How Can a Real Estate Lawyer Help When Buying a Home?
If you are thinking about buying a home, you may want to consult with a real estate lawyer New York, NY respects. Buying property might be a more complex process than you realize, and an experienced real estate lawyer can prevent you from making costly mistakes. At Okun, Oddo & Babat, P.C., our lawyers have extensive knowledge of real estate law and have simplified the home buying process for many clients. Our firm also has over 100 years of combined experience in civil litigation. We have earned a solid reputation for integrity and getting positive results on behalf of our clients.
The Benefits of Hiring a Real Estate Lawyer New York, NY Trusts
It is important to keep in mind that real estate brokers and agents are not lawyers. While you are not required to hire a real estate lawyer in New York, NY when buying a home, you may find it beneficial to do so. Even for what may seem to be a simple transaction, there can be unanticipated issues that can cause legal headaches concerning the property. Having a lawyer to represent you can help avoid those legal hassles and protect your rights.
A real estate lawyer New York, NY clients call can also assist in property purchases that involve short sales. Because of the time constraints a financially strapped seller may face, potential buyers of short sale properties are often pressured to overlook important legal issues. Your real estate lawyer will make sure that your best interests are protected in these situations.
Here are a few additional benefits of hiring a real estate lawyer:
- Legal Knowledge: There are many legalities involved with the purchase of a home, so it’s critical to work with an experienced real estate lawyer New York, NY trusts. At At Okun, Oddo & Babat, P.C., our lawyers have helped many clients buy homes and are thoroughly familiar with the entire process. A lawyer will know what paperwork is required and can help you complete it correctly. Real estate transactions are document heavy and mistakes can cost you not just extra time for processing, but financially as well.
- Perform a Title Search: A real estate lawyer New York, NY counts on can perform a title search on your behalf. This is an absolute necessity before the sale can conclude. If not done, or done incorrectly, your purchase will likely fall through as it will not meet legal requirements.
- Assist with Closing: A real estate lawyer New York, NY homebuyers call understands that closing on a home can be overwhelming, especially if it is your first time buying a house. There is a plethora of closing documents to review and you want to make sure everything is correct. A real estate lawyer may look over all these documents and make sure there are no errors. If errors are found, your lawyer can help you make the appropriate modifications in a timely manner.
Questions to Ask a Real Estate Lawyer
When you need the services of an attorney, it is important to understand what they can and cannot do for you. Just like medicine, there are many areas of law and hiring a lawyer who specializes in real estate will more beneficial to you because of their legal experience.
There are many rules and regulations in real estate law which are continually evolving. A skilled real estate lawyer New York, NY provides knows that he or she must stay on top of new regulations and changes in the law in order to best serve their client. A lawyer who specializes in a different area of law, for instance family law, may be a very skilled family lawyer, but not equipped to handle real estate cases.
When you meet with a real estate lawyer whose services you might retain to represent you in a real estate transaction, there are some questions you should consider asking before you decide to retain them.
- For how long have they practiced real estate law? The more experience in this area that they have, the better. This is particularly true for real estate transactions such as a development plan, which may be more complicated than a single-family home purchase.
- Did the attorney graduate from an accredited law school? Some schools are better than others, and non-accredited schools carry very little weight.
- Has he or she represented any other clients with real estate cases similar to yours? This is especially important if your legal issue involves a complex real estate deal. Ask the lawyer how they would handle the legal complexities of your case.
It is also important to find out who the other members of the law firm will be who are expected to work on your case and to have the lawyer introduce you to them. This can give you a sense of whether or not they’re a good fit for you.
How Much Does a New York Real Estate Lawyer Charge?
A New York real estate lawyer’s fees may depend on several different factors, such as how involved you want him or her to be in the real estate transaction process. It can also depend on whether or not any complications arise. Some lawyers charge a flat fee while others bill by the hour.
During your initial consultation with a real estate lawyer New York, NY depends on, be sure to ask them about their fees. Be upfront about how much you can afford to pay.
Get Help from a Real Estate Attorney in New York, NY to Terminate Your Lease
For some, owning a home isn’t an option. It could be due to the difficulty of obtaining a loan, or perhaps an individual may want a more temporary option. Regardless of the reason, many choose to rent a home rather than buy. It is not uncommon for a lease to require a 12-month commitment prior to moving in. Unfortunately, circumstances can arise where a tenant may wish to terminate their lease early, like if they want to purchase their own home. However, many tenants in this situation may wonder if it is even possible given the contract they signed with the landlord. When this is the case, you should contact a New York, NY real estate lawyer with your questions
A lease may be terminated early provided certain conditions are met. For example, if the condition of the property is uninhabitable, you may have a valid reason to exit the lease. Although, laws may vary depending on the state and the contract. You may be required to request, in writing, a list of repairs necessary to make the property liveable. If the landlord refuses or fails to complete the appropriate repairs, you may be eligible to vacate 30 days after the notice.
If the condition of the apartment is not the issue, you may still be able to negotiate a deal with the landlord. Consider requesting a meeting with your landlord. Attempt to come to an arrangement you can both agree to. It can be lawful to alter the contract, provided both parties agree to the changes.
If neither of the above are an option and you must vacate the property, remove all of your belongings and leave the property in clean and orderly condition. The property should be in a condition prepared for another tenant to move in. If the property is left in the proper condition, you will no longer legally be considered to have possession of the property, and therefore, you may not be sued for unlawful detainer. The landlord is required by law to make reasonable effort to obtain a new tenant to recoup any rent loss associated with the exit.
Contact a Real Estate Lawyer New York, NY Homeowners Trust
At Okun, Oddo & Babat, P.C., we understand that getting out of a lease or the home buying process can be stressful and unexpected issues may arise. Explain your situation in detail with your attorney and provide any appropriate evidence that may help your case. The attorney may be able to provide input on what your legal options are. A New York, NY Real estate attorney is familiar with negotiations and may be able to help you and your landlord come to an agreement regarding alterations to the lease.
Our skilled and dedicated lawyers are here to guide you through the process and address all of your questions and concerns. With a trusted real estate lawyer in New York, NY on your side, you may feel less stressed during the transaction. Buying a new home can be a very exciting time, and we look forward to helping our clients feel comfortable and confident with their new purchase.
If you are looking for a real estate lawyer New York, NY offers, contact Okun, Oddo & Babat, P.C. at 212-642-0950.