Purchasing / Selling a house in New York
Purchasing a home in New York City is definitely a unique experience for the first-time home buyer. A lot depends on the real estate market, the market has definitely shifted to buyers market shifting the benefits to the buyers and making it harder for the sellers to demand strict contract provisions and giving buyers more bargaining power.
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Robert Aronov, Esq. will personally review, edit and incorporate the Contract of Sale and the Rider to make sure it fits the client's needs.
Many attorneys do not take the time to negotiate Contract of Sale provisions and simply use a standard Contract of Sale form placing the client at an automatic disadvantage over someone who is really reading and editing all Contract of Sale and Rider provisions.
As we always stress an engineering inspection is one of the most important first steps a typical buyer should take after the offer is accepted..
Second step is Contract signing upon careful review by an experienced attorney, this is a key step because it sets all the rules of the transaction and may shift more advantage to the other side.
Obtaining Financing and appraisal is the third step for most buyers, followed by the title exam, survey of the premises.
The final step is the closing, once the bank is ready to close and the title objections have been resolved an inspection is scheduled prior to closing. The last stage is the exchange of funds and signing of all bank documents.
Robert Aronov & Associates, PC will guide you throughout the entire transaction.
Sellers also need an attorney at the very early stage of the transaction, preferably before singing any broker agreements.
A detailed interview with an experienced real estate attorney prior to even drafting of the Contract of Sale is necessary to make sure the deal is structured properly and there are no surprises along the way.
In the event the Seller is aware of any NYC Code violations, illegal tenancies, liens, judgments, illegal construction, CO issues such should be disclosed to the attorney immediately prior to drafting of the Contract of Sale to avoid delays and cancellations.