Larry Rothman, Author at ELIKA New York

6 min

Importance of Reviewing Board Minutes in a Condo or Co-op

Buying a condo or co-op in New York City requires careful due diligence. Understanding the contract of sale and scrutinizing board meeting minutes are essential to protect your investment. This…

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REBNY Financial Statement for NYC Real Estate Buyers

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5 min

REBNY Financial Statement Sample & Instructions

When you’re getting ready to make an offer on an NYC home, you need to be sure that your financials are rock solid. The usual way to accomplish this is…

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5 min

Condos vs. Co-ops in NYC – Know The Difference

New Yorkers have a relatively firm understanding of the real estate market and its nuances. This is particularly true regarding the trade-offs between condo vs. co-op. However, if you’re considering…

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5 min

How to Set Up an LLC to Buy Real Estate in NYC

The idea of purchasing an NYC home through a Limited Liability Company (LLC) is something most investors will be familiar with. Rather than owning the business yourself, you’ll be holding…

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5 min

Should My Offer Include an Escalation Clause in NYC?

In a fast market where homes sell swiftly, an escalation clause in your purchase offer could give you an advantage over competing buyers. Typically, escalation clauses are not a common…

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Fixed Rate vs. Adjustable Rate Mortgage Loans

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7 min

Fixed Rate vs. Adjustable Rate Mortgage Loans

Whether you’re looking to buy a new home or remodel an existing one, you will need a loan. Homebuyers had only three mortgage loan types to consider in earlier times.…

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2 min

Real Estate Agent vs. Broker: Explained

People often confuse the terms of real estate broker and agent. While they perform similar functions in the home buying and selling process, they differ. It is worthwhile to know…

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3 min

Should You Pay for Mortgage Discount Points?

Mortgage points are upfront interest a buyer pays at closing. For example, if you choose to pay two points on an $800,000 mortgage, $16,000 is due at closing or rolled…

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Analyzing 100 Years of Real Estate Price History in Manhattan

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3 min

Analyzing 100 Years of Real Estate Price History in Manhattan

With the current state of real estate in New York and the potential growing bubble on Wall Street, more and more people are looking to diversify investments into real estate, particularly…

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The Co-ops Appraisal Process in New York City

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4 min

The Co-op Appraisal Process in New York City

Obtaining an appraisal is an essential step in buying a co-op. The lender requires one for purchases and refinancing. So naturally, the financial institution wants to make sure it is…

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