A Purchase Consolidation Extension Modification Agreement (CEMA) is a financing technique used in New York State to reduce the mortgage tax owed on a new mortgage. It allows the buyer to assume the seller’s existing mortgage and modify it to the new loan amount, rather than obtaining a new mortgage and paying mortgage tax on the full amount. This can result in significant savings for the buyer.
Our team of attorneys has extensive experience in all aspects of real estate law, including Purchase CEMAs. We pride ourselves on providing personalized attention to each of our clients and working diligently to achieve their goals.
Our Purchase CEMA services include:
If you are considering a Purchase CEMA, have any questions regarding the process, and would like to do an initial consultation with one of our real estate attorneys, please call us at (212) 922-1330 or fill out our Contact Us form.