What is a Real Estate Lawyer?
It’s likely that you have worked hard to purchase a New York City home. After all, this could be one of the largest investments of your lifetime. Therefore, it is essential that all aspects are taken care of during this process.
Real Estate Law in New York
Real Estate Law is the body of laws that regulates the sale and purchase of real estate, such as land and any structures built thereon. It also encompasses business transactions like leases or loans. Real estate attorneys may be involved in deeds & property taxation, estate planning, zoning issues and titles too.
A real estate lawyer’s role is to guarantee proper procedures when a property is bought or sold. Since laws regarding real estate vary between states, the licensee must be certified.
What Do New York City Real Estate Lawyers Do?
Real estate attorneys specialize in this area of law and can handle both residential and commercial transactions.
New York allows property purchase without the help of an attorney, though most transactions in New York City require at least two experienced realty attorneys – one to represent the buyer and one to represent the seller. A real estate lawyer reviews and prepares all necessary documents necessary for closing on a property and ensures everyone’s interests are safeguarded at the closing. Even though New York doesn’t mandate it, having an experienced estate lawyer present during closing can be beneficial; even though they are not required by law.
Responsibilities as a Real Estate Attorney
Real estate attorneys perform due diligence (review of board minutes, offering plans, and building finances), prepare and review documents such as purchase agreements or mortgage/title documents, along with reviewing other pertinent paperwork. Once hired, they will manage the transaction and assist with closing with the buyer. Their services ensure that funds transferred are legally binding and in their client’s best interests.
Real estate attorneys provide their clients with document preparation, title searches and insurance, lien search, Eagle-9 Insurance for cooperatives, and reviewing title searches during the property purchase. In addition, they handle escrow and funds transfer services as well. Your attorney can even collaborate with your lender in order to facilitate financing through various sources.
Why Hire a Real Estate Lawyer?
Real estate law can be a complex field that encompasses various areas. New York residential and commercial transactions often have numerous moving parts. A qualified real estate attorney can help you manage the complexities of real-estate law.
Sishodia PLLC’s team of real-estate lawyers is available to assist you. With years of expertise in New York real estate law, our attorneys will provide personalized legal solutions tailored to meet both your needs and best interests.