Category Archives: Mortgage Financing

Friedberg Cohen Coleman & Pinkas, LLP Tip of the Month

As the preferred attorney for CondoDomain NY, I will be posting tips periodically to help prospective buyers in today’s real estate market. Please visit our Closing and Title page for more information.
Q. How can I protect my deposit in the event my lender is unable to provide financing?

A. Funding Contingency: This eliminates all risks associated with financing in the event your lender becomes insolvent, is put into a receivership by the Federal Government, etc…. and is effectively no longer conducting business. A sample funding contingency would read “If Purchaser’s Institutional Lender or Licensed …

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by Anthony Longo on February 18, 2010

New York City MLS – Will this finally open up competition in Manhattan and allow for discount brokers?

(Originally posted on CondoDomain HQ Blog)
Inman News by way of The Real Deal in New York published an interesting article regarding the all new MLS in New York City. As you may know, New York City has long operated without an official MLS system. Power brokerages like Corcoran, Prudential Douglass Elliman, Halstead and Brown Harris Stevens have continued to grab massive marketshare and provide “mini MLS’s” via their own personal websites including ONLY their own firms real estate listings.
New companies have popped up in recent years and have made decent …