Category Archives: Real Estate

Discussion concerning matters related to buying, selling, mortgaging real estate.

Can I use a Power of Attorney for a New York Real Estate Closing?

I often have clients who, for various reasons, are unable to attend a real estate closing and ask if they can sign a power of attorney instead.  A power of attorney is a document in which a person appoints someone … Continue reading

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I’m buying a home in New York. Do I need a survey of the property?

When buying a new home, purchasers in the New York Metropolitan area typically obtain title insurance insuring their ownership interest in the real property being purchased. A report of title will be ordered by their attorney shortly after the contract … Continue reading

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I lost the original deed to my New York home. Will I have a problem selling my home?

Clients ask me this question quite often. The answer is almost always no. I believe the common misconception that a homeowner needs their original deed in order to sell their home arises from their experience with another document of ownership, … Continue reading

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Do I need homeowners insurance if I’m buying a co-op or condo?

Cooperative Apartment Corporations and Condominiums have “master” or “blanket” insurance policies insuring their buildings against fire and other hazards. But should you also have your own insurance policy? You definitely should! The blanket or master policy does not cover your … Continue reading

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My Spouse recently passed away. Do I need to change my deed? What if we owned a cooperative apartment? Must I change my stock certificate?

When married couples purchase real property in New York State, such as a one-family home or condominium unit, they own it as “tenants-by-the-entirety.” The law provides that when one spouse dies, the surviving spouse is, by operation of law, the … Continue reading

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How can I reduce my closing costs when refinancing my mortgage in New York?

When buying a home in New York State and especially in New York City, mortgage tax can often be the single largest component of your closing costs. For example, the mortgage tax in New York City for a mortgage, under … Continue reading

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I’ve made an offer on a house but the broker has told me it involves a “short sale.” How does that affect me as a buyer?

Short Sales have become more common as more and more homeowners find themselves “Under Water,” meaning that they owe more on their mortgage than their home is worth.  Normally, a homeowner Under Water would not be able to sell their … Continue reading

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