When you’re involved in buying or selling real estate, you seek the counsel of an experienced lawyer for real estate who understands the municipal and state laws governing your deal. Residential home buyers and sellers need a top-notch, local house closing attorney, while commercial businesses require the complex skills you find in a real estate closing attorney. Find these legal experts at Albert Maimone & Associates, P.C., in College Point, Queens, which serves all five NYC boroughs, as well as Nassau and Suffolk counties. This boutique law firm specializes in real estate law from every angle. Call today for a free consultation.
What’s the Difference Between a Residential Real Estate Closing and a Commercial One?
A residential property has the sole purpose of housing or the private living quarters for an individual or family. A commercial property is used for business activities. This may be an obvious difference, but remember that they also differ in requirements when it comes to real estate closings.
A traditional home closing is fairly systematic and differs from home to home. Less complicated than a commercial closing, a residential closing normally involves a buyer, seller and a residential real estate attorney on both sides. A commercial real estate closing is a bit more complicated due to more people being involved. A buyer and seller, as well as corporate attorneys and board members, must all be on the same page to finalize the sale of commercial property.
Whether you’re involved in a simple two-party residential real estate closing or a transaction with multiple parties, look for a closing attorney near me in New York City to find the team of real estate specialists at Albert Maimone & Associates. They provide the highest quality legal services without charging the big firm legal fees.
How Should I Prepare for My Real Estate Closing?
When closing on a residential property, your house closing attorney assures you that all bases have been thoroughly covered and that the state real estate law has been followed. A real estate closing attorney for commercial deals ensures that all involved parties have the proper documentation to move forward with the closing. Your NYC lawyer for real estate helps you translate confusing real estate terminology and prepares all the documents needed to close on the property.
Once you’ve found your desired property and have been pre-approved for a loan, your house of lawyers finalizes the details so closing is possible. The steps to close on your house or commercial property typically follow a standard process that includes:
- A final inspection of the property must be done to ensure all state regulations are met and any previous property damage is documented and repaired.
- Contract examination. If residential, a house closing attorney reviews all the documents of the sale, as well as the chain of ownership and the property’s past paper trail.
- Deposit determination. Lawyers on both sides along with the buyer and seller meet to determine the exact deposit due on the date of sale and when the closing date will be.
- Letter of commitment. You need a mortgage commitment letter as a formal document proving that you have been approved for the loan.
What People Say
I have used Mr. Albert Maimone for various legal matters. He is great to work with, very efficient, always makes time for his clients. I would highly recommend him to anyone looking for a Real Estate Attorney.
What People Say
I used the Law offices of Albert Maimone & Associates, P.C. located in Whitestone, NY for numerous legal matters this past winter. Mr. Maimone was professional and courteous. He helped me plan my mothers Estate and helped me Sell my home in Whitestone, NY. I would recommend Albert Maimone & Associates, P.C. to anyone in need of an Attorney. He has a client for life.
What People Say
Awesome service! Simple and to the point! They don't beat around the bush. I will definitely go back to them for any legal advice and services that I might need in the future. Highly recommended!
What Does a Closing Attorney Do?
A real estate closing attorney facilitates the closing process and provides answers to questions from the buyer and seller. The main purpose of a closing lawyer for real estate is to review and approve closing contracts, ensure all legal requirements have been met and determine the amount of deposit due to certify the sale.
A few things must be accomplished before a closing can be finalized. An attorney for house closing can help steer the process of closing in the right direction, reducing complications and hold-ups. The main responsibilities of a real estate closing attorney near me in NYC include:
- Preparing closing documents. The seller’s attorney draws up an initial contract that includes all the information needed.
- Examining the title. The title is examined to inspect the chain of ownership for liens, deed transfers or any previous property disputes that can compromise the sale.
- Obtaining insurance. A lawyer reviews the title and gets title insurance for the buyer, so that all parties are confident in the legality of the sale.
- Coordinating the closing. The house of lawyers organizes all parties involved to nail down an official date of closing. All closing documents must be completed and all parties involved must be aware of exactly what funds are to be collected on the day of closing.
- Fund distribution. The closing attorney is responsible for making sure all funds are correctly distributed to the correct parties involved to finalize the sale.
What Other Benefits Can I Expect from an Attorney for House Closing?
Although New York State doesn’t require you to have an attorney when buying or selling residential property, they are required when selling a business. Hiring an attorney is a good idea to protect your interests and your investment. A house closing attorney at the boutique law firm of Albert Maimone & Associates provides a range of benefits that include:
- A free consultation and case evaluation
- A deep understanding of the concerns and needs of small and medium-sized businesses and business owners
- Dedication, focus and a hands-on approach to every deal
Having someone on your side who’s well educated in all the legal jargon and processes of a real estate sale can be a huge relief when it comes to buying a new home or a commercial building. Other benefits your legal team offers include:
- Navigating real estate language. An effective real estate closing attorney translates unfamiliar legal language into words you can understand.
- Offering insider knowledge. Full knowledge of real estate law is vital to ensure closing documents and agreements are correct.
- Avoiding costly mistakes. The last thing you want is to discover a misstep when you’re days away from closing.
Where Can I Find a Real Estate Closing Attorney Near Me?
For residential and commercial real estate closings, Albert Maimone & Associates practices in all five boroughs of NYC, as well as in Nassau and Suffolk counties on Long Island. They advise buyers and sellers alike with all their real estate issues. They are a house of lawyers with a client-centered approach.
If you’re buying or selling property in the New York City area and you’re wondering where to find a closing attorney near me, contact Albert Maimone & Associates for dependable advice and skilled representation in all real estate matters. Based in Queens, New York, they provide the highest quality legal counsel without breaking the bank with big firm legal fees. Albert Maimone & Associates: Helping clients get the results they need.
Albert Maimone & Associates P.C.127-16 14th Avenue
College Point, Queens, NY 11356 (718) 357-1216