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Commonly Asked Questions about NY Real Estate Legal Forms

Your real estate agent or broker may have recommendations for attorneys to work with, but you are not required to work with a specific lawyer.
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.
Its not just about having a savvy negotiator by your side or someone to double-check the paperwork. In New York, an attorneys presence is as essential as a subway map on your first day in the city. While its not required that you have an attorney by your side at the closing table, its a very good idea.
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.
Form A Brokers Contract Agreement/Listing Form Listing a property for sale is basically an agreement between the listing seller and agent, who is appointed to find a buyer and negotiate an agreement on behalf of the seller. The agent must obtain all the sellers details when listing a property for sale.
The salesperson exam consists of 75 questions. To pass, you must answer correctly at least 70% of the questions. The broker exam consists of 100 questions. To pass, you must answer correctly at least 70% of the questions.
On average, real estate attorney fees for closing in New York will run you between $2,000 to $3,000 per transaction. However, fees depend on the attorney, the deals complexity, and what part of NY the property is. Each attorney has different rates, and there is no set amount that every homeowner must pay.
Requirements Submit a completed application and the required fee to the Department of State. Be 18 years old. Have successfully completed 77 hours of approved qualifying education. Pass the NYS Real Estate Salesperson examination. Be sponsored by a NYS licensed Real Estate Broker.