Many first time home buyers, or even seasoned home buyers for that matter do not realize that there is a difference between purchasing a condominium (“condo”) and purchasing a cooperative (“coop”). While listing all the differences and nuances could take quite a bit of time as well as a lot more detail, for purposes of… Read more »
Posts Categorized: Real Estate
3 Good Reasons Not To Make A Payment Plan In Landlord Tenant Court
3 Good Reasons NOT To Make A Payment Plan In Landlord Tenant Court By, Robyn Latman, Esq. It happens all the time. In fact, it happens in most of the eviction cases that are filed in New Jersey. The parties settle their cases, and they enter into a payment plan for repayment of the past… Read more »
Condition of the Property on the date of closing
One issue that keeps presenting itself lately is the condition of the property at the closing. In the majority of residential transactions, the subject property is supposed to be left in broom clean condition, subject to reasonable wear and tear at the time of closing. There are times of-course where the property is being left… Read more »
Advocate vs. Adversary
One of the brightest legal minds that I ever had the pleasure of working for gave me some strong advice that I have carried with me throughout my career. He said, “Andrew, you need to advocate your client’s position, but you do not need to be adversarial about it”. I have carried this advice with… Read more »
Thank you for your support
On behalf of our law firm we would like to thank those of you who have made last year one of our most successful years to date. Such thanks is not only warranted to our clients (who biasedly we appreciate the most), but also to those who are on the opposite side of the transaction… Read more »
Short-sale Auctions
The Short Sale Process in NJ Has Changed Over the past several years the short-sale process has changed; sometimes for the better and sometimes for the worse. These changes generally (i) involved the short-sale seller, short-sale lienholder, and the short-sale contractual purchaser and (ii) pertained to documents that needed to be provided by the short-sale… Read more »
Failure to Extend the Mortgage Forgiveness Debt Relief Act and its effect on Short-Sales
As written before on this blog, one of the prime benefits of a person selling his/her home via short-sale, as opposed to letting his/her home be sold via sheriff’s sale, is that more often than not the outstanding balance owed to the primary mortgage holder after the short-sale has taken place would be forgiven. Of… Read more »
Underground Storage (Fuel) Tanks
One of the biggest concerns purchasers of real estate in New Jersey have (from both a residential and commercial perspective) are environmental issues. Part of this stems from health concerns, and part of it stems from remediation costs concerns. While the potential environmental issues that can occur are vast, for purposes of this blog we… Read more »
HOW OWNING A PROPERTY CAN IMPACT YOUR ABILITY TO GET A LOAN TO PURCHASE ANOTHER PROPERTY
One of the things that I’ve learned from the media, periodicals, and people I have spoken to is the key to a successful financial future is diversification. Diversification, however, does not only mean diversifying within the stock market itself, or having stocks, bonds, and mutual funds in your portfolio. It also can mean owning real… Read more »
Due Diligence: Why it’s important
Many times I am asked by a client buying a business to review a contract and not make many changes. The client’s reasoning is the business terms are great and he/she wants to close quickly. While I can certainly appreciate the value of getting a good deal, the best way for a buyer to decide… Read more »
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