Today, we’re going to talk about an important issue called title insurance. A lot of people know about homeowner’s insurance but not necessarily “title insurance.” If a house catches fire and there is physical damage to the building, the owner is covered because of the homeowner’s insurance. Similarly, if there is an unpaid debt against […]
June 18, 2014 By
New Condo v. Old Condo
Usually condo buyers have two options: either buy an “old condominium”, i.e. secondhand (usually buying from an individual owner) or a “new condo”, i.e., sponsor unit (buying directly from the developer). Real Estate Taxes If you are buying a sponsor unit, the condition of the unit is usually brand new, unless the sponsor rented it […]
May 22, 2014 By
3 Tips Regarding Tax Abatement for Newly Constructed Condominiums
Story: Kenneth is a young professional. He’s looking to buy a condominium with tax abatement, so that he can afford to pay the mortgage without paying too much in real estate taxes. In New York City, new construction condos built in certain areas are qualified to benefit from 421a tax exemption (for details check out […]
