Showing posts from 2020

Legal Line - Question of the Week - Neil B. Garfinkel

  Question: I am a licensed real estate salesperson and I represent an owner who is considering leasing her condominium to a foreign government official who has diplomatic immunity. What is diplomatic immunity? May a foreign government official waive their diplomatic immunity so that the owner retains her ability to sue them in the United States? Answer: Diplomatic immunity is a status granted to certain foreign government officials that removes them from the jurisdiction of United States courts. Therefore, a foreign government official with the status of diplomatic immunity (a "Diplomat") cannot be sued in the United States.   The status of diplomatic immunity belongs to the Diplomat’s country and not to the individual Diplomat. Accordingly, individual Diplomats cannot waive their diplomatic immunity. In many instances, the Diplomat’s country will not waive diplomatic immunity, making it practically impossible to successfully sue the Diplomat in a court in the United States.


WASHINGTON - The Federal Housing Administration (FHA) today announced the agency's new schedule of loan limits for calendar year 2021 for its Single Family Title II forward and Home Equity Conversion (reverse) Mortgage insurance programs. Loan limits for most of the country will increase in the coming year resulting from robust house price appreciation, which is factored into the statutorily mandated calculations FHA uses as part of its methodology for determining the limits each year. The new loan limits are effective for FHA case numbers assigned on or after January 1, 2021. Read FHA’s Mortgagee Letter on 2021 Forward Mortgage Limits. Read FHA’s Mortgagee Letter on 2021 Home Equity Conversion Mortgage (HECM) Limits. FHA is required by the National Housing Act, as amended by the Housing and Economic Recovery Act of 2008 (HERA), to set Single Family forward loan limits at 115 percent of area median house prices, subject to a floor and a ceiling on the limits. FHA calculates forward
HOW TO IMPROVE YOUR CREDIT SCORE Your credit scores usually determine the price you pay for your money (your mortgages, your auto loans  and leases, your credit cards, business loans, etc.). Perhaps the most significant part of your credit  report is your credit score. Credit scores range from 350 to 850, with 850 being the best possible  credit score that you could receive, and 350 being the worst possible credit score. There are five factors  that determine your credit score: YOUR PAYMENT HISTORY: 35% IMPACT ON YOUR CREDIT SCORE Paying debt on time and in full has a positive impact. Late payments, judgments, charge-offs, collection  accounts and bankruptcies have a negative impact. If you have had any bankruptcies within the last 7  years, it will seriously affect your ability to borrow or establish new credit accounts.  If you have had any  judgments within the last several years, it is very important that you pay off the judgment and get a  "satisfaction of judgment" from

All Cash Client Question About The Transaction Timeline From Contract On

  Good morning, Sharon.  You asked me about the timeline for the purchase application and board package in your text, but I figured I'd write to you here.  The Due Diligence: 2-5 days usually First, your attorney will do the due diligence work looking through the building financials, the minutes of the coop meetings, the by-laws, the offering plan, and other sources to see how the coop is doing, if there's any litigation, any current assessments and/or talk of future assessments, etc. She will also negotiate the contract to make sure you are protected, etc. The Contract Signing: 2-5 days usually   After the due diligence work is complete, your attorney will discuss her findings with you and will either call you to sign the contract in her office or will email you the contract for you to sign it digitally.  She will also ask you to make your deposit of 10% of the accepted offer amount. That could be made by a bank check or by a wire transfer. She will give you the options.  Then

Tips For The Final / Pre-Closing Walkthrough

Here are some tips for your pre-closing walkthrough.  1) As you enter the apartment start looking/inspecting the overall condition of the apartment (walls, floors, ceilings, windows, doors, etc).  The other should be in a similar condition to what it was when you first visit it. 2) The apartment should be at least broom-cleaned with all sellers' items removed. 3) Open & close the windows and doors. 4) Turn all light switches on and off to make sure they are working. 5) Bring your cell phone charger and test all electrical outlets. 6) Test all kitchen appliances to make sure they are in working condition (microwaves, dish/washer, fridge, stove/oven, etc).  7) Run the exhaust fans (if present) in the kitchen and bathrooms. 8) Open all cabinets, closets, storage spaces 9) Run all sink and bath faucets as well as the shower, and check for any leaks or other problems.  10) Flush toilets and look for drips, leaks, or problems. 11) Test

Tour NYC Museums, Parks and Cultural Institutions from Home; New Condos: Brooklyn's Old Eagle Warehouse Building Loft; Buy Anne Hathaway's UWS Penthouse; NYC's Most Expensive; Hudson Yards' Skyhigh Views; Brooklyn Heights Carriage House; Prospect Park South Beautiful Storybook Home

How to tour NYC museums, parks, and cultural institutions from your own home Stuck inside? You can still experience some of New York’s best cultural offerings from your home The best new NYC condos hitting the market this spring See the new condos that will hit the market this seasonc Gorgeous loft in Brooklyn’s old Eagle Warehouse building wants $2.35M The breathtaking unit has a dazzling clock that offers views of the Brooklyn Bridge Anne Hathaway lists stunning Upper West Side penthouse for $3.5M The Academy Award-winning actress bought the apartment with her husband Adam Shulman back in 2016 NYC’s 25 most expensive homes for sale See the blockbuster homes currently on the market in New York City See the incredible views from Hudson Yards’s sky-high observation deck The highest observation deck in the Western Hemisphere is now open to thrill-seeking visitors Striking Brooklyn Heights carriage

How to Add Another Bedroom to your NYC Apt / What's the difference: Common vs Maintenance Charges / Brownstones, Townhouses and Rowhouses / 7 Facts About Brownstones / Renters Tax Credit?

How you can add another bedroom to your New York City apartment BUY   What's the difference between maintenance and common charges? BUY   Brownstones, townhouses, and rowhouses—what are the differences? 7 facts you probably don't know about NYC's beloved brownstones RENT   Attention renters! Don't miss out on this credit when you file your taxes CALL / EMAIL ME! I'M HERE FOR ALL YOUR REAL ESTATE NEEDS! C: 212-321-0115 E: NYCTREALTY@GMAIL.COM Fernando Branco , GRI, ABR, CNE Lic. Assoc. Real Estate Broker Residential Real Estate Commercial Sales & Leasing  Graduate Realtor Institute (GRI)  Accredited Buyer Representative (ABR)  Certified Negotiator Expert (CNE) R New York 641 Lexington Ave, NY NY  10022 c: (212) 321-0115 e: e:               Working by referral. Let me help you find a home too!!