As you shop for the perfect home, you will come across a variety of properties. Furthermore, some are being sold in the traditional manner while others come with some "baggage."
It doesn't matter if you are purchasing residential or commercial real estate, there may come a time when you run into a short sale. This is when the bank has agreed for the owner to sell the property for less than what he or she owes.
New York is home to one of the most robust real estate markets in the world. In addition to commercial property, such as office buildings, there are always people buying and selling residential properties. This includes single family homes, condos and townhouses.
Nobody wants to think about it when they are buying a home, but there could come a time when they are not able to make the scheduled monthly payment. If this happens, the lender will begin to consider their options, which often leads to foreclosure.
Sometimes, real estate transactions in New York can run into snags and fall apart. For sellers, this can be very detrimental, keeping a deal from going through and leaving them on the hook for more mortgage payments than they wanted to make. To see why this happens, take a look at the top three reasons that these deals fall apart.
The New York City real estate market is unlike any other in the world. All types of real estate transactions occur regularly, with some receiving attention from the public thanks to the type and/or price.