Condominium Transaction Attorneys in New York

Our Westchester real estate lawyers will guide you through the process of buying or selling a condo in the New York area

The Law Office of Ball and Ferrari PC represents buyers and sellers in the purchase and sale of condominiums. We understand the needs and concerns of our clients and will protect your interests throughout the transaction.

We derive a great deal of satisfaction insuring our clients are making well informed decisions as they buy or sell a condo unit, whether it be their home or investment property.

A condominium unit has its own property tax bill(s) and an owner can purchase or finance a condo unit with a mortgage. Additionally, there are common charges which are paid monthly to a homeowner’s association for the maintenance of common areas and shared facilities, which are proportionately owned with other individual owners.

Buying a condo is much like buying a house. Unlike a cooperative, where the ownership interest is actually stock in a corporation that owns the building, a condominium, like a single family home, has its own deed and its own tax bill. The deed is proof of ownership of the unit, as well as a percentage of the common areas of the building, including walkways, driveways, access roads recreation areas. The percentage of your common interest will determine the amount of monthly common charges you pay for the condominium’s operation and maintenance.

Every condominium has an Offering Plan, also called a Prospectus, which has been filed with the New York State Attorney General’s office. The Offering Plan, which is bound like a soft covered book running hundreds of pages, among other things, defines the unit’s description and the individual owner’s responsibilities for maintenance and repair. A careful review of the Offering Plan is essential in order to understand exactly what is being purchased or sold.

Condominium Associations typically require a much less invasive application from a Purchaser than a Cooperative.

We at Ball and Ferrari PC will assist our clients with: