For most people, buying or selling a home is the most expensive transaction that they will ever conduct. It also involves the law of real property, which is unique and raises special issues of practice and problems not present in other transactions. An attorney with extensive real estate transactional experience will help you avoid common problems with a home purchase or sale.
The purchase agreement (contract) is the single most important document in the real estate transaction. Although standard printed contracts are useful, they are generally inadequate to incorporate the real understanding of the buyer and seller without significant changes. An experienced attorney will explain the contract to the client and then work with the other attorney to make alterations to reflect the buyer's and/or the seller's desires.
At the closing, the deed and other closing papers must be prepared and signed. Title issues have been resolved so title can pass from seller to buyer. The closing statement is prepared, indicating the debits and credits to the buyer and seller. Your attorney has explained the nature, amount, and fairness of closing costs. The deed and mortgage instruments are signed and the closing is over for you. Your attorney will then proceed to ensure that all the pertinent documents are appropriately executed.
Buyers and Sellers in New York rely upon lawyers because real estate transactions in this area can be extraordinarily complicated. In addition to the usual concerns about contracts, liens and titles, New York’s numerous co-ops have financial statements and meeting minutes that require scrutiny. Buying a condo, and even a single-family home, can be equally challenging. If you are considering buying or selling real estate, please contact the Law Offices of Bernadette M. Crowley.
Please contact the Law Offices of Bernadette M. Crowley at (718) 423-5500 or email@example.com if you are buying or selling a home.