Purchasing a house can be a very difficult time. Not only do you have to worry about getting the home for the right price, but then you have to worry about home inspection, securing financing, and then finally, the closing. However, when it comes to purchase agreements, what happens when the seller changes their mind…

Paying off your mortgage every month can be a very daunting task, especially if you miss a payment and are unable to pay your mortgage. Most homeowners or borrowers believe that if you miss a payment you may as well throw in the towel and agree to give up your home. Fortunately, however, in reality,…

This article shall address the questions and concerns when there is a breach of a real estate contract by a buyer. Selling a home can be troubling enough, but it can be even more worrisome when there is a real estate breach of contract. Understanding and being familiar with real estate contract law can be…

Whether you’re purchasing your first home or if you’re a veteran when it comes to real estate and you’ve purchased multiple homes in the past, at some point, in each real estate transaction, you will encounter the term “Due Diligence. ”You’ll hear experts say to make sure to “do your due diligence” when buying property….

Purchasing a home can be a long and stressful process, especially when purchasing an older home from a prior owner. This is both due to the complexity of the home sale process and the possibility of discovering home defects after purchase. Most houses will have minor items that need to be either fixed or replaced…

The real estate market is a fickle ally and is subject to peaks and falls. Unfortunately, deciding when the best time to buy a house might be more difficult than it may seem. As real estate attorneys serving clients in the very competitive New York City real estate market we are often asked by clients,…

How much are closing costs in New York? Unfortunately, the average closing costs in New York for buyers will depend on many different factors, but this article seeks to shed some light on the process. New York City real estate closing costs are one of the substantial parts of the overall cost of the deal,…

Real estate brokers can be sued for many different reasons, but some of the most common lawsuits they can be subjected to are real estate misrepresentation lawsuits. Exaggeration and puffing are common sale tactics in the real estate industry, and so it is important for both buyers of property and real estate brokers to understand…

Buying property in the real estate market is a complicated process. Admittedly, the process has become so complex because of lawyers (like us), but all of the various provisions and terms in the average real estate contract serve a purpose. Today we are going to explain the concept of the “Appraisal Contingency.” What is an…

If you have recently entered the housing market or purchased a home, you may have heard about a lending concept known as the mortgage contingency. A mortgage contingency is a clause in the home sale contract that makes the buyer’s purchase of the home contingent on securing financing, such as a mortgage or a deed…

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