress.org/?v=6.6 https://www.whfirm.com/wp-content/uploads/2020/04/favicon-17.ico Blog Archives - New York City Real Estate Lawyers | Manhattan Real Estate Attorneys https://www.whfirm.com/category/blog/ 32 32 Self-Managed Buildings: Tips for Brokers, Bankers, and Clients from a New York Real Estate Lawyer https://www.whfirm.com/self-managed-buildings-tips-for-brokers-bankers-and-clients-from-a-new-york-real-estate-lawyer/ Mon, 12 Sep 2022 16:55:18 +0000 https://www.whfirm.com/?p=2765 Self-management helps smaller buildings save on the expense of retaining a management company. In exchange, unit owners (or the shareholders of a coop) take on the responsibility of performing building related tasks. These can range from repair and maintenance work to accounting and record keeping services. While self-management can help buildings balance their budgets, self-managed […]

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]]> The Mortgage Contingency Clause https://www.whfirm.com/post2/ Wed, 29 Dec 2021 12:23:35 +0000 http://tester.optimumdc.com/?p=1251 By Jack Harari Sellers and Buyers alike often inquire as to the meaning of the “mortgage contingency clause,” one of the more significant clauses in New York real estate contracts. Simply put, a mortgage contingency clause ensures that if a buyer promptly applies for a loan from a qualified lender, but fails to obtain a firm […]

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]]> A Purchaser’s Guide to NYC Real Estate: What Is an Offering Plan? https://www.whfirm.com/a-purchasers-guide-to-nyc-real-estate-what-is-an-offering-plan/ Mon, 11 Feb 2019 20:40:14 +0000 https://www.whfirm.com/?p=2832 For clients buying into a Condominium or Cooperative, often their broker or attorney will provide them with a massive tome called the “Offering Plan.” When faced with approx. 500 pages of potential homework, clients often ask: what is this, why is it important, and do I really need to read the whole thing? Here’s what […]

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]]> NYC Real Estate Attorney’s Closing Report: July 2018 https://www.whfirm.com/nyc-real-estate-attorneys-closing-report-july-2018/ Tue, 15 Jan 2019 16:39:36 +0000 https://www.whfirm.com/?p=2588 Just a few of our recent closings. If you are also looking to buy or sell at these property addresses, you might want to give us a call. Property Value Transaction 415 Grand Street, NY, NY $785,000 Coop Purchase  300 East 85th Street, NY, NY $1,250,000  Coop Sale 264 Lexington Avenue, NY, NY $915,000  Coop […]

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]]> NYC Real Estate Buyers and Sellers Breathe Easier as L Train Shutdown Called Off https://www.whfirm.com/nyc-real-estate-buyers-and-sellers-breathe-easier-as-l-train-shutdown-called-off/ Tue, 08 Jan 2019 06:27:53 +0000 https://www.whfirm.com/?p=2786 As reported by the New York Times, Governer Cuomo has called off a planned shutdown of the L subway track, which would have lasted 15 months. The shutdown, which was intended to repair structural damage caused by Hurricane Sandy in 2012, will be replaced by a program of gradual repairs, and will accommodate full weekday […]

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]]> Westchester NY Real Estate Attorneys Beware: Fair Housing Law Amended to Protect Co-Op Purchasers https://www.whfirm.com/westchester-ny-real-estate-attorneys-beware-fair-housing-law-amended-to-protect-co-op-purchasers/ Wed, 19 Dec 2018 12:39:50 +0000 https://www.whfirm.com/?p=2769 In an effort to combat discriminatory practices by coop boards, Legislators in Westchester have amended the county’s Fair Housing Law (Article II of Chapter 700), effective immediately.  This new amendment attempts to close a loophole by which coop boards could potentially discriminate against prospective purchasers by delaying action on their application beyond a reasonable time […]

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]]> The Top 5: What Bankers Love to See From Their NYC Real Estate Attorney https://www.whfirm.com/the-top-5-what-bankers-love-to-see-from-their-nyc-real-estate-attorney/ Tue, 11 Dec 2018 16:17:27 +0000 https://www.whfirm.com/?p=2690 Our firm has represented a multitude of lenders in NYC real estate transactions over the years, working closely with loan officers and borrowers to see all parties to a smooth and successful closing. While each lender works somewhat differently, our experience has given us significant insight into what bankers love to see from their attorneys. […]

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]]> I Bought a Condo in NYC—Do I Need to Pay for my Recorded Deed? https://www.whfirm.com/i-bought-a-condo-in-nyc-do-i-need-to-pay-for-my-recorded-deed/ Thu, 06 Dec 2018 16:17:12 +0000 https://www.whfirm.com/?p=2677 This is one question that we hear frequently from our former clients, and the short answer is — no. Once closing is complete, the title company is responsible for ensuring that the deed becomes public record by sending it to the county clerk for recording. Once the deed is recorded, the county clerk’s office generally […]

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]]> GUEST BLOG: How Lenders and Banks Approve Coops and Condos for NYC Apartment Purchases https://www.whfirm.com/guest-blog-how-lenders-and-banks-approve-coops-and-condos-for-apartment-purchases/ Mon, 19 Nov 2018 15:56:14 +0000 https://www.whfirm.com/?p=2680   By Keith Furer, Guardhill Financial Be a smarter investor by understanding how lender approvals on buildings work. Whenever someone gets a mortgage on a unit within a coop or condo, a lender must not only approve the borrower, but separately approve the building. Like the borrower, a coop or condo must also meet certain requirements […]

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]]> Deadlines Within Deadlines: Cooperative Board Packages and Commitment Letters in NYC Real Estate Closings https://www.whfirm.com/deadlines-within-deadlines-cooperative-board-packages-and-commitment-letters/ Tue, 25 Sep 2018 15:32:34 +0000 https://www.whfirm.com/?p=2661 A buyer (for purposes of this article, let’s call her Sally Streetwise) works with her broker to find a property she loves in a beautiful cooperative. The brokers work with the buyer and the seller to reach agreement on the key deal points and then turn the delicate deal over to the lawyers to conduct […]

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