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When You Need A Real Estate Lawyer

Oftentimes it is difficult to understand when you may or may not need a real estate lawyer, especially in the hectic and crowded Long Island and New York market. Falk and Klebanoff have years of experience working in this field and know the ins and outs of this area. We have the ability to handle a wide range of real estate aspects, including purchases and sales for residential and commercial properties, mortgage closings and contracts, handling the sale of a business, and dealing with landlord and tenant disputes.

So clearly, a real estate lawyer you can trust offers some major upsides and can be a very helpful hand in the home-buying and selling process. From reviewing contracts in a sale to dealing with any unique situations that arise, our law firm can act as a guiding hand and ensure all of the boxes are checked along the way. And we offer help on a wide range of real estate topics. Learn more about the various services that fall under the real estate umbrella.

However, when you actually do need a real estate lawyer is tricky. So here are some guidelines and tips about when you may need a real estate lawyer on Long Island and New York.

Draft of Purchase Contract

When it comes to purchasing contracts, this is typically an area where the real estate agent plays a central role. However, it is not uncommon to turn to a lawyer to review the terms of the purchase contract. On top of that, if you need a more complex contract, then it may be wise to turn to a lawyer. Oftentimes, real estate agents simply use generic templates to speed up the process. But for more complex purchases, it may become more of an issue. And in this case the purchase contract draft may need to be done by a real estate attorney.

So if you do decide to ask for a real estate lawyer to draft up a purchase contract, then you need to make sure you provide a few days for legal review of the contract before it becomes final. This delay will help you avoid problems down the line since everything will be crystal clear.

Importance of a Purchase Contract

A purchase contract is the most important document during the home buying process. And it includes several negotiable issues that need expert clarification. Here are some of the more important issues you will find in a purchase contract.

  • Timing: The timeline for effectively closing on the property may become delayed due to the sale of own home or through other issues perhaps outside your control. One such example is an unexpected lender delay. So having the purchase contract right will ensure a more smooth timeline.
  • Inspection: A home inspection can uncover problems with the house. Which means that a seller and buyer may end up negotiating on who will pay for those repairs. There are instances in which the buyer, if the contract allows it, could withdraw from the contract without penalty, saving loads of money and headaches all because the purchase contract was thorough.
  • Title: Before the purchase, a title search is routine. This might turn up a lien on the property you are selling or buying. When this happens, you may want a lawyer to investigate. Turning to a lawyer may help ensure the title insurance on the new home adequately protects you from any potential issues in the future.

Closing on a Home Sale or Purchase

So, it is the moment. You are closing on a home sale or purchase. However, this often involves dozens of pages of legal documents to review. And this is where we come in! Our real estate lawyers can help both the buyer and seller with this review process. It can be intimidating to have to sift through all these documents, especially if you do not know all the details. And when we are done, we will go over the parameters of the documents to make sure you are up to speed.

Other Real Estate Lawyer Scenarios

The drafting and reviewing of a purchase contract and reviewing the documents during closing are the two most common reasons why someone may need a real estate lawyer on Long Island and in New York state. However, there are other reasons, too, where you seek the advice of a real estate attorney. Here are some of those reasons.

  • The home you are buying is part of a special type of sale, like an estate sale, short sale, auction, or you are purchasing it from a bank.
  • The home you're selling is a central part of your divorce settlement.
  • You are buying or selling property that has major issues, like structural damage in need of repair.
  • You're buying a home in another state.
  • You have major financial issues and need to sell a property that has liens on it.
  • You are in charge of an estate and selling a home that was previously owned by a family member.

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