The benefit of hiring a real estate attorney in East Islip NY when making a purchase of real estate is that he or she can craft a specific agreement that takes into consideration your own interests. By adding special provisions, a real estate attorney in East Islip NY may be able to sweeten a deal in a competitive market. Some provisions you may wish to include are:
A Quick Closing
Many sellers do not want to be bogged down for months and also want to avoid having to pay two mortgages at once. A real estate attorney may include a fast closing to entice a buyer. After all, there are certain holding costs that a seller will pay if he or she has to wait longer for the closing.
For a seller who wants the assurance that a deal will go through but is not quite ready to move yet, a rent-back is an attractive option. This gives the seller the equity he or she needs to purchase a new home but allows him or her to have more time to make that move. If you are not in a hurry to move in or simply want to sweeten the deal, a rent-back may make your offer stand apart.
Purchase of Other Assets
Sometimes buyers will walk into a home and love everything about it. If you want to negotiate buying some of the furnishings, artwork or other items that are not fixtures in the home, the real estate attorney may include this information in the offer. This may justify a higher purchase price or give put even more money in the seller’s pocket.