What to Know About Selling Residential Real Estate in New York

What to Know About Selling Residential Real Estate in New York

If you are in the process of moving and selling your home, it is important to be sure that all of your bases are covered before you pass the keys to your home’s new owners. There are several factors to consider to get the most out of your property. You will require the assistance of a trusted New York City real estate attorney who can represent you and your best interest. To learn more about this process, continue reading and contact our firm.

The Contract

When someone is interested in purchasing your home, the first step you will take is to enter into a contract with the individual. A buyer will put an offer on the table regarding the house and their own terms. This will allow you to review these points with your attorney. You will either accept, deny, or modify the contract. Negotiating a contract is one of the most important steps in this process because it allows you to reach the results you desire when selling your home. The buyer will have the opportunity to inspect the property you are selling once the contract is signed.

Home Inspection

Once the contract is signed, the buyer has the right to inspect the property they are purchasing. In many cases, individuals will hire a certified home inspector to investigate the house to see if there are any major issues that need to be addressed before closing the deal. The owner will generally be expected to address any issues that arise including any work required to fix issues or taking money off the asking price of the property. As the seller, you will be able to negotiate these requests to resolve certain issues. This will allow you to share the expenses or even reject the request altogether.

Closing

If there are no major issues left and the process goes smoothly, both parties can engage in the final process of closing the deal. This will occur only when each issue regarding the property is addressed and both parties are satisfied with the deal. Before the buyer receives the keys to the home, they are able to do one last final walk-through to ensure that no new problems have arisen since the inspection. You and the buyer will then sign the closing statement, authorizing the purchase of the house and allowing the money to transfer.

Contact Our Firm

Zimmet Law Group, P.C. is an experienced team of attorneys guiding clients through matters of estate planning and administration, divorce and family law, real estate, commercial litigation, business law, bankruptcy, and landlord-tenant law. If you require the services of an effective New York City attorney, contact our firm today to schedule a consultation.

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