Real Estate

A residential closing is the sale of a single or multi family house. These closings require a residential contract of sale. Buying or selling a house is usually the biggest monetary transaction in a person’s life. Therefore, it is important both parties receive that which they are entitled. An experienced real estate attorney will protect their client’s money or asset at all stages of the sale and see to having a smooth closing where every party leaves the table satisfied.

A co-op closing is the sale of an apartment in a cooperatively owned building. In New York City, it is very common for an apartment to be a co-op. A co-op is essentially a share in the corporation that runs the building in which your apartment is located. When purchasing a co-op, the prospective tenant must pass board approval. An experienced real estate attorney will not only assist in your board application, but will engage in due diligence to make sure the corporation you are buying into is financially stable.

A condo is a piece of real estate situated on land owned by a homeowners association. Although more popular in Florida, some properties in New York are set up as condominiums. The owner of a condo has free reign over their unit (something not as common with co-ops) and has an interest in common areas. An experienced real estate attorney will be familiar with the ownership and contract of sale differences between condos and other real estate assets.

A commercial property is a building zoned for uses other than living. This could be a warehouse, hospital, shopping center, restaurant or office building. Contract negotiations for a commercial property are especially important because these pieces of real estate are bought and sold as business ventures. Only an experienced real estate attorney can protect your interests in a commercial real estate closing by keeping in mind your bottom-line through all stages.