NYC real estate attorney Natalia Sishodia releases a new article (https://sishodia.com/) talking about how an NYC real estate attorney may be able to help. The lawyer mentions that buying or selling a property may be one of the most stressful events in someone’s life. This is why it is important for someone to seek the help of a real estate attorney when dealing with real estate things.
According to the NYC real estate attorney, “Real estate attorneys handle “real property” transactions. This includes assistance during the purchase and sale of single-standing homes, condominiums, co-ops, and land. In NY City, transactions can quickly become complex. For instance, co-op sales often involve a background check and qualifications.”
The lawyer explains that due to the complicated nature of real estate transactions in New York, it is advised to always hire an attorney to handle these transactions. Having an experienced attorney may be able to help the client understand what their next steps should be.
Attorney Natalia Sishodia discusses that someone who is purchasing a co-op is actually purchasing shares in the corporation that owns the building. Also in a co-op, the buyer would need to pay taxes, repairs, and insurance in proportion to the shares the buyer bought. Co-op approvals can be difficult, too.
Additionally, attorney Natalia Sishodia mentions that in an NYC co-op, the way an apartment is sold or rented can be often limited. It is also important to know that co-op tax laws can be complex and require a thorough understanding of co-ops and NYC laws.
Furthermore, the lawyer explains that it’s very important to distinguish between a condo and a co-op when looking for a new apartment in Brooklyn, Manhattan, and anywhere in New York City. A condo purchase includes common areas, such as hallways and elevators. The lawyer adds that the biggest difference between the two is that when buying a condo, the buyer buys a title and not stock in a corporation.
Lastly, attorney Sishodia explains that it’s very important to seek the help of an NYC real estate attorney when making any real estate transaction. Having an experienced attorney may be able to help them make guided decisions on how they should move forward with their transaction.
About Sishodia PLLC
Sishodia PLLC’s team of professional NYC real estate attorneys pride themselves on their ability to navigate complex investment laws and intricacies to offer the most comprehensive advice and guidance possible for their clients. The lawyers at Sishodia PLLC take time to fully understand each client’s unique goals and circumstances, minimizing potential risks and issues. Call them today at (833) 616-4646 for a consultation.
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