In this article, you will learn:
- Some tips to help you prepare for a real estate transaction in New York.
- The differences between a real estate agent and real estate attorney.
- Some basics mechanics of a real estate transaction.
Do I Need A Real Estate Agent?
Perhaps the most important thing to do with a real estate attorney before purchasing or selling real estate is to share your deed with them. This assumes you are a homeowner looking to sell an existing house and buy a new one. Knowing who legally owns the house will make your real estate case go so much smoother further down the road.
So many couples assume that since they bought the house together, it belongs to both. Unfortunately, this is not as simple as we would like it to be, and, as a result, it greatly depends. When was the house purchased? Before or after you were married? Do you own it with someone else? Did you inherit it from your parents? These things will greatly influence your real estate case and are incredibly important to know.
Due to how real estate law in New York is designed, a real estate attorney will need to see how exactly the title is held. If you are selling your house, disclosing as much information related to this as possible, as early as possible, will help you and your agent tremendously. There are many more surprises in the real estate world than you may think.
Do I Need A Real Estate Agent And A Real Estate Attorney To Buy Or Sell Property In New York?
Technically, you do not need either a real estate agent or a real estate attorney in New York. If you are able, you can handle your real estate case entirely on your own.
A real estate agent lists your house for sale or searches for available houses for you to purchase. They match buyers and sellers with an individual on the other side of the transaction. They also negotiate prices and other details of the sale. Once the transaction is complete, they take a commission and are done with the transaction – they cannot walk into a closing and represent you.
Real estate attorneys can and do – it is their job to. Attorneys approach deals already agreed to after negotiation and guide both parties through the process of formally and legally agreeing to a deal.
Simply put, real estate agents do their work before the contract. In contrast, real estate attorneys handle everything after the contract, from investigation to closing. The two often work together but are distinct and have different responsibilities.
With the guidance of a skilled attorney for Real Estate Cases, you can have the peace of mind that comes with knowing that we’ll make it look easy. For more information on Real Estate Law in New York, an initial consultation is your next best step. Get the information and legal answers you are seeking by calling (914) 350-3842 today.