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Real Property Law in New YorkThis is our standard engagement letter which explains what services we provide and generally what happens in a typical residential real property purchase and sale. If you need legal assistance involving real property law in new york state or New York real estate law, contact a Lawyer who is familar with Real Property Law in New York! The legal services provided in a closing vary greatly depending on whether we are representing a purchaser or seller. Generally speaking they are as follows: If you need legal assistance regarding real Representation of Purchaser: • Review of Purchase/Sale Contract • Comply with contract dates, contingencies, terms and conditions • Review Proposed Deed • Review Mortgage Commitment/Comply with Lender Requirements • Order Title Report/Review Title Report/Comply with Title Company Requirements/Order Title Insurance • Prepare Equalization and Assessment form #RP-5187 • Preparation of Statement of Sale for closing • Review Lender HUD-1 (Settlement Statement) • Attend the closing (generally at office of lender’s local attorney) • Review documents to be signed at closing • Arrange for title company to record deed, mortgage and related closing docs Representation of Seller: • Review of Purchase/Sale Contract • Comply with contract dates, contingencies, terms and conditions • Prepare and deliver proposed deed • Prepare final deed conveying title from seller to buyer • Review Title Report and comply with Title Company requirements • Obtain mortgage payoff information from existing lender(s) • Prepare Statement of Sale for closing • Prepare Gains Affidavit form #TP-584 • Attend the closing (generally at office of new lender’s local attorney) • Review documents to be signed at closing • Arrange for title company to payoff existing liens ADDITIONAL SERVICES such as the preparation and negotiation of a Residential Purchase and Sale Agreement, Cancellation and Release of Contract, Power of Attorney, Hold-Over or Early Occupancy Agreement, Promissory Note and/or Mortgage, attending a closing located beyond Albany, Rensselaer, Schenectady or Saratoga County, or closing more than one mortgage loan are charged at our regular hourly rate with a minimum fee of $175.00. If you need legal assistance involving real property law in new york state or New York real estate law, contact a Albany Real Estate lawyer now! |
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