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About Reza Ardebili
Expertise
I am a Real Estate Broker. I own my own properties, and I build many 3 family homes. I can answer all aspects of purchasing/selling/researching on real estate in NY. I specialize in 2/3 families in NYC (5 boroughs). I can also help you through the process. BROOKLYN, MANHATTAN, BRONX, QUEENS’s properties in which you can build equity and your rental income pays for your mortgage is a very good idea. Most properties I sell/build are in this category. Hope I can be of help.

Experience
I have been in this field for 8 years now. New Construction, and finding investment properties are 2 of my specialties.

Organizations
I own my own real estate company. I am a Realtor. MLS member.

Education/Credentials
I am a Rutgers University Graduate. I recieved a B.A. in CIS. Minor in bussiness.

Awards and Honors
Just many thanks from the families I helped. That is enough award for me.

 
   

You are here:  Experts > Real Estate > Real Estate by Location > Real Estate: New York > Being bought Out by Partner

Topic: Real Estate: New York



Expert: Reza Ardebili
Date: 5/19/2008
Subject: Being bought Out by Partner

Question
Hi there,  I need some help.  My partner is buying me out from our apartment.  We are in good terms but he wants me to see a lawyer.  I agree that it is the right way to do it but I need some guidance about types of questions to ask the lawyer and what I need to be looking out during the process.

Answer
It's a regular purchase. You should get a lawyer, in NY it's required. I have some good lawyers who would look for the best of your interest.

There shouldn't be a lot of questions to ask. You just have to make sure, when you get your share of the money, and you move away from the property, that all your name, and your liabilities, and everything else is transferred to the other individual.

Any violations, any liens, what ever there may be should be cleared at closing.

You want to make it as if, once you leave that closing table, there are no more responsibilities, possibility of a sue, or any other liabilities on your behalf.

The lawyer should word the contract as such.,

you know the condition of the house, your partner know the condition of the house, the terms should be simple and right to the point.

no questions, just the price, and liabilities are what's important here.

Please call me if there are any other problems. (917) 379-5383

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