Real Estate
Helping you gain, use, and sell real property
When dealing with matters of real estate, your first step can significantly affect how easy or difficult acquiring, using, and selling a property or an asset can be. That is why you must turn to reputable partners at the get-go.
Our lawyers can be these partners. They can help you transfer ownership and facilitate activities within the given property, as well as challenge restrictions. They can also assist you in the other aspects of real estate law, such as deeds, titles, zoning, as well as real estate taxes.
If you intend to buy or sell a home or property in New York City or the surrounding areas in the near future, you should consult with an experienced New York residential real estate lawyer. Similarly, if you are considering an international sale or purchase, we can help. Hiring a the real estate attorneys at Volfman Law Group, PC can protect your rights, make the process easier by ensuring that all contracts and documents meet legal requirements, and identify any potential problems with the agreement to avoid future legal complications.
Frequently Asked Questions
Do I need an attorney when purchasing a home?
While an attorney is not required in some states to complete a real estate transaction, it is widely recommended that a buyer be represented by an attorney when purchasing real estate.
What is a lien?
A lien is a legal claim on real estate that serves as security for the payment of a debt or other obligation. If the debt is not repaid as agreed, the lender or lien holder may foreclose on the property and force a public sale to satisfy the debt.
What is a home inspection?
A home inspection is when a paid professional inspector inspects the home, often a contractor or an engineer, looking for defects or other problems that may plague the owner later on. They are usually paid by the buyer or represent the buyer. The inspection is usually performed after the buyer and seller have signed a purchase contract.
What is the purpose of a title report?
As much as you want to believe that the home you’ve found is perfect, a clear title report ensures that there are no liens placed against the previous owners or any documents that will limit your use of the property.
A preliminary title report allows you to review any impediments that would prevent clear title from passing to you.
What is an abstract of title?
An abstract of title is a summary of a piece of real estate’s legal history. It is used by title insurance companies as the basis for issuing title insurance and by title examiners as the basis for their ownership conclusions. An abstractor prepares the abstract by reviewing all of the records on file with the county clerk’s office or a similar government land title office that pertain to that specific piece of property.
A brief summary of each transaction is created by the abstractor and is organized chronologically. It includes information about the parties involved, the instruments involved (such as deeds and mortgages), the grantors and grantees, the dates the instruments were signed and filed, and, when necessary, a summary of their contents. The purpose of the abstract is to appropriately summarize this series of deeds and other papers, which is frequently referred to as the property’s chain of title.
Where can I find copies of property-related papers like deeds?
Deeds are registered and maintained on file with the County Clerk’s Office of the county in which the property is located. The deeds, mortgages, various liens, and other real estate records that are kept there are open to public inspection. For a modest cost, copies can also be made.
What fees apply to closing?
A closing cost is any fee for services, taxes, or additional interest associated with buying a home. They consist of escrow or closing-day fees, title insurance, upfront loan points, document fees, prepaid interest, and property taxes. These fees must be paid at the time the home is closed unless they are rolled into the loan.