New York Real Estate Attorneys

1. Contract Signing — Once price is agreed, the seller's attorney prepares a contract. You have a 10-day attorney review period to review, request modifications, and negotiate protective clauses. This is when your attorney's involvement most directly protects you.

2. Due Diligence — We conduct or coordinate the title search and review deed restrictions, easements, or title issues, and facilitate the buyer's inspections.

3. Mortgage Commitment — The buyer's lender issues a commitment letter, typically within 45–60 days of contract signing. We coordinate with the lender and flag any issues.

4. Title Clearance — Any title issues are resolved before closing.

5. Closing — We attend the closing, review all documents, confirm numbers, and ensure the transaction is properly recorded.

The 10-Day Attorney Review Period

‍Most buyers don't know this window exists until they're already in contract. This is when your attorney negotiates the contract terms that protect you. Letting it expire without legal review is a significant risk.

‍Mansion Tax & Transfer Taxes

‍New York imposes a transfer tax on real estate sales — NYC adds its own. The 'mansion tax' (an additional buyer's transfer tax) applies to purchases at $1,000,000 and above on a graduated scale. Knowing these costs upfront prevents surprises at closing.

‍NYC Co-op Board Approval

‍The co-op board reviews a detailed financial package — tax returns, bank statements, employment letters, personal references — interviews the buyer, and has the right to reject without giving a reason. We help buyers prepare their board package thoroughly to maximize the chance of approval.

Real estate transactions in New York involve a lot of moving parts: your agent, the other agent, the lender, the title company, the managing agent (in co-op deals), and the other attorney. We coordinate all of it so you're not chasing status updates or wondering what's next.