As the credit markets continue to shrink, and access to credit tightens up further, some of our clients are turning to seller financing, which is sometimes acceptable in small real-estate transactions. Indeed, the WSJournal reports that large commercial real estate transactions are also including seller financing as an option. According…
That is the question that many home owners, politicians, and policy makers are worried about these days. With various federally guaranteed and initiated plans designed to help homeowners in this time of falling home values and prices, how are we going to decide which homeowners should get assistance, and which…
To follow up my prior article on reverse mortgages, you should be aware of this interesting and informative article from the NYTimes., which gives you an interesting view of the types of products, the costs and risks associated with such investment stategies. Good luck.
To follow up on other stories in this blog, Short Sales gets very complicated and uncertain if there is more than one lender involved. Be sure that you are negotiating with the primary lender because junior lenders often absorb most of the loss, but you will need their approval too.…
So, your attorney has indicated that the Seller of a parcel of real property has an “old survey” and that you could get around the cost of a new survey with a survey inspection. What’s the difference? Survey: A licensed professional surveyor investigates the deed transfers into the owners of…
With all the negative press that the real estate market has been suffering lately, you are ready to look for homes in Dutchess, Rockland, Westchester, Putnam or Ulster County. You have that money burning the proverbial hole in your pocket seeking to purchase a foreclosed home for investment. Do you…
Are you buying a house in New York, but forgetting to calculate your full monthly nut? Mortgage payments are not the only bite out of the monthly payments that New York Homeowners and buyers make every month. Aside from the principle and interest payments, mortgage holders must pay real estate…
Upstate towns are jumping on the conservation band wagon. The most recent is the Town Board of the Town of North East in Dutchess County. New York State has authorized the Town Board of the Town of Northeast in Dutchess County to establish a Community Preservation Fund by referendum. The…
Sellers of homes in Hudson, Germantown, Chatham and all of the other towns in Columbia County, New York, can expect to pay a transfer tax on the transaction. Beginning December 1, 2007, title agents will collect the Columbia County Real Estate Transfer Tax of $2.00 for each $1,000.00 of the…
If you are lucky enough to afford a home valued at over a million dollars, you should be aware that New York Tax Law, Section 1402-a, imposes a 1% tax upon the buyer in the purchase of residential one, two or three family homes (including condominium or cooperative units). In…