Unlike purchasing a standalone home, co-op and condominium transactions often involve distinct issues related to ownership and control. Because condos and co-ops may have multiple owners within one building, which may be governed by an association, these matters can be complex.

Before you buy or sell a condo in New York City, get professional advice from someone who has the experience and knowledge to find potential problems. The lawyers at Levy Davis & Maher, LLP, are ready to review all documents related to your transaction. We are committed to protecting your interests throughout this process.

Thorough Legal Guidance For Purchase And Sale Agreements

If you are a buyer, our legal team can review the key details of your purchase and sale agreement, including:

  • Which areas are common versus privately owned
  • Whether you could sell the condo without association approval
  • The extent to which you can change or renovate the unit
  • Whether you could rent your condo to another tenant, including to short-term vacationers
  • Which expenses you would need to cover, such as closing costs and inspection fees
  • How you would resolve disputes with other residents or the association

On the other hand, if you are a seller, we can pursue your interests and help you fulfill your duties such as:

  • Disclosing any hazards and defects as the law requires
  • Providing complete, accurate information about the unit and the condominium or co-op as a whole
  • Abiding with the condo association's sale requirements, if necessary
  • Sharing legal documents such as the association bylaws or the covenants, conditions and restrictions

Both parties within the transaction should also consider the tax effects. Our attorneys can help you assess the full scope of your real estate purchase or sale – and negotiate a better deal when possible.

Note: If you are a co-op or condo landlord, you might qualify for a tax-deferred 1031 exchange. Please see our Commercial Real Estate page for more information about this option.

We Advocate For Our Clients First

As your legal supporters, we will work to keep your transaction as simple and efficient as it can be. Levy Davis & Maher, LLP, has served New York for decades, and we will apply our knowledge and experience to your advantage. Call 212-371-0033 or contact our law firm online to discuss your goals for selling or buying a condo.