New
York Real Estate Closing
Attorney
Have you considered purchasing
or selling a New York co-op
or condo? Some may assume
that the transactions are
rather effortless, but in
reality this is not the case.
The complexities that are
involved with real estate
closing transactions can
be very overwhelming and
risky for those who are unsuspecting
as to what they may be getting
themselves into. At the law
firm of Attorney Michael
Gunzburg, we will represent
and make sure that your real
estate closing and transaction
are handled with the utmost
integrity. We represent clients
throughout the entire process
and ensure that the client’s
rights are represented in
an ethical manner.
Do you need
the legal assistance of a
New York Real Estate Closing
Attorney? Contact
our New York Real Estate
Closing Attorney, Michael
Gunzburg, to represent your
legal needs in the purchase
of a New York condo and/or
New York co-op today.
A New York real
estate attorney can assist
you with the following:
- Purchasing a New York
Co-op
- Purchasing a New York
Condominium
- Co-op closing and Condo
Closing
- Closing Cost Preparation
- Assistance with Real
Estate Contracts and Documents
- Title transfer
- Lien reports
- Tax transfer
There is a difference in
New York between purchasing
a condominium apartment and
a co-op apartment. In the
purchase of a condominium,
the delivery of a deed grants
the buyer the right to the
title being transferred.
Condominiums usually involve
the right of first refusal
by the Board of Managers.
While in a co-op, the sale
must be approved by the Building’s
Board of Directors. This
is typically a cumbersome
process, and frequently requires
guidance and hard earned
experience. In the purchase
of a co-op apartment, the
transfer of title is given
to the buyer by the co-op
corporation through ownership
of stock and a proprietary
lease. Once a New York Co-op
is purchased, you own shares
of stock and become a shareholder
within the corporation; as
well as being issued a proprietary
lease allocated to your specific
residence. You do not technically
own property, as you would
with a house or condominium.
In addition, the building
frequently has an underlying
mortgage, the cost of which
is passed onto the buyer
in the form of monthly maintenance
charges. In condominiums,
the only debt you have in
connection with the ownership
of the apartment is the debt
you use to acquire the apartment.
During the process of negotiating
and drafting a contract,
there are many legal issues
that must be taken into account
to make sure that everything
is properly executed. For
example, the review of financial
documents, the preparation
of the deed, brokers contracts,
property inspection reports,
amendment issues, and mortgage
commitments. Any discussion
of repairs must be taken
into account prior to the
actual closing. An experienced
and knowledgeable New York
Real Estate Closing Attorney
will be able to make sure
that your closing goes smoothly
and will ensure that any
legal issues which may arise
pertaining to the transaction
is resolved timely and efficiently.
It is important that the
complexities of the closing
process is conducted in a
proper, effective and ethical
manner in order to protect
all of your financial and
legal rights.
Do you need
the legal assistance of a
New York Real Estate Closing
Attorney? Contact
our New York Real Estate
Closing Attorney, Michael
Gunzburg, to represent your
legal needs in the purchase
of a New York condo and/or
New York co-op today.
Michael Gunzburg is
a New York Real Estate
Closing Attorney serving
the New York Metropolitan
area, including New
York City, Bronx, Brooklyn,
Manhattan, Queens, Staten
Island, Nassau, Suffolk,
Westchester, Rockland and
Orange County.
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