New York Real Estate Closings Lawyer
If you’re involved in a real estate transaction in New York, please contact the Law & Mediation Office of Bracha Etengoff immediately. Closing a real estate deal is a complex process, and we have the experience to assist in every step.
A real estate closing involves signing contracts, making payments, and completing other necessary tasks. The buyer and seller could face negative ramifications if anyone makes an error during the deal. It’s critical to seek legal representation so you don’t experience unnecessary delays or challenges that prevent a successful sale.
Buying or selling property is one of the most stressful experiences in a person’s life. Although exciting, it can present a range of obstacles many people don’t know how to overcome. It’s also a big risk, especially if you represent yourself in the deal instead of hiring an attorney. You could lose money due to a simple clerical mistake or entirely miss out on the deal through inexperience.
At the Law & Mediation Office of Bracha Etengoff in New York, you can depend on a dedicated and trusted New York real estate closings lawyer to remain by your side and guide you during every step. We can draft and review the necessary documentation, communicate with the other parties involved, and ensure that your interests remain protected. We will work closely with you during every aspect of the transaction.
Call us at (347) 640-0993 today for your initial consultation and learn more about how we can help you during your real estate closing. We’re available to speak with you by video, at our office, or in a location most convenient for you.
How Your Real Estate Closings Lawyer Can Help
When you hire the Law & Mediation Office of Bracha Etengoff, we will assist you with every aspect of your real estate transaction. We represent both buyers and sellers under various circumstances, including distributing property during probate or trust administration.
Legal Representation for Buyers
As a buyer, you can count on our office to help you navigate the complicated procedure of purchasing a home. We’ll advise you on each step and handle various responsibilities on your behalf, such as:
- Corresponding with the seller’s lawyer, mortgage company, and title company
- Reviewing the real estate contract and negotiating with the other party to meet your interests and needs
- Preparing for the closing, including gathering the necessary title work
- Resolving issues that arise, such as property damage and repairs, before closing
- Explaining the duties and obligations of the buyer based on the contract
- Reviewing the title and mortgage commitment
- Representing the buyer at closing
Legal Representation for Sellers
As a seller, you need an experienced attorney to protect your interests and ensure that the process goes smoothly. We can manage the procedure and advise you about every option available to you until we close the deal. Some of the aspects of the real estate transaction we can handle include:
- Communicating with the buyer’s attorney
- Preparing and reviewing the contract
- Negotiating the necessary terms of the real estate deal
- Resolving disputes regarding inspections, repairs, damage, and other issues the buyer brings up
- Preparing for the closing
- Representing the seller during closing proceedings
You should hire a real estate lawyer before beginning the sale or purchase process in New York. However, if you haven’t yet and are approaching closing, reach out to the Law & Mediation Office of Bracha Etengoff today.
Steps in a Real Estate Closing
Closing typically occurs within 60 to 90 days after signing the contract of sale. Every party involved in the sale should know about each step, including the buyer, seller, lender, attorney, and real estate agent.
A real estate closing often involves these steps:
- Escrow – Many closings don’t happen immediately. They could take some time, and paying a deposit is often necessary. This secures the buyer’s commitment to purchasing the real estate and gives the seller peace of mind.
- Inspections – Inspections can be vital to proceeding with a real estate deal. Sometimes, the transaction hinges on the results of the inspections and whether they uncover insect infestations, mold, property damage, and other problems.
- Certifications and documents – State law might also require a homeowner to obtain a certification related to buried oil tanks, well testing, or flood search. A certificate of occupancy might also be another requirement.
- Title search – A search of the seller’s title verifies that it is free and clear. The search will also verify that no unpaid bills, liens, tax liabilities, and similar circumstances exist. Sometimes, lenders require buyers to obtain title insurance.
- Mortgage application – The process should start before the closing steps if a buyer needs to apply for a mortgage. Approval could take some time, so the sooner the mortgage application process begins, the better.
- Insurance policies – Lenders often require hazard insurance to protect their interests. The buyer might also benefit from protecting themselves by applying for a homeowner’s insurance policy.
- Final walkthrough – Another inspection and final walkthrough should happen the day before or on the day of signing the closing documents.
- Finalizing the deal – If the final walkthrough doesn’t uncover any issues, the parties can proceed with signing all necessary documents.
Closing a real estate transaction is a time-consuming and exhausting undertaking. Hiring the Law & Mediation Office of Bracha Etengoff to represent you could lead to a more favorable and less stressful transaction.
Selling Inherited Real Estate
Real estate is one of the most common assets people own. Many homeowners include their properties in their wills and designate beneficiaries to leave them to when they die. Pursuing a real estate closing after a loved one’s death can be overwhelming. You’re coping with grief while trying to settle the estate.
The Law & Mediation Office of Bracha Etengoff represents trustees, executors, and administrators in estate administration. We will guide you through the closing process involving the inherited property. We will review every aspect of the sale and assist in determining the necessary taxes you must pay, transferring the title, and other requirements.
Whether you’re buying or selling real estate in New York, you should enlist the help of the Law & Mediation Office of Bracha Etengoff. Our New York real estate closings lawyer can help you with transactions ranging from a simple residential deal to a complicated probate administration.
Call (347) 640-0993 for your confidential consultation, and let us represent you in your real estate closing. We can meet by video, in our Manhattan or Long Island office, or in your home or office.