What should a real estate lawyer be experienced in?

what-should-nyc-real-estate-attorney-be-experienced-in-01What should a real estate lawyer be experienced in? Real estate lawyers help clients prepare documents, obtain proof of income, and negotiate contracts. Your lawyer must understand how to find and close loopholes and promote your interests throughout the entire process. David J. Aronstam has over thirty-five years of experience dealing with real estate in New York and beyond.

What is a real estate attorney?

A real estate attorney is well versed in contract law. Finding loopholes, creating assurances, and enforcing terms make up the bulk of our work.

We also help clients prepare the documentation required to obtain property. Purchasing real estate is complicated. Lenders want proof of income or wealth. In our high demand market, assurances must be made without being superseded by another buyer.

Can a lawyer help me obtain certain assurances in a real estate contract?

top-new-york-real-estate-lawyer-02Contracts should not be one-sided. The average age of a home in the United States exceeds 31 years. Electrical and plumbing components break, and infrastructure degrades over time.

Once you find the perfect location, a home inspection may reveal defects that the seller should fix. However, if the property is highly desirable, this may not always be possible.

A lawyer should be able to draft a conditional contract giving the buyer first rights to a property based on specific assurances. New York allows for conditional agreements.

What goes into a contract?

Promises, assurances, and contracts form the basis of nearly every economy. Contract law started here before the country even existed. Your lawyer must know what goes into a deal and willing to spend the time and effort to promote your interests thoroughly.

Our law offices carry thirty-five years of experience in real estate to every client. We understand that each situation is unique and are ready to thoroughly prepare the documents you need to avoid a future headache.

Unique laws and bylaws in New York City

The big apple is a vibrant community. People from all over the world want to be a part of our city. A hot real estate market led to rising prices.

Both the city government and the people sought to control rent and limit price increases starting in the 1970s. Old and new tenant law governs prices for multi-home dwellings.

Co-op apartments are a practically non-existent form of housing outside the city. A board of directors’ places restrictions on who purchases shares and the rules they need to follow.

Real estate lawyers in the city need to know how to navigate this environment. Contracts bring new dimensions not found in the rest of the state.

Beyond the purchase

nyc-real-estate-law-expert-lawyer-03Matters related to your home purchase extend beyond the final purchase. These issues range from managing defects to obtaining financing.

New York requires sellers to provide a disclosure statement. Any significant defect must be known at the time of sale. Failure to reveal problems is actionable.

Once you decide to purchase a property, there is also the need to secure funding. Lenders want to know that you can pay your mortgage. They want proof of income and assets.

Our team prepares every document and deals with any unforeseen circumstances. Get in touch today for an advocate in the real estate market.

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

Leave a reply