Be sure to nail down what’s nailed down–and isn’t


(Flickr photo by K. W. Sanders)

Comes the traditional walk-through inspection just prior to closing and careless buyers may be in for unpleasant surprises.

Not just a leaky pipe. Or a pile of trash, a stove that doesn’t work or water that won’t flow from a faucet.

Each of those eventualities can and does occur. Each can be remedied at closing. However, another one can make for a tempest at the table. Continue reading

When deal sours, not so fast for returned deposit

Everyone knows that the deposit for the purchase of real estate will be returned to the buyer if the transaction falls apart for reasons specified in the contract.

But the fine print in the boiler-plate language in a typical contract of sale for real estate in New York is well worth reading. Continue reading