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.
A flip tax is a transfer fee (usually between 1% and 3%) that co-op sellers have to pay when selling their apartments.
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.
NYC is home to over 3.4 million apartments, and these apartments can be divided into numerous types based on layouts and some other factors.
A condo questionnaire is a document used by mortgage lenders to assess condominium buildings a prospective borrower is trying to buy a condo in.
Closing costs can range between 2-4% of the property price for buyers and 8-10% for sellers because they have to pay the brokers’ commission.
In NYC, a Certificate of Occupancy is issued by the Department of Buildings and determines the use and occupancy status of a building. Read on to find out more.
When selling a property (an asset) for a profit, you will have to pay capital gains tax, the amount of which is determined by several factors.
Cap rate is the ratio of an income-producing property’s Net Operating Income and market value, which gives a simplistic idea of the property’s return potential.
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s, when an unknown printer
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