Residential Real Estate Attorneys in Tonawanda, New York
Buying and selling residential real estate in New York can be complex and confusing, especially if you’re new to the market. Requirements can vary county by county, and the paperwork can be overwhelming. If you overlook a detail, something might come back to haunt you later on. Closing dates may have to be pushed back to make up for an earlier misstep, frustrating both buyer and seller.
In addition, you will have to work with a diverse group of professionals to close the transaction. If you’re the seller, you will no doubt have to obtain the services of a realtor, attorney, surveyor, and title insurance company retained by your attorney. If you’re a buyer, you will likely have to rely on a lender, loan broker, realtor, home inspector, attorney, and insurance agent.
The glue that can hold your team together and make sure no details are overlooked is your real estate attorney. If you’re looking to buy or sell in or around Tonawanda, New York, or nearby in Amherst or Wheatfield, or anywhere in Erie or Niagara counties, contact The Law Office of Corey J. Rossi, PLLC. Our attorneys have a great breadth of experience as real estate brokers and understand the buying and selling process from beginning to end. We can assist you in every stage of the process, from compiling and reviewing documentation to representing you at closing.
Real Estate Transactions in New York
Owning real estate is generally the largest investment anyone makes, and it can be a stressful time whether you’re buying or selling. You want to make sure that you get the best deal you can and that your rights and interests are well represented. That’s why having an attorney involved from beginning to end can provide peace of mind and protection against any potential problems or obstacles that may arise.
Generally, you will be represented by a realtor as either buyer or seller, and the realtor will write up the contract between buyer and seller. Here is where it is absolutely essential to have an attorney review the document. Even though the contracts are generally standard documents prepared and approved by local realty and bar associations, the devil is in the details. There may be contingencies requested by either buyer or seller, or by both, and these need to be reviewed and approved by a real estate lawyer so that neither seller nor buyer gets shortchanged somewhere in the process. For instance, a buyer may want to include a provision that they get their deposit back if for some reason they fail to obtain adequate financing.
If you’re the buyer, you want to make sure the seller indeed owns the property, so a title search is essential and mandatory. A title company often performs this search of public records to ensure that there are no liens or encumbrances on the seller’s title to the property that would prevent them from selling. In short, you want to make sure their title is “free and clear.” Lenders won’t lend unless there is a clear title.
Property Boundary Issues
You also want to make sure that there are no easements or adverse possessions on the property. Easements refer to the right of another person or entity to use your land. Public utilities and telephone companies often have easements, but sometimes a neighbor may have erected a fence that encroaches on your property.
If that fence has been in place long enough, the neighbor may claim ownership of that part of your property through the law of adverse possession. As the buyer, you may want to get the property’s boundaries confirmed by a search of county records or by the findings of a surveyor.
The real estate attorneys at The Law Office of Corey J. Rossi, PLLC will review the title search to protect your interests as a buyer and will help resolve any boundary issues you have as well.
A home inspection should also be part of any purchase. If a home inspection turns up any defects or issues that need correcting, there should be a provision in the purchase agreement that the owner make repairs as necessary. We can help negotiate that for you.
When it comes down to the wire and closing time is approaching, our attorneys will review all documents, including the deed, affidavits, mortgage, and escrow documents, to make sure everything is in order and that your rights, as seller or buyer, are being fully protected. We will closely monitor closing costs so that unanticipated expenses don’t suddenly show up.
Residential Real Estate Attorneys Serving Tonawanda, New York
Whether you’re buyer or seller, we’ll be with you every step of the way to protect your interests and make sure everything is in order before you close the deal. The Law Office of Corey J. Rossi, PLLC has been dedicated to guiding people throughout Western New York through their real estate transactions since 2009. Set up a consultation with us to start moving forward with your transaction.