A New York real estate lawyer specializes in different issues relating to a property, such as buying and selling homes, management, ownership, title issues, disputes, and others. When taking part in a transaction, the lawyer also ensures that the client understands everything outlined in that agreement well and that the papers are drafted correctly. Real estate lawyers have plenty of responsibilities, which is why it is so essential to hire a New York real estate lawyer with plenty of experience in the field.
Typically, real estate lawyers offer a wide range of services. These include:
- They accurately identify unpaid loans, litigation issues, or different claims against the respective property. The lawyer will ensure the outstanding debts are adequately cleared before closing the deal.
- Setting up everything needed for the title insurance- title insurance is quite an essential policy for homebuyers which helps ensure there will be no unexpected issues regarding the property’s ownership after the transaction’s completion. If you have any questions or concerns about title insurance, you should ask your lawyer, who will explain everything in detail.
- Taking an essential part in the negotiation process
- Reviewing the real estate contract
- Preparing all documentation needed for the disclosures, mortgage, or deed
- Explaining all the essential terms and conditions of a contract to the client they represent
- Performing in-depth research for any outstanding obligations such as different unpaid taxes, homeowner association fees, utility bills, and so on
- The real estate lawyer will also prepare the settlement statement, which shows the funds that are coming from the buyer and different charges to all the parties involved in the sale
- here, they will include attorney fees, agent commissions, underwriting fees, taxes, loan discount points, title search fees, and other such fees and charges)
- The lawyer will ultimately confirm that the parties involved in the transaction fulfilled all their obligations as stated within the contract
- The lawyer will also assist with conflict resolution if needed