Do I need a lawyer for my NY real estate purchase?

A lawyer is not a necessity when purchasing a home. However, there is no reason to avoid obtaining professional help. Home prices rose 6.8 percent in 2018. The state continues to be a popular choice for buyers despite a small population decline. The law office of David J. Aronstam help prepare documents, complete contracts, and obtain the assurances helping you find your dream home.

What do real estate attorneys do?

Real estate attorney help clients obtain property without a significant burden. We help clients obtain the most value from your home at the lowest cost even while charging a fee.

We look over lending documents, assure that permits are obtained, review claims and title to help avoid conflicting claimants and close loopholes in your closing contract. This grants peace of mind and can help avoid hidden costs.

How can I protect myself in a real estate contract?

The average home in the United States is over 31 years old. This increases significantly in places such as Buffalo and New York city where famous brownstones were built over one hundred years ago.

Old homes come with significant problems. Unclean vents and ducts may create a toxic environment. Lawn, interior, and structural issues left unchecked worsen with time. A home inspection provides a deep understanding of these issues while a lawyer can create a conditional contract giving you the right to purchase a home.

Breaking a contract carries legal ramifications. The entire economy revolves around the ability to uphold promises and honor contracts. As a four corners state, any terms left out of a document are not considered to be part of the agreement.

Can a lawyer help me if I am selling a home?

Lawyers help buyers and sellers alike. We specialize in real estate law and help everyone equally.

Sellers face an equally monumental task. They need to transfer title and other elements of ownership to their prospective buyer and assure that the price is paid.

The contract is important for both parties. Sellers want to ensure that the condition of the property on sale is clear and avoid paying for loopholes and mistakes in the future. Fraud is a serious concern.

Sellers may also need to rectify issues in their property or meet the demands of the buyer. Lawyers place precise terms in the contract to avoid overburdening the seller.

Lawyers provide peace of mind to all parties involved. In the case that a contract is breached, or the price is left unpaid, we represent our clients in court.

Financing a home

One of the more unknown features that a lawyer helps with is obtaining a mortgage or funding for a home. The average down payment on a home in the state of New York is ten percent.

Unlike in the past, lenders want to assure that the people they loan to can pay back what they owe. Banks and other institutions require extensive documentation and proof of income before they are willing to hand out hundreds of thousands of dollars. A credit score is simply not enough.

We help clients prepare documentation and avoid giving away too much information. Your privacy is critical and can affect future decisions.

Home ownership is not a light matter.  A lawyer helps in every step of the purchasing process. Get in touch with an expert NYC real estate lawyer to help you close a successful real estate transaction.

David J. Aronstam, Esq.
Attorney at Law
85 Broad Street 28th floor
New York, NY 10004
(646) 759-0400
dja@aronstamlaw.com


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