New York City & Brooklyn Real Estate Closing & Lease Review Lawyer

Whether you are a buyer or seller, and whether you are involved with residential or commercial law, 99.9% of the time the other party is armed with a real estate lawyer. Why? The amount of documentation involved as well as all the nuances are overwhelming for a non-attorney. Why go to war without any ammunition? You need the right New York real estate closing lawyer. Although not a requirement, it is a MUST in our professional opinion. The best way to protect your investment, your bank account, and the legacy you will leave your family is by hiring the right real estate closing attorney.

If you live in Brooklyn, Queens, Manhattan, Bronx, or Staten Island, we cover all five boroughs for your real estate closing needs. Do you live outside of New York City? No problem. Our devoted attorneys are here to travel to your location and to the location of the opposing counsel to ensure you are protected and watched over throughout the entire closing process. We will ensure that our principal real estate attorney, Richard F. Rozhik, Esq., is heavily involved during the entire transaction. As many conferences and meetings as you need with the buyer/seller, you can come to our Brooklyn, NY location. When you retain The Rozhik Law Firm, you are no longer a client, you are family. Our house is your house. Our resources are your resources.

How much do we charge? We did not become successful by digging into the pockets of our clients. Our service is inexpensive, of high quality, and garnished with expert precision. Cheap retainers exist. Cheap does not equal poor quality. We want to stay competitive in this market and the only way we know how is by providing a service that is worth significantly more then what you actually pay for. We want to ensure you are coming out with the sense that you found a bargain. Contact us today at (917) 567 1963, or email us at RichardRozhik@gmail.com.

The quick answer, Absolutely! From the several tasks that an attorney handles, some of the most important include your lawyer negotiating with both parties to make sure the transaction comes together in an acceptable and peaceful manner that is fair and equitable to both sides. The real estate attorney enters the scene once the terms and price have been established by the realtors and the parties involved. What the attorney will do is review the contract, negotiate any additions such as repairs needed to the property based on what is stated in the inspection report, and be in contact with the title company. Your attorney will also be present during the settlement stage. What is the best part of hiring the right real estate closing lawyer? You have an advisor willing and ready to provide you expert advice.

Whether you are getting ready to sign into a commercial or residential lease, it is always advisable to have an attorney review the agreement before signing. Why? The most obvious answer is leases typically favor the landlord since it is the landlord who drafted the lease in the first place. Before even signing off on the terms, you are already at a disadvantage. With the right representation however, the playing field becomes much more even.

A lease can range anywhere from five to twenty pages and it is typically filled with legal jargon. A NYC real estate lawyer is experienced enough to sift through the information and identify the crucial subsections that will have the most significant impact on your terms. Even with a sublease, it is always advisable to have a lawyer draft or review the document. Laws vary from state to state. As someone who never went to law school, you would naturally be unaware of what is expected in a sublease.

From the perspective of a lessor, it is understandable that you want your rights protected. You’ve spent a considerable amount of time and money into acquiring your property. Now that you are able to lease it out for commercial or residential use, terms and conditions should certainly be included in the agreement that gives you the fairness as a landlord that you deserve. Having a proper lease review attorney draft the document is crucial. Our firm is positioned to provide you with representation that will have you coming out of the transaction completely satisfied.

The single biggest transactions a person experiences in their lifetime deals with real estate. Whether you are buying or selling a house, a condominium, or a coop, you need the right attorney in New York to ensure the process goes smoothly from beginning to end. This episode in your life can be stressful and complicated. This is why hiring an expert New York real estate attorney like Richard F. Rozhik is the best decision you can make to avoid any issues and pitfalls that may arise. The last thing we want you to experience during your real estate deal is a crisis.

Richard F. Rozhik will provide you with legal counsel above and beyond any other real estate closing attorney in New York. He has the right connections within the real estate community. From mortgage lenders to real estate brokers, Richard F. Rozhik has his ear in the business and can help you find reliable and inexpensive personnel to make sure your transactions go swiftly without any delay.

Preliminary Closing Procedure

Information about the costs associated with the closing on your new home should be given to you before a contract on a house is established. Normally, people seek out a mortgage or loan to purchase their property. Your lender has three days from the time the loan application is submitted to provide you with what is called a "Good Faith Estimate" on your loan. This is a overview of all of your costs so there are no surprises about what will come out of your pocket. Once this preliminary step is complete, the actual closing process begins. Keep in mind to be aware of various residential and commercial real estate issues that may arise during the preliminary stage. Also, if a trust is involved with the property, certain information about trusts and real estate are important to be aware of.

