If you are thinking of buying your frist home, You have come to the
right place. I have sold and currently have several co-ops for sale in
Park City Estate.I will also, handle all thedetails for you so that your
property will close in a smooth and expeditious manner. I will professionally guide
you through all the paperwork and negotiations on your behalf
(including meeting with agents, lawyers, The Broad, banks, inspectors and appraisers).
Please DON'T HESITATE ... CALL US TODAY if you have any questions!
Thank you for your question..
There is no tax advantage for your father-in-law since he does not pay income tax. If your name and your fiancee are listed on the shares, then you can deduct interest on the underlying mortgage.
I don't like Park City because of the cat walk. You would have to go outside of the building on your floor to get to the lobby.
You definitely need a buyers' broker (realtor), they are paid by the seller. The realtor would check what you need to do. Everyone needs a lawyer in NY. You want a lawyer that specializes in coops.
If the property is in your names, not your father-in-law's, there should be no special tax or other consequences. Most folks, not everyone, will give a break for a cash, non-contingent sale (no financing, no mortgage) . If they don't they're crazy. How much is harder to answer, and varies locally. An experienced agent that is local will know better than I - 5%?