When you are purchasing real estate, you are making one of the most significant investments you will make any time in your life. Lending agreements, purchase and sale documents as well as titles must all be reviewed at the time of closing to ensure the transaction meets all legal requirements. Additionally, you need someone who has experience handling New York real estate transactions so that all the legal documents are properly filed once they are signed.
Protecting Your Rights and Interests
Real estate purchases can be very complicated, particularly in the New York market where there are various types of ownership. Joyce Brown, Esq. has handled a wide range of real estate closings including single family homes, condominiums and cooperatives. You can feel confident knowing all documents will be carefully reviewed to ensure your interests are being protected.
Titles and Other Documents
One of the most significant challenges buyers face is getting a clean title to the property. Obtaining a title does not mean there are not unsatisfied liens including mechanics liens which must be resolved prior to closing. In order to successfully transfer title, we can take care of a whole range of title defects and obtain the required title insurance.
Document Filing After Closing
Once all of the documents involved in transfer of property have been prepared, they are typically reviewed by the buyer’s attorney, seller’s attorney and the attorney for the bank. If the purchase is for a cooperative, there are also other people who may need to review the documents. In general, a typical closing in New York can take upwards of two hours and involves review of final documents, transferring funds and signing of all documents. Once the closing is complete, the buyer has full rights to the property. However, the role of a real estate attorney does not end at closing. After closing, certain documents must be filed including the new title and new mortgage. Additionally, certain fees including real estate taxes must be disbursed from the proceeds of the sale.
Buying property is a major life event; you need to work with an attorney who will protect your interests throughout the process and ensure that the final documents are prepared and filed in a timely manner. Contact Joyce Brown, Esq. at 914-668-8984 for all your New York real estate closing needs. You will find an attorney with the skills, know-how and ability necessary to ensure your transaction is done professionally and in a timely manner.