One of the first things that anyone or any website states is that a home is the single biggest personal investment that most people will make. When you stop and consider that a single family home or a condo on Long Island had a median asking price of $355,500, you definitely want to make sure you are getting the best deal and not leaving any cash on the table. A real estate attorney on Long Island is there to represent your issues at the bargaining table and get you the best possible price.
Many people think that a realtor is all that is needed to get the best price for a home. Your real estate agent is certainly a part of your buying or selling team, but his or her role is limited in that he or she cannot provide legal advice. They can give you support and information, but when it comes to legal implications it is the sole role of a real estate attorney to provide that information.
What The Real Estate Attorney Can Do
You will work with your real estate agent or realtor to choose which home you want, and to also set the price for the sale or purchase. A real estate attorney on Long Island only gets involved once the price has been negotiated and agreed upon and you have a contract to buy or sell the property.
He or she will carefully review the contract to make sure it is legal and correct. The real estate attorney on Long Island will also make sure that there are no clauses included in the contract that are not in your best interests or that may make the contract unfair to you.
Title Checks
One of the most important things that the real estate attorney on Long Island will do is to check the title for the property and make sure the home or property is free from any liens or encumbrances. If this was not done you may by a property and end up having to pay off a lien against the property generated from a past owner.
Managing the Paperwork
In addition the real estate attorney on Long Island will also check all your mortgage paperwork to verify it is correct and legal. Once everything has been checked and is correct he or she will facilitate the transfer of ownership of the property and also verify that agreed upon repairs are completed before the sale is finalized.
A real estate attorney on Long Island usually charges a flat fee, which is very minimal considering the peace of mind provided. Talk to a specialized real estate attorney before any residential property purchase or sale to make sure you are fully protected.
It is important to discuss any property purchase or sale with a specialized real estate attorney on Long Island.
