New York City real estate lawyer Natalia Sishodia (https://sishodia.com/) releases a new article 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.
“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 New York City, transactions can quickly become complex. For instance, co-op sales often involve a background check and qualifications,” the New York City real estate lawyer says.
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.
Sishodia PLLC | Real Estate Attorney and Estate Planning Lawyer | Asset Protection Law Firm | 1031 Exchange - NYC
600 Third Avenue 2nd Floor, New York, NY 10016, United States
(833) 616-4646
Sishodia PLLC is a boutique New York real estate law firm offering experienced, individualized legal solutions to clients ranging from first-time homebuyers to seasoned real estate investors.
Sishodia PLLC
600 Third Avenue 2nd Floor, New York, NY 10016, United States
January 09, 2023 – New York City Real Estate Lawyer Natalia Sishodia Discusses Who Pays Real Estate Closing Costs in New York
January 06, 2023 – NYC Commercial Real Estate Attorney Natalia Sishodia Explains Purchasing and Selling Commercial Properties in New York
January 05, 2023 – New York City Real Estate Lawyer Natalia Sishodia Discusses the Disadvantages of Owning a Condo in New York
January 04, 2023 – NYC Real Estate Lawyer Natalia Sishodia Discusses the Red Flags One Should Look Out For When Buying a Condo
December 21, 2022 – NYC Real Estate Attorney Natalia Sishodia Explains What Questions One Should Ask Before Buying a Co-Op in New York
December 20, 2022 – Manhattan Estate Planning Attorney Natalia Sishodia Explains How Sishodia PLLC Can Help With Estate Planning
December 07, 2022 – NYC Condo Real Estate Attorney Natalia Sishodia Explains the Differences Between a Condo and a Co-op in New York
December 06, 2022 – New York City Real Estate Attorney Natalia Sishodia Explains How to Transfer a Title in New York
November 23, 2022 – NYC Foreign Investments Lawyer Natalia Sishodia Discusses the Legal and Tax Implications of Foreign Investment
November 22, 2022 – NYC Real Estate Attorney Natalia Sishodia Discusses How to Avoid the Transfer Tax in NYC