What Is A Mortgage Recording Tax?
Property buyers in NYC need to pay a Mortgage Recording Tax when taking out a mortgage to buy a property or refinance an existing property.
Written by: Brett Ari Fischer - The New York City Broker
Long Island City
Long Island City had the honor of being an independent city for about three decades before it became part of New York City in 1898.
Written by: Brett Ari Fischer - The New York City Broker
What Are Inspections?
An inspection is an assessment of the property’s condition done by a licensed professional in which they aim to identify any problems with the property.
Written by: Brett Ari Fischer - The New York City Broker
HOAs vs. Common Charges vs. Real Estate Taxes
HOA fees and condo common charges are paid to the managing bodies responsible for the community, while property taxes are paid to the city government.
Written by: Brett Ari Fischer - The New York City Broker
What Is A Gut Renovation?
Compared to partial or cosmetic renovations, a gut renovation project can be costly, challenging, and time-consuming, but it allows you to recreate your home interior almost from scratch.
Written by: Brett Ari Fischer - The New York City Broker
What Are Flood Zones and Flood Insurance?
When you are buying an apartment in NYC, it’s important to see if it’s in a flood zone. This may require you to buy flood insurance and increase your homeownership cost.
Written by: Brett Ari Fischer - The New York City Broker
What Is A Flip Tax / Transfer Fee
A flip tax is a transfer fee (usually between 1% and 3%) that co-op sellers have to pay when selling their apartments.
Written by: Brett Ari Fischer - The New York City Broker
What Is An Estate Sale?
Estate sale refers to the real estate that is being sold by the heirs or a trust (or the state) after the passing of the owner of the property.
Written by: Brett Ari Fischer - The New York City Broker
DUMBO
Over the course of more than four centuries, DUMBO has evolved from a marshy farmland into one of the most expensive neighborhoods in Brooklyn.
Written by: Brett Ari Fischer - The New York City Broker
