What is an Off Market Listing?

Answer provided by Neil B. Garfinkel REBNY Broker Counsel Partner-in-charge of real estate and banking practices at Abrams Garfinkel Margolis Bergson, LLP Answer: “Off-market” commonly indicates that the property is not listed for sale or has not been listed on a multiple listing service. REBNY and most MLS’s expressly forbid the promotion of exclusive listings […]

15 or 30-Year Fixed Rate Mortgage, which one is right for you?

Answer provided by Rafael Reyes, Originating Branch Manager at Cross Country Mortgage LLC. Do you want lower monthly payments now or do you want to pay off your home faster? That’s one of the primary questions to answer when deciding between a 30-year fixed mortgage or a 15-year fixed mortgage. 15-Year Mortgage You have 15 […]

What to know about Assistance Animals in Buildings with Pet Restrictions

Information provided by Neil B. Garfinkel, REBNY Broker Counsel, Partner-in-charge of real estate and banking practices at Abrams Garfinkel Margolis Bergson, LLP Many residential buildings in NYC have pet restrictions and policies such as “no pets,” “no dogs,” “cats only,” etc. While pets are not a protected class under the Fair Housing Act (“FHA”), a […]

6 Common Transaction Issues from Contract-to-Close

There are six major issues in getting from contract to close in Brooklyn NY. These are the “moments of truth that put transactions at the greatest risk. Knowing these is critical, but also knowing the certain ways in which they can go wrong is equally critical. Above all others, your agent and your real estate […]

A Guide to FHA Home Repairs in Brooklyn NY

FHA is a popular loan option for many Brooklyn home buyers, however, it is important that the home meets their guidelines. HUD is looking to cover three main points in their inspections: 1. Safety Protect the health and safety of the occupants. 2. Livability Adequate floor plan, bath, kitchen facilities, etc. 3. Soundness Correct physical […]

Brooklyn Real Estate Market Report: Q1 2022

Brooklyn Real Estate Market Report Q1 2022. Courtesy of the Brooklyn Home Team at Keller Williams Realty Empire in Brooklyn NY. Need Help? Contact Us anytime. Last updated on 4/25/2022. Market Snapshot Happy Spring from BHT! Hopefully you’ve been enjoying the weather as it begins to warm up ? Here at BHT headquarters we’ve been […]

Rent Stabilization De-Regulation in a 421a Building

Answer provided by Neil B. GarfinkelREBNY Broker CounselPartner-in-charge of real estate and banking practices at Abrams Garfinkel Margolis Bergson, LLP Question: It is my understanding that the Housing Stability and Tenant Protection Act (“HSTPA”) generally prohibits deregulation of rent stabilized apartments (meaning that a rent stabilized apartment will never become a free-market rate apartment). Does that […]

5 Tips for Multi Family Investing in Brooklyn

Brooklyn Investors continue to choose multi family homes, and it is no surprise considering the many benefits that come with them. Everything from their higher income potential to their ease of financing mean that investing in these properties is a smart move. If you are considering purchasing a multifamily property for the first time, you […]

What is a Title Company and what do they Do in Brooklyn NYC? 

We meet with home buyers and sellers every day, and one of the things that many people don’t understand clearly are title companies, title insurance, and how they affect them during the sale/purchase of a property. So, here is a quick primer on Title Companies, what they are, and what they do. If you have […]

FAQs regarding Buyer Representation in Brooklyn & NYC

Answers provided by Neil B. Garfinkel, REBNY Broker Counsel, Partner-in-charge of real estate and banking practices at Abrams Garfinkel Margolis Bergson, LLP FAQs: Q: Is a buyer always entitled to be represented in a transaction?A: Yes, the New York State Department of State (“DOS”) has consistently stated that a buyer always has a right to be represented in […]

What should I know about Buying a Coop in a Land Lease Building?

Answer provided by Neil B. Garfinkel, REBNY Broker Counsel, Partner-in-charge of real estate and banking practices at Abrams Garfinkel Margolis Bergson, LLP Answer: If a co-op building has a Ground Lease (also known as a Land Lease), it means that the co-op corporation does not own the land under the building. Rather, the co-op corporation leases […]

New Construction Pros and Cons

New Construction Pros and Cons You may be considering a new house or condo, but aren’t sure you’re totally willing to wait for one to be finished. If only there were a place you could get an overview of the pros and cons of buying new. Wait, there’s a list below! Pros of New Construction: […]

Your Guide to Buying an Older Home in Brooklyn NY

For a lot of home buyers, buying their dream home means choosing an older structure that has passed the test of time. These grand places have an undeniable charm about them, with classic styling that can be adapted to nearly any taste. Older homes can be incredible places to live and love, but no home […]

Step by Step guide to Mortgage Pre-Approval in Brooklyn NY

Step by step guide to a mortgage pre-approval in Brooklyn NY. Have questions? Need help obtaining a pre-approval? Feel free to Contact Us anytime.  If you find yourself sitting in a strange hallway, waiting for a stranger in a suit to size you up and decide if you’re worthy as your palms sweat and your […]

Understanding the Loan Estimate Form

Shopping for a house can be stressful, but choosing a loan has the potential to be just as bad. There’s a lot to know, a small window in which to figure it all out and a 30 year commitment to a loan product that might just not be right for you for to worry about. […]