The most common real estate purchases in New York are residential homes, condominiums, and cooperative apartments (cooperative apartments are not technically real property).
At Russo Law Group, P.C., we understand that for our New York clients, who may be either first-time or experienced property owners, real estate law in New York can be confusing. Our experienced New York real estate law attorneys can guide you in need of legal representation during the purchase or sale of a home. We can give you legal advice through all stages of your real estate sale or purchase in New York.
Why Work with a New York Real Estate Attorney When Buying or Selling a Home?
An experienced New York real estate attorney will guide and protect you through the entire real estate transaction. This transaction type includes negotiating the purchase/sale contract to obtain favorable terms on your behalf (i.e., contingency clauses, walk away rights, mortgage provisions, etc.). Be mindful that the entire transaction stems from the contract, so it must be well written, vigorously negotiated, and protective of your interest.
What are the steps in the New York home closing process?
Transactions can move at the speed the buyer or seller are comfortable with New York real estate. Therefore, you generally see an ‘all-cash’ transaction (one that does not require a mortgage) in the 30-day range from Contract to Closing. If the purchaser is obtaining a mortgage, the 60-day range is realistic.
The necessary steps of a home closing include:
- The seller accepts the buyer’s offer on the property.
- The contract is negotiated and signed.
- The purchaser works to obtaining mortgage commitment, if applicable.
- The seller clears any and all title issues.
- Walkthrough of the property
Russo Law Group, P.C. helps you and your loved ones handle Estate Planning, Elder Law, Special Needs Planning, Medicaid Planning, Trust & Estate, Guardianship, Small Business Planning, and Real Estate Law. We welcome you to contact our Garden City, Lido Beach, Islandia, or Manhattan, New York law offices to learn more about how we can help address your real estate planning legal matters.