|
Whether
you're buying your first apartment
in New York or upgrading to
the brownstone of your dreams,
we'll walk you through the purchase,
letting you know what you need
to do each step of the way.
You won't have to worry about
the details because we'll stay
on top of your transaction and
keep you informed throughout
the course of the deal. We can
also offer advice on specific
situations unique to your deal,
like purchasing an adjoining
apartment or getting approval
for a pet.
Due
Diligence
Once you've had an offer accepted,
we'll do the research to make
sure you know everything you
should about a property before
you buy. For co-ops and condominiums,
we'll research the building's
finances, including the offering
plan, bylaws, annual financial
statements and minutes of board
meetings. Then we'll prepare
a written report and review
our findings with you, so you
know what financial shape the
building is in — and any
red flags that may affect your
decision to buy. For purchases
of houses or buildings, we'll
also help you find an inspector
and review the inspection report
with you.
Contract
negotiation
Simultaneously, we'll work with
the real estate brokers and
other attorneys involved in
the deal to negotiate a contract,
representing your interest on
issues like when the closing
will take place and when you
can move in. Once we've reviewed
the building's financials with
you, we'll explain the terms
of the contract and present
you with a copy for your signature.
Our goal is to make sure your
contract is turned around quickly,
so you don't lose out on a great
apartment or a low mortgage
rate because of a snag in the
details.
Mortgage
application
We'll provide your mortgage
broker with some of the documents
required to obtain your loan
commitment letter quickly, then
we’ll review the letter
with you, advising you on how
to satisfy the conditions it
outlines. We’ll also make
sure the lien search or title
report is ordered and that any
documents the bank attorney
needs to submit are filed.
Board application
If you're buying a co-op or
condominium, we'll provide your
real estate broker with some
of the necessary documents so
he or she can prepare your application
for review by the building's
board of directors or managers
soon after the loan commitment
letter is issued.
The closing
After working with all the parties
involved to schedule a closing
date, we'll make sure any outstanding
requirements are met in advance,
like your loan has been approved
and the bank's closing conditions
have been satisfied. If you
can't attend the closing, we'll
prepare powers of attorney for
you to sign and have notarized
so one of us (or someone you
designate) can sign documents
at the closing on your behalf.
In any case, we'll be present
at the closing, prepared to
address any last-minute issues
that might arise.
Closing
statement
Finally, we'll prepare a closing
statement for you, outlining
what was paid to whom, a summary
of your loan transaction and
copies of all the pertinent
documents related to the deal.
To
learn more about our other services,
click one of the following headings:
|
