Buying or selling real estate will likely represent the largest financial matter you will ever face. Whether it is your first transaction or your fifth, the process can quickly become stressful and overwhelming. In these situations, it is wise to seek the guidance of an experienced legal professional who can provide answers and insight from start to finish.
While it is not a legal requirement to have an attorney when buying or selling real estate, it has become an accepted practice in most New York transactions. During the real estate transaction, a lawyer can ensure the process runs smoothly while protecting the best interests of their clients in many ways, including:
- Draft and review all paperwork: From the purchase or sales agreement to drafting addendums highlighting work the seller must complete, the attorney can ensure everything is clear and finalized prior to the closing.
- Title searches: A lawyer has access to numerous databases and search methods that can uncover conflicts in ownership or boundary disputes. The real estate lawyer will thoroughly investigate the title and work to resolve any issues highlighted in the analysis.
- Quiet title actions: It is not uncommon for the property’s title to contain conflicts and inconsistencies. If any issue is uncovered during the title search, the attorney can begin an action to quiet the title. That is, to resolve any disputes and clear the title for the buyer.
New York real estate transactions can quickly become complex. Both buyers and sellers often find themselves mired in paperwork and facing numerous pitfalls. An experienced real estate lawyer can provide clear answers and guidance uniquely tailored to your transaction.