For most people, the purchase or sale of real estate is the largest type of transaction they will be involved in. To best protect that significant investment, it is important that a Bronx real estate law firm represents you in each real estate deal.
Much of New York is comprised of cooperative and condominium apartments with many areas of private homes. Each has distinct differences and advantages, which a prospective buyer must be aware of.
The basic consideration of cooperative ownership is that the individual residents do not own their apartments as real property; instead, they own a share of a corporation which gives to them the right to a long-term proprietary lease. Significantly, the tenant-owners, acting through the Board of Directors, have the right to approve or disapprove of all prospective owners, as well as any subleases contemplated. Because coops are corporations, New York has enacted significant statutory guidelines impacting their operations.
Evan Rogers is an experienced coop attorney with 40 years of experience representing cooperative corporation, buyers and sellers of coop apartments in the NY metropolitan area.
A condominium is real property that comes with a deed of ownership, yet what is owned does not include anything but the inside of the unit. The exterior space and common structures are all owned collectively by the individual owners. Although condos are typically easier to purchase or sell than are coops, condos do come with homeowners’ associations, which all individual owners must join. The association sets rules for a variety of activities and standards within the community, often referred to as CC&Rs, or covenants, conditions and restrictions. A condo owner in violation of the CC&Rs may be fined by the association.
One of the major issues in purchasing a home is ensuring what is actually included in the sale and the condition of the property and home. Obtaining the services of professional inspectors can provide peace of mind to a purchaser.
In all cases we recommend a professional inspection of the property before a buyer signs a contract. Evan Rogers has handled countless home sales throughout the Bronx and New York. Our consultation are free and our rates are reasonable.
If you are involved in the sale or purchase of real estate, our Bronx and Westchester real estate lawyers may be able to help. Evan Rogers has over 40 years of experience when it comes to helping people purchase and sell their condominiums, homes and cooperative apartments. Whatever your real estate needs may be, working with a Bronx and Westchester real estate attorney is the best way to maximize your chances of a successful transaction. When it comes to buying or selling real estate, there are a variety of issues that can arise. From confusing documentation to sellers or buyers who are not entirely honest throughout the process, there are many pitfalls that can compromise your chances at success in the industry. A real estate lawyer with decades of experience in managing real estate transactions in your local area has valuable knowledge that can assist you. Real estate lawyers can also help you protect yourself with thorough documentation. Whether you are a tenant, prospective homeowner or a landlord looking to rent out property you already own, it is essential to have all real estate documents laid out as clearly as possible. A lack of documentation can lead to confusion about what is expected from each party in the transaction. A real estate lawyer can create documentation that thoroughly explains the expectations of both the buyer and seller to ensure that there are no misunderstandings later on. In the event that you do have to go to court over a real estate issue, this documentation may be crucial when it comes to proving that you held up your end of the agreement.