NEW YORK COMMERCIAL AND RESIDENTIAL REAL ESTATE
BUYING
We provide representation of the buyer interested in purchasing real estate for residential or commercial purposes, including:
- reviewing and analyzing the contract and contract rider;
- negotiating and drafting modifications to documents initiated by the seller;
- negotiating and drafting the buyer's contract rider;
- assisting clients, interested in buying a co-op apartment, to prepare a board application for submission to the building's board of directors.
- A typical board application includes a detailed financial statement (with supporting documents) and reference letters, but may include other documents and information at the board's discretion. The board is also likely to conduct a background check and interview. A co-op cannot be purchased without buyer approval from a building's board.
- ordering, reviewing, and analyzing the title search and survey
- A title search is an examination of public records to determine and confirm a property's legal ownership, and whether legal claims against the property exist.
- A survey is an assessment of property lines to determine the exact amount of land that a homeowner owns, and whether easements (legal right to use) exist on the property;
- reviewing and analyzing the terms of any lease(s) on the property;
- negotiating any issues which may arise regarding the title search, any lease(s) on the property, and buyer's request for mortgage;
- drafting the breakdown of closing costs;
- negotiating a date of closing and representing the client at closing, including review and discussions regarding closing documents
- On the Closing date (also referred to as completion or settlement), the ownership of the property is transferred to the buyer;
- Most closings are actually two closings: closing on the purchase of real estate, and closing on a mortgage loan to buy the real estate.
- Providing notice(s) of the ownership change to any tenant(s).
SELLING
We provide representation of the seller interested in selling real estate for residential or commercial purposes, including:
- drafting the contract and contract rider;
- reviewing, analyzing, and negotiating modifications to documents requested by the buyer;
- reviewing and analyzing the buyer's contract rider;
- analyzing the title search and survey;
- providing assistance and advice (not including real estate litigation) regarding title issues;
- reviewing and analyzing the terms of any lease(s) on the property;
- analyzing the closing costs;
- negotiating a date of closing and representing the client at closing, including drafting of closing documents and payment.
LEASING
A residential lease agreement is a contract between an individual tenant and the landlord to use of property for living. A commercial lease is a contract between a business tenant and landlord for use of commercial property to generate a profit through the sale of goods, services, or manufacture of a product. We provide representation of the owners or tenants of residential and commercial properties, including:
- negotiating the terms of commercial and residential leases between owner(s)/landlord(s) and tenant(s);
- drafting leases and riders on behalf of the owner(s)/landlord(s);
- reviewing leases and riders on behalf of the tenant(s), and drafting additional riders, as needed;
- negotiating the terms of commercial and residential leases between owner(s)/landlord(s) and tenant(s).
LANDLORD-TENANT
We provide representation of the owners or tenants of residential and commercial properties, from the inception of legal issues through the completion of trial in non-payment and eviction matters.
Note: We work with non-Romanian attorneys handling real estate matters in Florida, California, and the European Union.