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When a buyer or seller is in need of a real estate agent

        Then internet can help for that purpose, which helps the buyers and sellers to choose a trust worthy agent to help in the task of real estate transactions. There are many sources from where a seller or buyer can get knowledge of the real estate market but at last an experienced expert is a licensed agent.

      A very surprising thing about Realtor is that their service is usually free for the buyers, so why to miss a chance over this opportunity. Some buyers are under wrong impression that if they bypass the realtor than the seller might give them a huge discount on the purchase price of the property but the seller had already signed an agreement with the realtor in the brokerage firm also called as Real Estate office.

      The agreement's listing includes the percentage of the commission over the purchase price which the seller agrees to pay on selling of his house.

The difference here is that a part from the commission has to be given to the buyer's agent from the seller's agent and the real estate office.

When should I close the deal real estate

       The closing is the climax of the transaction. The buyer's New York Real Estate Attorney is normally the ringmaster who coordinates the time and place of the closing. The closing is where the parties meet to finalize the deal. 

Normally the parties you will see at the meeting are the seller and their New York Real Estate Attorney, the bank's New York Real Estate Attorney, and the title representative. What occurs at the closing table can be broken down to three major steps:

     The bank makes the loan to the buyer and in return the buyer gives the bank an interest in the property (Mortgage)

     The buyer turns that loan over to the seller and in turn receives a deed from the seller

     The title company makes certain that the seller does indeed own the property they are transferring

     Unless there are any serious outstanding issues, the closing can take about 2-3 hours. At this stage, the buyer should have obtained homeowners Insurance prior to the closing. Since not all insurance companies charge the same prices for the replacement value of a house you might want to shop around before the closing.

      Lastly, a day or two prior to the closing, it's always a good idea to do a walk though of the property to make sure that it is in the same condition as when you decided to buy it.

Finding a New York Real Estate Lawyer

     When looking for legal representation, most importantly, you want a New York Real Estate Attorney whom you feel comfortable with. If you don't feel comfortable with a particular New York Real Estate Attorney, chances are that you will not have a good working relationship.

     An experienced New York Real Estate Lawyer, who you feel comfortable with, can be greatly beneficial in explaining and reducing the mystery out of buying or selling real estate in New York. Your New York Real Estate Lawyer can review and prepare the contract of sale, order title insurance, and conduct key parts of the transaction. Making sure the property you are purchasing has no undisclosed liens. If they do exist, your New York Real Estate Lawyer can take care that they will be satisfied prior to the closing.

    The last thing you need is to have doubts and questions about your transaction. You want to make sure that after all the documents are signed and notarized, that you understand what just happened and that you are confident that everything was done correctly.

What should I know about the "Contract of Sale"

          The contract of sale is the first formal stage of the buying and selling process. When you have retained a New York Real Estate Lawyer and have made an acceptable offer, at this point in time, you and the seller will sign a contract of sale. The seller's New York Real Estate Attorney will normally draft the contract and then the buyer's New York Real Estate Attorney will review the contract to make sure that you are protected from any future problems (both legal and residential issues).

        

The biggest mistake a buyer or seller can make is signing a contract of sale before getting adequate legal representation. A contract of sale is an agreement to purchase and sell the property. Once it's signed, it becomes a legal document. If you change your mind and want to change the terms of the agreement or if you want out of the transaction altogether, then you will find yourself in an extremely frustrating legal bind. That's why an experienced New York Real Estate Lawyer is necessary

What happens if I do decide to buy a coop

You receive a stock certificate and a proprietary lease.

The co-op requires that each coop owner pay a "maintenance fee". If you own a condo, you'll be paying a "common charge." Usually, the monthly fee paid by a shareholder is almost double the fee paid by condo owners.

      Sometimes a co-op only "owns" the improvements, and some other company or organization owns the land. This form of co-op is not the normal situation, but it does exist. Your New York Real Estate Attorney should be able to assist you in determining if you are purchasing such a property.

Coop or Condos

         Cooperatives are the most popular property purchased in New York City. One reason for this is a trend away from expense-ridden properties where foreclosures are common. Another reason for coop popularity is convenience. Deals can be less expensive (about half the price of a condo) and may involve less paperwork in the closing. Less financial stress and fewer headaches might sound good, right? But what most buyers don't know is that when you buy a co-op, you're NOT buying the physical apartment.

     Actually, you're buying "shares" of a corporation that owns the building which contains the co-op on its land. Also keep in mind that, just like any other company, a co-op has officers such as a president, a vice-president and a treasurer. And just like any other company they're responsible for the well being of the coop. If the coop suffers a financial meltdown, you could lose your apartment investment altogether.