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Archive for April, 2010

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Closed Houses

Closed Houses Open houses sell apartments, especially if you put on a good show. Such is the advice of John Herlihy a broker with Prudential Douglas Elliman, who recently took on a near death listing at 210 East 63rd Street, and revived it by turning the outdoor space into a happening.The apartment sold the same day. So why have some buildings closed the doors? Read more »
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More Legal Apps – Your Voting Rights

More Legal Apps - Your Voting Rights Your dogs have civil rights, which you know if you've checked out the first installment of Legal Apps -- Laws For Your Dog To Live By. So do you. Whether you live in a co-op or a condo, you have to abide by the laws of your land as set out in your buildings documents. But that's only the beginning. There are additional real world laws that may supersede what's in those documents and give you independent rights. Among the most fundamental are your voting rights. To see what they are, just click on Legal Apps at right. Read more »
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Off The Hook?

Off The Hook? Maybe you don’t know it, but right now in addition to all the other promises you have to make and amounts you have to pay before commencing renovations, most alteration agreements require you to indemnify your co-op and its directors and shareholders (among others) against any damage or claims resulting from the work you did. It’s just part of the price of having an apartment worthy of Architectural Digest. Say someone got injured and they sue you and the building, the building can sue you right back under the indemnity for the amounts claimed – and you’d likely be on the hook. Or would you? Read more »
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The Way Out – Part Two: The Flip Side Of Freedom

The Way Out - Part Two: The Flip Side Of Freedom The flip side of the freedom that comes with buying condos is that it’s easier to get in and harder to get out. Complain all you want about those pesky co-op boards that can put you through the wringer before they approve you. But if they don’t approve, they can reject you, which sometimes is exactly what you want. So what can you do? Read more »
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The Way Out – Part One:The Opposite of Acceptance Is Rejection

The Way Out - Part One:The Opposite of Acceptance Is Rejection OK, the market is getting better, or so it seems for now. Still in this economic climate skittish buyers have devised novel ways to get out of deals – from challenging floor plans to declaring the financial meltdown an Act of God, though it remains to be seen how many of these will succeed once they wend their way through the courts. So just what you can do to free yourself with impunity from the contractual bonds should the need arise? Read more »