Open An Escrow Account

This is an account which is held by a neutral party, not the buyer or seller. Why? During a real estate transaction, so much is happening and the best way to avoid funds from magically disappearing is by having a neutral third party maintain all of the funds in an escrow account. Crucial documents of the property are also held in this account.

Title Search and Title Insurance

This process ensures that if there is a lien on the house, or if someone has a claim on the property, you are issued insurance for the piece of real estate in case someone files a claim against you. The title search usually goes back several years. The further it can go back, the better. We have found that more then 1/3rd of title searches show issues with the title be it a claim or a lien. Other possible title problems include errors or omissions in the deeds, mistakes in the examination of records, possible forgery and fraud, and undisclosed heirs. The property may have been disputed at some point prior to your arrival. By getting the appropriate title insurance, you are protecting yourself from any unwanted distractions.

Find Your Lawyer

This step is optional but we highly recommend you call Richard F. Rozhik, Esq., before you even begin to consider buying or selling a property. Closing documents can be hard to understand for a non-expert. We aren't saying it is impossible to figure out, but it certainly isn't easy. Hire the right attorney to help you walkthrough each form presented to you so you have a good handle on everything that is happening.

Negotiate Closing Costs

Fees, fees, and more fees. That's what you will be seeing if you don't have the right attorney with you calling out all the various parties involved during the closing process. There are many administrative fees and application review fees that are simply not necessary. In the industry, we call this junk fees. Richard F. Rohzik, Esq., can spot a junk fee immediately and make sure it does not get included into the bottom line.

Home Inspection

Please do not skip this step. It is optional but in our humble expert opinion, the home inspection is completely necessary. This is where you inspect the home or property (preferably with a specialist) to make sure the home is in good condition. Any damages or possible repairs that you see can be negotiated to be covered by the seller. If the damage is extreme, you can simply back out of the deal at this point.

Pest Inspection

This is different from a home inspection. This step usually involves an examination of the house for termites. At times the seller is willing to pay for the removal of pests. Again, if damage is bad, you can simply back out of the deal. Neither you or I know how to find termites, which is why we have the perfect company on standby to help with this inspection. Richard F. Rozhik, Esq., doesn't just provide you with your legal real estate needs, he also has you covered for all of the peripheral personnel associated with purchasing or selling property.

Renegotiate Offer

After the inspections, this is where you can decide to talk with the seller on adjusting the price. Maybe the foundation was aligned improperly, or the second floor of the home has housed a small family of termites, whatever the case may be, you can let the seller know now what your new price range is on the real estate. Also, the home in question may have tenants living in it already. This too can pose certain unexpected issues for the buyer. This is the perfect time to address all of the new developments that have arisen this late into the process.

Get Your Interest Rate

Locking in your interest rate is important. Interest rates are volatile so find a position that you are comfortable with. A good lender will usually keep an eye out on interest rates closely for you. Be aware rates also vary by on credit scores, regions, and the type of loan that you are looking to acquire.

Abolish Contingencies

Within a purchase offer, certain contingencies are stated in which your offer is dependent on such as the home inspection results and whether or not you will be able to get proper financing. These contingencies must be abolished and removed in writing by a specified date for your deal to be finalized.

Funding The Escrow

When you initially entered into the closing process, you deposited money into the escrow account to show the seller you were serious about buying the property. In most cases, the entire downpayment and additional closing costs are not fully deposited in step 1 of this process. This is usually the time where you deposit the difference which is owed to complete the closing process.

Final Walkthrough

Yes, we already examined the property an at earlier point and went through a few inspections. My question is, how long ago was that? Days, weeks, months? It is a good idea to walkthrough your property one more time to make sure everything is sound and no additional damages have occurred since your last visit.

Finalize Documents

I hope your a good reader. At this time, you will be reading around 100 pages of legal jargon found in your closing papers. No need to get an anxiety attack, this is why you hired Richard F. Rozhik, Esq., in the first place. He will examine the documentation for you and let you know of any abnormalities in the papers prior to you signing anything.