Spinnickie Law Firm Blog

The Spinnickie Law Firm, LLC Blog provides information pertaining to real estate transactions and landlord tenant in a down to earth manner. We seek to examine questions and common issues associated with real estate law so that prospective purchasers, sellers, borrowers and landlords are better equipped with knowledge and confidence.

What should I buy? Houses, Coops, Condos, Oh My!

You have finally made the decision to buy real estate. You are over making monthly payments to a landlord and want to see your monies directed toward a solid investment. You begin to scour the real estate internet sites, and begin to narrow down your search options. You know how many bathrooms you want. You know how many bedrooms you are looking for and that you want an updated kitchen. But do you know what kind of property you want? Condominium, Cooperative, Single Family Home… what does all this mean? The various types of properties provides for different types of ownership and different obligations. Before you make the calls to your real estate agent, perhaps you should quickly review these ownership rights and obligations. 

Continue Reading "What should I buy? Houses, Condos, Coops, Oh My!"...... 

Breaking up is Hard to Do: Due on Sale Clauses

Buying a home is an important step in life. Most of the time, people do not purchase real property on their own but rather enlist their spouse, life partner or a closest friends and family to share the responsibilities, obligations and enjoyment surrounding this all important purchase. It represents a life change, a movement forward and as well as a prudent investment. 

Continue Reading "Breaking Up is Hard to Do: Due Upon Sale Clause"....

New York Property Condition Disclosure Statement: The $500 Credit Waiver

For anyone who has sold real estate in New York State, there was a time where your attorney or realtor has advised you to provide a $500 dollar credit to the purchaser in lieu of completing a six page disclosure statement. 

Closing Costs - Am I Financially Prepared for My First Home Purchase

When shopping for a home, typically your price range is determined by three main concerns. Your deposit, your monthly mortgage payment and your monthly allocation for home insurance and property taxes

Continue reading "Closing Costs - Am I Financially Prepared for My First Home Purchase"

Title Insurance - A Necessary Expense

“What is it for?” “Why do I need to pay this?” “How much is this going to cost me?” Chances are if you are a first time home buyer you have uttered these words. During a time when you are about to …

Continue reading "Title Insurance - A Necessary Expense"