Those who own real estate in the Bronx often want to sell for the best price possible and as quickly as possible. Instead of relying solely on a real estate agent or attempting to manage the entire listing and sale process alone, Bronx property owners may benefit from retaining the services of an experienced real estate attorney even before they list their property for sale.
An attorney can prevent many of the common pitfalls that arise during a real estate transaction and can allow sellers to focus on optimizing the sale price of the property rather than worrying about the closing timeline and the various issues to address to effectively transfer titles.
What can a real estate attorney do to facilitate a faster, smoother closing process?
Addressing common disruptions proactively
There are several issues that can arise and derail a scheduled closing after the seller accepts an offer. In some cases, there could be outdated title records that cause closing complications. Out-of-date records regarding ownership, easements and property liens can prevent a title company from issuing the policy necessary for the closing to occur. An attorney can conduct a cursory title review in advance and hope sellers take the necessary steps to address those title issues effectively before they list the property.
The attorney supporting the seller can also review records with the Department of Buildings (DOB). Old citations related to issues such as boiler or fire exit violations could prevent the closing from occurring as scheduled. An attorney can identify and help address those issues in advance.
Handling compliance and paperwork
Sellers may be unsure of what disclosures are legally mandatory and how to handle the complex paperwork necessary to have their home listed for buyers to view. While an agent can assist with some of those needs, an attorney has unique insight into the law and contract requirements.
Real estate lawyers can help sellers ensure that their disclosure documents fulfill all of their legal requirements. They can also review offers and proposed purchase agreements to ensure they do not leave the seller financially exposed or at risk of future claims from buyers upset about issues with the property.
The guidance of a real estate attorney can help sellers feel confident about their preparation before listing a property and managing all the documents they intend to sign. Securing support before a listing goes live can make it easier for sellers to protect themselves and make it to the closing table as quickly as possible.