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Does New York require a real estate attorney when closing on a house?

On Behalf of | Nov 9, 2023 | Real Estate

Buying or selling a home in New York is a serious undertaking. When it comes to the nitty-gritty of closing a real estate deal, there should be a non-negotiable participant at the table: an attorney. It’s not just about having a savvy negotiator by your side or someone to double-check the paperwork. In New York, an attorney’s presence is as essential as a subway map on your first day in the city. While it’s not required that you have an attorney by your side at the closing table, it’s a very good idea.

Think of a real estate attorney in New York as part tour guide, part advisor. They don’t just dot the i’s and cross the t’s. They’re the ones who make sure the entire contract isn’t a house of cards waiting to collapse the moment you step through your new front door.

A deeper dive into the role of an attorney

Your attorney’s job starts long before the closing table is ever set. They’re likely going to be involved from the initial offer, better ensuring that the purchase agreement is fair and protects your interests, whether you’re the buyer or the seller. In New York’s competitive market, a good attorney can be like having a secret weapon. Those who are skilled know when to push, when to pull back and how to secure the best deals.

And it’s not just about getting to the closing. They’re with you every step of the way, checking the property’s title, untangling any discrepancies and making sure there’s nothing that could disrupt your ownership down the line.

Closing the deal with confidence

On closing day, your attorney is not just there to pass you the pen. They’ll be checking the closing statement, verifying that the funds transfer as promised and ensuring that every financial detail is as it should be. After the handshakes and congratulations, your attorney still has work to do. They’ll see to it that your deed is recorded properly, leaving no question as to who holds the title to your new home.

A real estate attorney is your best defense against the unforeseen. With one at your side, you’re not just buying or selling a piece of property. You’re investing in peace of mind—and in New York, that can be worth its weight in gold.