Buying

Who is responsible for the title search, buyer or seller?

Q: In a real estate transaction, who is responsible to get the title search done, the seller or purchaser?   Read More.

What does ‘Contract Signed’ mean?

Question: What does ‘contract signed’ mean on some of your listings? Answer: A contract signed means that a written agreement has been signed by both seller & buyer to sell the property. That written agreement may or may not have contingencies, or points to be accomplished before a closing occurs (and if contingencies are not met then the contract may become null & void) and it would also have a closing date which all parties can work toward.

Will Co-op Boards negotiate a down payment?

Q: As a first time buyer, I’m looking for a co-op in Manhattan.  I have a good job but haven’t saved enough for a 20% down payment. Are co-op boards negotiable about the amount I would be required to put down? Read More.

Do you have any market information about the Upper West Side?

Q: Do you have any market information about the Upper West Side?  I need more space – am thinking about selling my one bedroom for a two. Read More.

Do finished basements add value to my home?

Q: If I am paying higher property taxes on a finished basement and additional full bath in the basement….Then why is that not considered added value $ to my house when selling? And why can’t I advertise such when selling? Read More.

How is the Westchester housing market for single family homes?

Q: How is the Westchester housing market for single family homes? Read More.

What’s the average charge per square foot for co-op maintenance for a studio and one-bedroom in the West Village?

Q: What’s the average charge per square foot for co-op maintenance for a studio and one-bedroom in the West Village (Manhattan)? Read More.

My company is considering moving its activities to New York City. Is there a PPSF index for Soho?

Q: My company is considering moving its activities to New York City. Soho appears to be the best location—can you possibly provide a square foot/price index for that specific district in NYC? Thank you for your help inflatable human spheres. Read More.

Is it necessary to disclose my financial information at the time I submit my offer on a co-op?

Q: When an offer is made to a seller in a co-op building, is it necessary at that time to provide the seller’s broker with financial information? Twice after I provided a rather detailed financial statement upon my broker’s request, the seller then came back and raised the price 10%. My broker assured me that my financials met the criteria for the building and, in both cases, I met what the seller asked for or what the broker told me the seller would take. I believe the disclosure has been a disadvantage to me, and that after the sellers have seen my financials, they have been led to believe I would offer more. Read More.

My co-op is raising the monthly maintenance fees, which are already high. What are the consequences?

Q: My co-op in Westchester County is raising again the monthly maintenance fee. As a holder of one of the biggest apartments in the co-op, my quota is going very soon to be equal to my monthly mortgage. What are the consequences of this? Read More.