New York Residential Real Estate Attorney Peter Zinkovetsky Discusses Residential Real Estate in NYC

September 06, 2022 at 23:53

New York residential real estate attorney Peter Zinkovetsky releases a new article (https://www.avenuelawfirm.com/residential-real-estate/) giving a brief overview of residential real estate in NYC and the laws that affect the market. Attorney Zinkovetsky mentions that the median sales prices of residential properties in New York City increased by almost 30% between 2018 and 2021. The lawyer explains that before deciding on whether to invest in residential real estate, it is essential to understand the factors affecting the NYC market.

According to the New York residential real estate attorney, “A residential property is one of the most critical assets for any individual. It can be a home, an office, an apartment, or any building that you use daily. In New York City, there are many different types of properties that you can buy, and these properties have their own set of requirements.”

New York Residential Real Estate Attorney

Attorney Zinkovetsky mentions that real estate law encompasses the statutes and regulations involved in buying, selling, and leasing land and structures. Laws passed by Congress to help govern the real estate industry are called real estate statutes. An example of one would be mortgage lending practices. State laws can help supplement federal law to offer more legal protection to property owners. Due to state laws, real estate market processes like buying a home in New York might differ significantly from those in California.

Aside from statutes, attorney Zinkovetsky explains regulations as another crucial part of real estate law. Regulations are interpretations or guidelines issued by government agencies. Tax guidelines issued by the IRS for homeowners follow under the category of regulations. Trade groups and industry organizations can also have regulations that real estate brokers and salespeople must follow.

Having the help of a qualified New York real estate attorney is beneficial in ensuring that a real estate transaction follows statutes and regulations. In addition, real estate attorneys can help provide an added layer of security to a transaction. An attorney can also help negotiate or find better deals to minimize risk and maximize reward.

“When buying or selling real estate, you may face people who want to take advantage of your situation, from fake companies who promise financial relief to real estate agents who misrepresent their credentials to scammers who attempt identity fraud. While most of us feel like we could see such a scam, that’s not always the case. Unfortunately, some of these frauds can be quite sophisticated. A lawyer can offer expert counsel to prevent these incidents from occurring. If you are affected by a scam or fraudulent deal, they can help you seek legal recourse against the other party to recover damages,” attorney Zinkovetsky emphasizes.

Lastly, although it is not legally required for real estate transactions to be handled by an attorney, it is a wise decision to hire one for both buyers and sellers. An experienced New York real estate attorney can help navigate the legal processes involved in a transaction and save time and financial resources.

About Avenue Law Firm

Peter Zinkovetsky is the founder of Avenue Law Firm. He is an experienced and highly rated New York attorney who represents local and international clients. Attorney Zinkovetsky teaches continuing education courses, writes a legal blog, has written articles for the New York Real Estate Journal, and is often invited to participate and present at conferences in the US and worldwide. His team of legal professionals at Avenue Law Firm has helped families regarding real estate matters. Call Avenue Law Firm today at (212) 729-4090 for more information on how they can help with real estate transactions.

Avenue Law Firm

99 Park Ave 10th Floor, New York, NY 10016, United States

(212) 729-4090

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For more information about Avenue Law Firm, contact the company here:

Avenue Law Firm
Peter Zinkovetsky
(212) 729-4090
peter@avenuelawfirm.com
Avenue Law Firm
99 Park Ave 10th Floor, New York, NY 10016, United States

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