Real Estate

Legal Guidance for Property Transactions in Queens

Real estate transactions are often expensive and complex. The parties have many decisions to make, and these decisions can have serious legal consequences. Our real estate practice involves the representation of buyers and sellers in residential and commercial real estate transactions, as well as foreclosure prevention strategies. Queens real estate lawyer Shane D. Scott understands the nuances of property transactions and can develop strategies to protect your interests.

Representing Buyers and Sellers

Buyers and sellers benefit from legal representation when they are involved in the sale of property. In New York, buyers are not immediately in contract with sellers when they make an offer on property that is accepted. Instead, a formal contract must be negotiated, drafted, and signed before they are in contract and legally bound to close the purchase. Contingencies may need to be built into the contract so that the sale does not move forward in certain situations.

Both the buyer and the seller must exercise due diligence and take certain steps before the closing. The buyer will need to have an inspection, survey, and title search conducted. An environmental site assessment may need to be ordered. When the property at issue is a cooperative or condo, the buyer may need to review the building’s records.

Meanwhile, a seller of residential property will need to make certain disclosures about known defects through a standardized disclosure statement or pay a credit to the buyer at the closing. The contract may require the seller to make repairs or cure violations. If title defects are found, the seller will need to resolve them. A real estate attorney in Queens can guide a seller through this process.

At the closing, the buyer and the seller will need to sign numerous documents. Taxes and fees will need to be adjusted. The seller will need to pay his mortgage and title bill and deliver keys and possession of the premises.

Consult an Experienced Real Estate Attorney

When representing real estate clients, Shane D. Scott offers multidimensional insights from his prior experience in different roles: an attorney at one of the top three title insurance companies, a real estate broker, and a commercial property owner and manager. Call us at (800) 230-0744 or complete our online form to discuss a property transaction with a real estate lawyer in Queens.