8 most important closing documents when buying a house
Know what you’re signing, and ask questions, Long Island real estate experts say. Click here to read more.
MoreWhat is a Cooperative Apartment?
What is a Residential Home? A residential home is considered a one to four family house and is the most common form of home ownership. The purchaser receives a deed to the home and the land that gives “fee-simple” ownership of real property. The purchaser is solely responsible for payment of all real estate taxes, […]
MoreWhat is a Condominium?
What is a Residential Home? A residential home is considered a one to four family house and is the most common form of home ownership. The purchaser receives a deed to the home and the land that gives “fee-simple” ownership of real property. The purchaser is solely responsible for payment of all real estate taxes, […]
More1031 Tax Deferred Exchange
What is a 1031 Tax Deferred Exchange? If real estate is held for use by a business or held for investment, when it is sold, income taxes must be paid on any gain realized from the sale. However, if instead of selling the property, it is exchanged for other business or investment property, no gain […]
MoreHow to Apply for a Mortgage Loan?
This web site is maintained by the Diamond Law Group. We are not mortgage bankers or mortgage lenders. You are not able to obtain a mortgage or cooperative apartment loan from our firm. The information contained on this web page is only meant to provide assistance and guidance for people who want to obtain a […]
MoreWhat Will My Closing Costs Be?
BUYER Closing costs are those expenses associated with the purchase of a property other than the contract down-payment. Closing costs fall into two major categories: Bank Related Expenses and Title Related Expenses. Bank Related Expenses: These expenses are those incurred in obtaining the mortgage to complete your purchase. They include: Points: A point (equal to […]
MoreWhy Do I Need a Lawyer?
Do I need a lawyer? I can buy an automobile or 100 shares of stock without a lawyer. Why not a one or two family home? (An article by the New York State Bar Association) Buying a home Buying a home may not only be the most significant and largest purchase you will make, it […]
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