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Bring your attorney into the process early, ideally before signing a purchase contract. We review the terms, identify issues requiring further investigation, and coordinate with your broker and lender so you understand your commitments before moving forward.

In a typical NYC residential transaction, an accepted offer or deal sheet is generally a starting point. The parties ordinarily become bound through a properly signed and delivered written contract. Have your attorney review any document before you sign.

Arrange an independent inspection early, generally before signing, so findings can inform negotiations. An inspection addresses physical conditions; legal due diligence addresses different issues. Any right to inspect, request repairs, or cancel after signing must be addressed in the contract.

A mortgage contingency may allow cancellation if you cannot obtain the financing described in the contract, provided you satisfy its requirements and deadlines. Preapproval is not a final commitment. Protection depends on the exact language, including notice requirements and any exceptions.

Gather your deed or ownership documents, mortgage information, tax and water bills, renovation records, and any leases. For an apartment, include management details and building documents. Early review helps identify missing paperwork and questions before a buyer is ready to sign.

Many sales of one-to-four-family residential property require a completed Property Condition Disclosure Statement before the buyer signs. Exemptions apply, including generally to co-ops and condos. The former $500 credit alternative has been eliminated. We assess your obligations for the specific sale.

These issues can affect a buyer's review, financing, and closing arrangements. A Certificate of Occupancy describes permitted use and occupancy; requirements vary by building. We review the available records and contract obligations and coordinate with appropriate professionals when further work is needed.

Only if the parties agree. A written post-closing possession agreement should address the move-out deadline, escrow, occupancy charges, insurance, and responsibility for damage. Raise this request early so the buyer, lender, and attorneys can evaluate it before closing.

A co-op buyer generally acquires shares in a corporation and a proprietary lease. A condo buyer receives a deed to a unit and an interest in common elements. Financing, monthly charges, transfer procedures, and building rules differ.

Available offering plans and amendments, governing documents, financial statements, board minutes, and management responses help reveal building obligations and risks. Review should include assessments, planned repairs, reserves, and restrictions. The documents available and the scope of review vary by transaction.

Co-op purchases commonly require a board application and approval, often with an interview. Condominiums may require an application and waiver of a right of first refusal. Each building's documents establish its process, fees, and requirements.

Building documents may impose assessments, transfer fees or flip taxes, and restrictions on subletting or renovations. Ask about existing and anticipated charges early. The governing documents and contract determine which obligations apply and how costs are allocated.

Costs depend on price, property type, financing, and contract terms. Buyers may have lender, title, recording, mortgage recording tax, mansion tax, and building charges. Sellers commonly have transfer taxes, mortgage payoffs, brokerage charges, and legal fees. We help review transaction-specific estimates.

For a deeded property, title review examines ownership and recorded matters such as mortgages, liens, and easements. A co-op involves different ownership and lien searches. Issues identified must be evaluated against the contract and applicable closing requirements.

Timing depends on contract terms, financing, title matters, building approvals, and the parties' readiness. A contract's “on or about” date may allow flexibility rather than guarantee that exact day. Coordinate moving plans with your attorney before making firm commitments.

Confirm all wire instructions directly with our office using a phone number you already know is correct before sending funds. Treat unexpected changes as a warning sign, even if the email appears familiar. Never rely solely on emailed instructions.