nyc real estate lawyer

From Sishodia PLLC -  Although you might not think about closing costs as a seller when you sell your property, they can have a significant impact on the final proceeds. The closing costs for sellers in New York City can range from 8 to 10% depending on the property type. It is therefore important to prepare. Natalia Sishodia, a top-rated NYC real estate lawyer, can help you understand the closing costs that may be associated with your home sale.

https://sishodia.com/nyc-home-sellers-closing-costs-calculator/

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

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From Sishodia PLLC - In this insightful episode, we delve into the complexities of New York real estate transactions, focusing on a crucial concern for property buyers and sellers: the mortgage recording tax. Drawing inspiration from the informative article titled 'How Do I Avoid Mortgage Recording Tax in NY?', we bring you a concise overview of the strategies and considerations involved in navigating this aspect of the real estate landscape in the bustling heart of New York City.

Join us as we uncover the significance of closing costs, which extend beyond the property's purchase price. These costs encompass a wide range of financial obligations, including application fees, legal expenses, and the often-unexpected mortgage recording tax. Learn how an experienced NYC real estate lawyer, like Natalia Sishodia from Sishodia PLLC, can provide invaluable guidance to ensure a smooth and cost-effective transaction process.

Our discussion centers around the innovative Consolidation, Extension, and Modification Agreement (CEMA), a strategic financial maneuver that holds the potential to significantly reduce mortgage recording tax liabilities during refinancing. Discover how this approach empowers buyers to pay taxes solely on the difference between their original loan and the new loan amount, thereby saving substantial funds. We delve into the intricate collaboration between buyers, sellers, and lenders that makes this approach possible, providing listeners with a comprehensive understanding of this impactful strategy.

Whether you're a prospective buyer or seller, considering a conventional property or a unique co-op arrangement, this episode offers a holistic perspective on the nuances of New York real estate. Tune in to gain insights that can make a substantial difference in your property transaction endeavors. For more personalized advice and expert consultation, reach out to Natalia Sishodia and the proficient team at Sishodia PLLC by using the provided contact information. Your journey to mastering the intricacies of mortgage recording taxes in New York begins here.

Sishodia PLLC

600 3rd Ave 2nd floor, New York, NY 10016, United States

(833) 616-4646

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From Avenue Law Firm - In this episode, we dive into the intricacies of property tax determination in the bustling metropolis of New York City. Join us as we explore the article 'How are property taxes determined in New York City' and unravel the complexities of this essential aspect of homeownership.

New York City residents are well aware of the hefty property tax bills that come their way. With approximately 45% of all tax dollars collected annually stemming from real estate taxes, it's crucial to understand how these taxes are calculated. We shed light on the step-by-step process employed by the government and discuss the role of a real estate lawyer in navigating this intricate landscape.

Discover how properties in New York City are classified into four distinct categories, including Class 1, Class 2, Class 3, and Class 4 properties. Delve into the factors that influence the determination of market value, such as statistical analysis and recent selling prices of comparable properties in your neighborhood. Learn about the assessed value, which is a percentage of the market value, and the limitations imposed by state law to ensure fairness.

Furthermore, we explore the various exemptions available to homeowners, such as the School Tax Relief (STAR) program, designed to provide financial relief to eligible individuals. Uncover the significance of the Department of Finance's Notice of Property Value (NOPV) and the right to appeal to the New York City Tax Commission if you believe your assessed value is too high.

Tune in to this episode to gain valuable insights into the New York City property tax system and equip yourself with the knowledge necessary to make informed decisions. Whether you're a homeowner, real estate enthusiast, or simply curious about the intricacies of property taxes, this episode is a must-listen. Stay informed, empower yourself, and navigate the world of property taxes in the Big Apple with confidence.

Avenue Law Firm

360 Madison Ave 9th Floor, New York, NY 10017, United States

(212) 729-4090

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