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Brokers Agreements: The ins and the outs

First things first.  When selling real estate (be it an apartment house, office building, townhouse or a co-operative or condominium apartment) Sellers should enter into a written agreement with their Broker setting forth their understanding.  The agreement should be fair and reasonable for BOTH sides.  Selling real estate is a collaborative effort and the agreement between the Sellers and their Broker should keep both sides eager to work together and ensure that neither feels they have been or will be treated unfairly.

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Negotiating the Commercial Loan Commitment

As interest rates for commercial loans remain low, many property owners will pursue financing for their businesses or seek to refinance their current loans.  The first document that a borrower is asked to sign in connection with a commercial loan is the loan commitment letter.  The main goal of the loan commitment letter is to set forth the basic terms of the loan (how much, for how long, at what rate) as well as outline some other critical provisions (e.g., prepayment rights, transfer rights and required escrows).

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Foreign Notion – Can a Buyer be Liable for the Seller’s Income Tax?

Contracts for the purchase or sale of real property in New York invariably include a provision that requires the seller to deliver a so-called “FIRPTA” affidavit to the purchaser at closing.  Often times, the parties are not familiar with the requirements surrounding the FIRPTA affidavit.  However, in today’s market, with the ever growing presence of foreign real estate investors and developers, it is imperative that real estate buyers and sellers understand the implications of the FIRPTA requirements.

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The Executors Corner: What You Need to Sell That Apartment

One has to think that the old adage “No Good Deed Goes Unpunished” was designed specifically for the executor whose job it is to gather up and distribute the assets of the decedent while paying off any claims and juggling the bent out-of-shape beneficiaries who feel that they somehow and someway have been shortchanged.

Among the executor’s more vexing challenges can be the sale of a co-operative or condominium apartment.  In that situation, the buyer’s lawyer and title company will want to be very sure that the executor has the ability to make the sale free of any liens or claims.  For a co-op, the managing agent will also get into the act and demand his pound of flesh.  In order to complete the sale, the executor must usually provide the following:

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What to Expect from a Luxury Real Estate Agent

One of the primary things that you may expect with a luxury real estate agent is an outstanding marketing service with regards to selling a luxury property. Because they are working with a particular industry of the housing market with specific clients, you should stick to specific steps to achieve success.

This may include things like employing a professional team that will work to create and implement marketing materials to an extremely high standard. As the brochure or even profile of your home should be of the highest quality possible in an effort to attract potential buyers, a dedicated team in this particular division is often what a luxury agent can deliver.