What do I need to know when buying property in New York?

"When buying property in New York, it is important to understand the local market, the zoning regulations and rental laws, and the state and local taxes associated with the transaction. It is also important to be aware of any building maintenance fees, special assessments, and condo fees that may apply. It is important to understand the total cost of purchasing a property in New York, including closing costs, legal fees, title insurance costs, transfer taxes, and other fees. Working with a real estate professional can be helpful in navigating and understanding the process of buying property in New York. Before signing any real estate purchase agreement, it is essential to have the property and contract inspected to check for potential issues or unresolved liens on the property. Lastly, it is important to be aware of any time frames or deadlines associated with the transaction to ensure that everything is properly completed," commented one expat who made the move to New York.