Have you found your dream property but don’t know what to do? Get to know how working with a real estate lawyer can make that dream a reality.
The New York real estate market is constantly evolving not just in the design and building trends but also legally. Recent changes to the property laws in Utica, NY, touch on property condition disclosure, rent stabilization, and broker fees.
With the evolution of these laws, buying a house has become more challenging without the help of a qualified real estate attorney. At the Hobaica Law Firm, we experienced in real estate law and equip ourselves with the latest information in the real estate market including the development of laws to ensure that our client's interests are protected in every listing we help you to close.
Our legal support and advice services cover potential property owners, including those buying cash through the bank or credit union. Our detailed approach ensures we provide tailored legal solutions that help you get the most out of the property you are looking to buy.
With experienced commercial real estate lawyers, we can help complete all the legal, due diligence for your property to avoid any unpleasant surprises down the road.
Buying property requires careful financial planning and budgeting. However, the unique nature of each property transaction means you can never be too careful, even if you’ve gone through the same process before. The costs involved might be different, and the financing requirements might also change.
Without the guidance of a trained and experienced real estate attorney, there are various financing mistakes that you might make that could not only be costly but could cause the deal to fall through.
One of the typical financing mistakes most property buyers make is waiting until they find the property they want for them to start looking into the mortgage.
If you speak to a commercial real estate lawyer, they will tell you that you should get started on your mortgage application as soon as you’re confident that you want to buy property. You should also get a Mortgage In Principle (MIP), which details how much you can borrow. This is important because it saves time when you want to make an offer, and it shows the seller that you’re serious about the purchase.
One of the consequences of waiting too late to apply for your mortgage is that you don’t dedicate enough time to shopping around. As a result, you end up with mortgage terms that aren’t the best. You should have your attorney go through every proposal to help you understand the jargon and ensure you pick the best financing for your situation.
When looking at the cost of a property transaction, it is easy to overlook costs such as title and property searches and surveys, mostly because you’re not aware of the ones you will need. By talking to a real estate lawyer near me, you can better understand the overall cost of the transaction and better plan for it when looking for finances.
The role of a real estate attorney is well highlighted in the initial steps of the transactions, such as doing title searches, property surveys, and drawing up the paperwork. However, the role of attorneys in real estate closing is just as significant.
Here are some of the functions of a real estate attorney during closings:
Don’t let the lengthy and complicated real estate red tape wear you down. We can help you with closings and the real estate transaction process.
When most buyers start the process of owning property, they quickly find out that completing the process is just as tedious as finding the money. At The Hobaica Law Office in Utica, NY, we have helped many clients navigate the murky New York real estate law and close on their dream properties, and we can do the same for you.
All you have to do is pick up the phone and call us at (315) 627-2800. You will get a free consultation and excellent legal advice to get your property ownership journey started on the right footing.
