Legal Documentation for Property Sales

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Commonly Asked Questions about Legal Documentation for Property Sales

Can you sell a house in NY without a lawyer?

If you are selling a home in New York state, you will need to hire not only a real estate agent to market and negotiate offers on the property, but also an attorney to prepare the contract of sale and to represent you at the closing.

Does a seller need an attorney at closing in NY?

If you are buying or selling a home in the state of New York, it is required that you work with an attorney to process all contracts and represent you at the closing.

Who pays attorney fees at closing NY?

Both the buyer and the seller of a home will pay closing costs when making a deal. Both parties are responsible for paying their own attorney fees (usually real estate and/or bank attorneys), but the rest of the costs are generally split up between the parties.

What are the three most important documents in any sale of property?

Youll need a variety of documents in order to sell your home. Some of the most important include your mortgage loan documentation, mandatory disclosures and the deed.

What documents provided by the seller describes the condition of the property?

The (TDS) describes the condition of a property and, in the case of a sale, must be given to a prospective buyer as soon as practicable and before transfer of title.

Do I need an attorney to buy a house in NY?

New York state law does not require legal representation to complete a real estate transaction. However, the custom in New York City is for both the buyer and seller in a real estate transaction to have legal counsel present for each critical stage of their deal.

Is New York an attorney closing state?

In New York, having an attorney present at the closing of a real estate transaction is not just highly recommendedits a legal requirement. This mandate exists to manage the complexities of property sales and safeguard the interests of everyone involved.