5 Ways an Attorney Will Help You Buy or Sell Your Home

January 20, 2021
Drucker & Mattia PLLC

You’re planning on moving to New York and have already found a house you love. The location is perfect, the showing went well, and the price is right. With so many signs of a positive transaction, do you really need an attorney?

Absolutely. 

Because your new home is in New York, it is a requirement that you obtain one. Legal counsel will be there to represent you at closing and prepare the contract of sale. Buying real estate is one of the largest investments of your life. When comparing the cost of experienced legal representation to the purchase price of your home, you will see that having an attorney is a sound investment. 

Having a real estate attorney is in your best interest. In this blog, we’ll go over five reasons why an attorney is critical when you are buying or selling your home. 

  1. Drafting and Reviewing the Sales Contract

Many real estate agents prepare their own sales agreements using a template, which can’t address all nuances involved with the sale. If more complex terms are involved, such as an agreement to pay for repairs or satisfy liens on the property, both buyer and seller should have an attorney involved in the preparation and review of the contract.

  1. Reviewing the Property Title

Title searches can yield unexpected results. Liens, easements, and restrictive covenants are all encumbrances that frequently show up on property titles. These are legally complex issues that need to be addressed and resolved with help from a New York real estate attorney.

It should be noted that many title companies will ask you to sign a release at the closing, stating that you absolve it from any liability arising from its misconduct or negligence. Your attorney will ensure that you don’t sign away your right to hold them accountable if something goes wrong.

  1. Preparing Financial Documents

If you are the buyer, your attorney will prepare the mortgage documents, which state how much you are borrowing, how and when interest is calculated, and what the repayment terms are. This paperwork consists of legally complex language, so your attorney will make sure that you understand the terms of your mortgage before you sign it.

  1. Representation at Closing

Closing is the moment that both sides await eagerly. The buyer receives their new property and the seller is free to move forward. Attorneys for both sides will help their clients navigate the legal paperwork and ensure that everyone understands the closing documents before signing them.

  1. Assistance With Special Transactions

Some real estate transactions require specialized knowledge to navigate them successfully. For example, if you are buying a condominium in New York City, an attorney will explain the operating documents for the building with you. The need for legal counsel also extends to buying or selling property under special sale conditions, such as an auction, short sale, or estate sale, because unusual and unique terms may apply.

Contact a New York Real Estate Attorney Today

If you are buying or selling property in or around New York City, the experienced real estate attorneys at Drucker & Mattia will provide the guidance you need to make the transaction a successful one. Our clients include first-time buyers and sellers as well as seasoned investors, so you can feel confident that you’re in good hands. For more information or to schedule a consultation, please call 718-458-2312.

The following two tabs change content below.

Drucker & Mattia PLLC

When you’re facing legal issues or pursuing a lawsuit, skilled legal counsel makes a big difference. At Drucker & Mattia, PLLC, we specialize in a wide range of legal areas to meet the needs of a diverse client base.

Latest posts by Drucker & Mattia PLLC (see all)