Not only the Real Estate in Manhattan New York city is expensive, sometimes the closing cost can be intimidating as well. It is important to calculate the closing cost or have an idea of it before buyer starts to look at properties. My buyers always ask... WHAT IS MANSION TAX, especially when the
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12/29/2008
New York city Real Estate is made up with Co-ops, Condominiums, Townhouses and Rental Apartments. Many of my out of town buyers have often seen 'SPONSOR' unit Co-Ops, I thought it will be helpful to create a post so everyone can understand the difference between a traditional Co-Op and a Sponsore
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12/25/2008
Ten Pointers to Help You Pass the Co-Op Board Interview 1 - Being invited to the interview is a good sign. The interview is the board's opportunity to meet you and ask specific questions about your application. The style of the interview can range from an informal gathering of board members in
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12/24/2008
The New York Times recently reported that real estate agents around the country are ratcheting up their efforts to woo the Russian oligarchs, Irish investors, Korean industrialists and other international cash rich buyers who have been making headlines with lavishing purchases. With my own clie
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12/22/2008
Closing Costs This closing cost guide is designed to give you the general costs associated with the purchase or sale of a cooperative, condominium or townhouse property. Please note that these are estimates and that potential buyers and sellers should consult their real estate attorney or financi
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12/21/2008
Renters Guide - 2008 This is a step-by-step, easy to follow outline of the entire process of renting an apartment in New York City. The rules are different here. The items which we categorize as "necessary" in this guide are in fact crucial. We can guarantee that if you do your homework, the proc
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12/19/2008
Glossary of Terms New York City Terminology Familiarize yourself with the following terminology. It's almost all unique to New York City. It's also important to know that we speak in "number of rooms," as well as using the definitions below. A room in Manhattan must be at least 100 square feet an
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12/19/2008
Glossary of Terms Types of Buildings Brownstones or Townhouses These are typically 4 to 6 story buildings built in the 1800's through the early 1900's. They are either single family houses or have been converted over the years into multiple apartments. As a single family home, a townhouse or brow
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12/19/2008
Fannie Maeyesterday informed the banking industry that it would raise the nationwide pre-sale requirements for new co-ops and condominium buildings to 70 percent starting March 1, one of several changes designed to reduce the amount of risky consumer loans in the market... GASP! for all the new d
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12/18/2008
Steps to Purchasing an Apartment The steps to purchasing a co-op or a condominium in Manhattan are very similar. To give you some idea of the timeframe, Let us assume that you have found the property on which you wish to place an offer and that you have spoken to a bank or mortgage broker (if fin
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12/18/2008
