Real Estate Attorney For Buying A Coop in New York
If you are looking for a real estate attorney to assist you with the purchase of a Condo unit, contact Danziger Legal PLLC, an experienced real estate attorney that has handled numerous condo transactions.
Buying a Condominium (or Condo) is similar to buying a single family house. You are buying a piece of real estate that gives you ownership of your unit along with an undivided interest in the common elements, which include the hallways, elevators, gym, laundry, and any other common areas. When you buy a condo, you buy the property subject to the rules and regulations of the Condo and the governance of a board of directors, who run the condo and can implement or change rules. You will pay a monthly fee to the Condo for “Common Charges.” The Board can also levy assessments, when necessary, for maintenance and repair. Property taxes are billed directly by the municipality to the Condo homeowner and you will be responsible for these property taxes.
If you are purchasing a Condo, our real estate law firm can assist you with negotiating the terms of Contract of Sale and going over the Contract with you. We will also review the Title Report to ensure that the Seller will be able to provide good title. We can assist you with any legal issues that arise during your mortgage application process if you are borrowing money for the transaction. Our attorney will also prepare for the Closing of Sale, calculating closing adjustments for common charges paid and real estate taxes, and drafting or obtaining the required paperwork including the Deed of Sale. Finally, we will attend and supervise the Closing. You will be prepared for the Closing and no of all fees and procedures in advance.
Contact today and speak to our real estate law firm regarding the purchase of your Condo.
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