Recommended New York Real Estate Closing Attorney

Have you considered purchasing or selling a New York co-op or condo? Some may assume that the transactions are rather effortless, but in reality this is not the case. The complexities that are involved with real estate closing transactions can be very overwhelming and risky for those who are unsuspecting as to what they may be getting themselves into. At the law firm of Attorney Michael Gunzburg, we will represent and make sure that your real estate closing and transaction are handled with the utmost integrity. We represent clients throughout the entire process and ensure that the client’s rights are represented in an ethical manner.

Do you need the legal assistance of a New York Real Estate Closing Attorney? Contact our New York Real Estate Closing Attorney, Michael Gunzburg, to represent your legal needs in the purchase of a New York condo and/or New York co-op today.

A New York real estate attorney can assist you with the following:

  • Purchasing a New York Co-op
  • Purchasing a New York Condominium
  • Co-op closing and Condo Closing
  • Closing Cost Preparation
  • Assistance with Real Estate Contracts and Documents
  • Title transfer
  • Lien reports
  • Tax transfer

There is a difference in New York between purchasing a condominium apartment and a co-op apartment. In the purchase of a condominium, the delivery of a deed grants the buyer the right to the title being transferred. Condominiums usually involve the right of first refusal by the Board of Managers. While in a co-op, the sale must be approved by the Building’s Board of Directors. This is typically a cumbersome process, and frequently requires guidance and hard earned experience. In the purchase of a co-op apartment, the transfer of title is given to the buyer by the co-op corporation through ownership of stock and a proprietary lease. Once a New York Co-op is purchased, you own shares of stock and become a shareholder within the corporation; as well as being issued a proprietary lease allocated to your specific residence. You do not technically own property, as you would with a house or condominium. In addition, the building frequently has an underlying mortgage, the cost of which is passed onto the buyer in the form of monthly maintenance charges. In condominiums, the only debt you have in connection with the ownership of the apartment is the debt you use to acquire the apartment.

During the process of negotiating and drafting a contract, there are many legal issues that must be taken into account to make sure that everything is properly executed. For example, the review of financial documents, the preparation of the deed, brokers contracts, property inspection reports, amendment issues, and mortgage commitments. Any discussion of repairs must be taken into account prior to the actual closing. An experienced and knowledgeable New York Real Estate Closing Attorney will be able to make sure that your closing goes smoothly and will ensure that any legal issues which may arise pertaining to the transaction is resolved timely and efficiently. It is important that the complexities of the closing process is conducted in a proper, effective and ethical manner in order to protect all of your financial and legal rights.

Do you need the legal assistance of a New York Real Estate Closing Attorney? Contact our New York Real Estate Closing Attorney, Michael Gunzburg, to represent your legal needs in the purchase of a New York condo and/or New York co-op today.

Michael Gunzburg is a New York Real Estate Closing Attorney serving the New York Metropolitan area, including New York City, Bronx, Brooklyn, Manhattan, Queens, Staten Island, Nassau, Suffolk, Westchester, Rockland and Orange County.

 

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