Buying and Selling Real Estate in NY and NJ
If you are buying or selling real estate in NY or NJ, you need a smart and reliable lawyer to help you avoid all the risks and take good care of your money.
For most people, buying a home is their biggest life-time investment. For real estate investors, they have to ensure that the money they put into a property will return them profits with minimal losses. From rentals to flips, Shepelsky Law handles all the ins and outs of real estate transactions.
Hire an independent real estate attorney will ensure that your interests come first.
Ask many questions. Real estate contracts and lease agreements are complex multi-page documents and each paragraph has profound meaning in real life.
What are some things to watch out for in a Real Estate transaction?
- Do your due diligence.
- Have your attorney order lien searches early.
- Review lien searches – old judgments and old violations sometimes remain on record even from before the current owner’s taking title. You may inherit them if you are not careful.
- Check what happens if either party defaults or is unable to finish the transaction. What are the penalties for contract termination?
- Check for illegally constructed structures (municipalities require permits for decks, pools, Florida rooms, garages that are being used for habitation, and other similar structures).
- Check that the neighbor has not spread onto the property (fences, driveways and buildings sometimes turn out to be on the subject property and now you are buying/selling less land than originally designated).
- Certificates of occupancy sometimes show old uses of property where the current use has changed, but the permits were not followed (for example, the property used to be one-family and now is illegally being used as two-family).
- Make sure you do not inherit tenants that refuse to vacate the property even though your contract says you are buying a vacant land.
- For Sellers – make sure your buyers have mortgage pre-approval so you do not waste your valuable time (30-60 days) on a buyer who just does not have enough income and assets to qualify for that big mortgage. You are losing valuable market time where you could have been showing your property to better qualified buyers.
Shepelsky Law Group has closed thousads of real estate deals starting from 2003, saving their clients from big time problems and saving them from losing tens of thousands of dollars (sometimes even hundreds of thousands!)
We have prevented our clients from buying houses with illegally built decks, terraces, pools and garages (nobody wants to pay an architect and get permits from the city of they can get away with it!)
Marina Shepelsky and her team have informed clients of surprise unpaid property taxes, liens on property, bad mortgages, unpaid water arrears, and other unpleasant things the owners tried to hide from the buyers. Shepelsky Law has gotten people out of bad contracts and ensured they thrive in the real estate market in NY and NJ.
Even real estate sales in complex divorces are not a problem for Shepelsky Law Group!
Real estate fraud is still happening every day out there, please protect yourself by hiring professional caring attorneys who are on top of your deal.
Before you buy or sell any real estate, call us at Shepelsky Law Group and we will have your back, give you all the right information and tools, and protect your money.