Buying or selling a home sounds simple enough, but in reality, it may be a complicated legal process that requires a hefty amount of paperwork. If you are buying or selling property in Long Island, New York, hiring a real estate lawyer will make the transaction fairly straightforward. Real estate lawyers in Long Island are familiar with the specific laws of selling and buying property in New York, and will make sure that an exchange of property is proper.
When property is exchanged, sellers must demonstrate that they have legal title to that property. To make sure that there are no defects in the title of the property, real estate lawyers perform a title search. During a title search, the real estate attorney will study the history of the property to confirm that there are no issues with its past ownership. This process involves analyzing the language of property documentation, such as deeds, which can become tedious and confusing to those unfamiliar with these exchanges.
Your real estate lawyer will also make sure that the proper documentation has been received from the lender. If you are the buyer, you must take several steps to make sure that your loan is approved by the financial institution. Your real estate lawyer will make sure that these documents have been executed properly before you sign them at the closing.
Most individuals are unfamiliar with the legal process for buying and selling property. Real estate lawyers are available to provide guidance during this process.