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Weinstein, Chase, Messinger & Peters, P.C.

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Brooklyn, NY 11242

Phone: (718) 858-3100

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New York Residential Purchase of Houses and Townhouses

Residential property can include condominiums, apartment complexes, single family homes, mobile homes, houseboats, townhouses and multi-family dwellings. House and townhouses are some of the most common forms of residential properties on the housing market today. Houses usually have three bedrooms and a basement and cost quite a bit more than a townhouse. A townhouse could also contain three bedrooms and a basement but they cost considerably less than a house because they are not as large as a traditional house. Townhouses are the perfect first house for a newlywed couple looking to not spend that much money on their first residence together. When purchasing a residential property such as a house or a townhouse the buyer should always consult their attorney prior to making the purchase to make sure that the contract they are signing is not in violation of any laws or other housing codes.

Are you interested in more information regarding your rights under New York Residential Purchase of Houses and Townhouses?  Contact one of the experienced New York Residential Purchase of Houses and Townhouses Attorneys with the law office of Weinstein, Chase, Messinger, & Peters today.

Townhouses are particularly popular in large cities such as Philadelphia, New York, Boston and San Francisco. Townhouses are more popular in large cities because they take up less space since they are all connected in a row. Individual houses are not connected and they have a certain amount of space in between two houses, taking up too much space on a block. There are two forms of townhouses; condominium townhouses and freehold townhouses. Condominium townhouses are not owned exclusively by the tenant, they only own their unit they live within. The entire building is owned by another person or a corporation. A freehold townhouse is owned exclusively by the people that live in it. An attorney can help anyone purchasing a house or townhouse with one or more of the following:

  • Accuracy and completeness of the seller's disclosures
  • Land use or zoning code violations and citations
  • Unpaid property tax liabilities
  • Unpaid fines for everything from litter to landscaping ordinance violations
  • Defects in title
  • Unsatisfied tax liens or judgment liens
  • Building code problems, inspections, and repairs
  • Problems with boundaries, access, or easements

When purchasing a house or a townhouse one should always test the market before determining which property to purchase. Always browse the market, especially with the attorney, who will not pressure the buyer into purchasing any one house or townhouse because they are not trying to make a sale.

Are you interested in more information regarding your rights under New York Residential Purchase of Houses and Townhouses?  Contact one of the experienced New York Residential Purchase of Houses and Townhouses Attorneys with the law office of Weinstein, Chase, Messinger, & Peters today.

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  Real Estate Terms


FAIR MARKET VALUE
-The hypothetical price that a willing buyer and seller will agree upon when they are acting freely, carefully, and with complete knowledge of the situation.

PMI
-Private Mortgage Insurance; privately-owned companies that offer standard and special affordable mortgage insurance programs for qualified borrowers with down payments of less than 20% of a purchase price.

Real Estate Investment Trust REIT
- Mortgage REITs deal in investment and ownership of property mortgages. These REITs loan money for mortgages to owners of real estate, or invest in (purchase) existing mortgages or mortgage backed securities. Their revenues are generated primarily by the interest that they earn on the mortgage loans.

More Real Estate Terms >


Our New York Real Estate Lawyers can help you with real estate contracts and with many of the topics below, contact the New York real estate lawyers now.

REAL ESTATE TOPICS



DID YOU KNOW ?

ALTERNATE DISPUTE RESOLUTION (ADR) can be a real estate legal option

This is A range of different forums and processes which can be utilized to resolve a dispute.

For example arbitration, collaborative problem-solving/consensus-building, negotiation, facilitation, mediation and conciliation.

Acceleration clause is a real estate contract option

A provision in a mortgage, trust deed, promissory note or contract for deed (agreement of sale) that, upon the occurrence of a specified event, gives the lender (payee, obligee or mortgagee) the right to call all sums due and payable in advance of the fixed payment date.

Contact our New York Real Estate Lawyers Today

NY State Published Real Estate Guide

New York State Attorneys Office on Tenant Rights, This is a guide on NY Tenent's Rights published by NY State. Read More >

Additional free copies of "Tenants' Rights Guide" are available from the New York State Attorney General's Office, 120 Broadway, New York, NY 10271 or from any regional office of Attorney General Eliot Spitzer.

 


NY real estate lawyers handle legal cases related to real estate laws for New York, the surrounding states and following areas:

  • New York
  • NYC
  • Brooklyn
  • Bronx
  • Queens
  • Long Island
  • Staten Island
  • NY Metro Areas


 

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