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Real Estate Lawyers
We provide the following essential services:
- Reviewing and drafting of Real Estate Sales Agreements
- Reviewing of title reports
- Reviewing of Building Department Records
- Reviewing Surveys and Building Plans
- Reviewing Offering Plans
- Reviewing any outstanding violations from the
- Department of Housing, Preservation and Development
- Acquisition of residential property in New York
- Reviewing Legality of All Structures on the Property
- Reviewing whether there are any unpaid water or real estate or franchise taxes, judgments, liens, ECBs, municipal violations
- Real Estate Closings
- Real Estate Refinancing
- Assignments of Mortgage
- Power of Attorney for any real estate transactions
- Deed transfers
- Rate Modifications
- Title and Lien Search review
- Institutional Lender Representation
- Free Closing Cost Estimate
- Assignment of Contracts
- Dismissal of Liens, Mortgages
Mistakes Happen When You Do Not Have Legal Representation
- Not Doing Research Before Signing A Binder
Buyers start rushing looking for houses, calling on advertisements and visiting show houses before doing some research. Never rush to pay a deposit. Also, think about how long you plan to own the house. Is it going to be difficult to resell? List all the negatives. Can they be eliminated ? No one likes to admit they bought the wrong house. Nevertheless it happens. You don't want to change your mind and lose your deposit. To make sure that this doesn't happen to you, do your homework well before you part with your hard-earned money. Learn from the mistakes of others. It's the best way to ensure a first-time homebuyer a good night's sleep.
- Not Doing An Engineer's Inspection Before Signing The Contract
Many buying will try to save $400 or think that the bank will do the required inspection to make sure the house does not have structural problems and does not need any major repairs, most Contract of Sale provide for the house to be sold "as is" but they do provide for: plumbing, heating, electrical systems to be in working condition at closing and roof free of leaks.
- Not understanding the home buying process
First-time homebuyers need to learn by asking questions. A real estate lawyer who has experience and is willing to explain the entire house buying process in detail, and explain it again until you understand it.
- Finding out too late that your "lawyer” represents the bank and not you
This can be a real surprise when a buyer assumes that the lawyer the bank uses will represent the buyer’s interests. Not true. They are representing the bank’s interests only. You need your own personal representation, always.
- Not Understanding What They Signed
It is true of a most first-time buyers. They do not read their agreements and have no inkling of what they have signed. Ask your lawyer to explain all the documents.
- Not Ready For Delays In The Closing Process
Delays in closing due to Sellers' inability to move out; telling your mortgage broker or banker to lock your rate while the Seller is not ready to close. If you are renting, make sure your landlord is flexible with the extension otherwise this delay can cost you a lot.
- Buying A Property In An Unknown Area
Don't just look at the property. Check the surrounding area. See if it's safe, well maintained and moderately quiet? Is it convenient to work, schools and shops? Find out about zoning; Could the highway nearby be widened in the future? If you're not familiar with the area, ask friends, relative, and realtors about it.
Types of Deed Transfers
A deed is the document that transfers ownership of real estate. A deed includes the names of the buyers (grantee) and the name of the sellers (grantor), and provides a legal description of the property. The deed is signed by the person transferring the property and the seller's signature must be notarized. A deed for property must always be in writing, and it must follow state laws. The deed language or forms or even paper sizes may defer by state, so it is important to have an experienced real estate attorney prepare and review the deed to ensure that is properly executed.
There are many types of deeds. The most common form of deed is a warranty deed or sometimes called a grant deed. A warranty deed transfers ownership and explicitly warrants the buyer that the seller has good title to the property. A warranty deed offers the greatest protection for buyers since the seller must promise good title to the property, with no liens and encumbrances not disclosed in the deed. The seller also agrees to defend against any defects found in the deed. The other common form of deed is the quitclaim deed. A quitclaim transfers any ownership interest the seller has in the property, but makes no promises about what that interest is or that title is good. Quitclaim deeds are most commonly used to clear up title problems, to transfer property between spouses after divorce, or in informal transactions between friends and family.
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