The Emotional Component of Real Estate

Emotional Cost Real Estate

In 1978 Sony invented a device that enabled people to carry their music with them, and play cassettes (that’s what we called them then) without being tied to their home. The Walkman revolutionized the music industry, and paved the way to mobile music. They were first, and the innovator. Why then do I have an …

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The Bright Side of Tighter Underwriting Standards

Real Estate Transactions

When I first started practicing real estate law many years ago, I remember getting a call from a mortgage broker who was representing my client, the buyer, to give me an update on how the financing was going.   “Well,” he started, “we pulled his credit and it was around 620, and this is a …

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But You Said … !

New York Real Estate

The buyers were assured that a lovely roof deck would be theirs alone. “Private,” the web listing said. But it wasn’t until the board interview—post–contract signing, post–six-figure deposit—that they learned the truth: Only a sliver of the roof was theirs. The rest, including a section that abutted the master bedroom, was common space. It’s an …

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Pretending to Be a Coop: Confessions of a Condominium

NYC Condo

I used to study the violin when I was a teenager.  Home alone in the summer practicing it could get boring, so I would imagine walking onstage to the roar of applause as guest concert master at the Moscow Philharmonic, and having to stand and then sit again three times just to calm the ecstatic …

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A Lawyer’s Guide to Preparing For a Board Interview

Board Review

So you have gotten this far.  Congratulations.  Made it through the search for an apartment, the contract negotiations, the shockingly complex financing application with your bank, gotten reference letters from your third grade teacher and the person who sat next to you on the subway for years when you were an intern on Wall Street …

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Negotiating to Win?: Be Careful

Negotation Real Estate

I spend a good part of my day negotiating real estate transactions, contract terms and resolving disputes that arise in the course of a deal.  It’s one of the few good things that came out of the financial collapse of a few years ago:  it allowed me to dust off my negotiating skills and begin …

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Financing Issues Get Even Trickier


As though today’s real estate financing market weren’t enough of a minefield, add to the mix. New regulations issued by FNMA, and soon to be enacted similar set by Freddie Mac, require lenders planning on selling loans in the secondary market to do a pre-closing credit check on borrowers before funding the loan. What does …

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