SMART BUYER GUIDE

Buying a home in NYC is unlike any other place in the world. We will help you from start to finish (aka closing).

SMART BUYER GUIDE

Buying a home in NYC is unlike any other place in the world. We will help you from start to finish (aka closing).


Questionnaire

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Preparation

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Buyer Requisites at a Closing

As a buyer, at closing, you or a representative with power of attorney must appear in person. Also, unless you are paying with cash, you must have loan documentation in hand, have proof of a title search, a closing disclosure agreement, proof of real estate appraisal and proof of insurance if necessary. Additional documentation may also be required.
If you have any questions — as a buyer or seller — contact the attorneys at Fisher Stone, P.C. for more information.

Buyer Guide for Residential Property

The American Bar Association outlines, “20 Important Steps for a Real Estate Closing.” While all the steps are important, as a buyer there are several requisites that you must pay particular attention to in order to both protect yourself and to make certain that the sale is legitimate.If you have any questions — as a buyer or seller — contact the attorneys at Fisher Stone, P.C. for more information.


  • Verify Seller is within Legal Rights to Make Sale

    While not intuitively the first question you might ask, it is critical that you verify that the person or corporation trying to make the sale can do so legally. There are a number of circumstances in which a sale is not legal.For example, if the seller is a ward, in bankruptcy or an estate, only a court order can make the sale legal.In order to determine whether or not a person has the legal right to sell a property, you will need to obtain information like full name, current address, marital status, social security numbers, work and home phone numbers and current employment status.And, at all closings, the seller’s personal identification must be present.

  • Obtain a Legal Description of the Property

    Only a legal description — something you will normally get through a title search — gives you a complete understanding of what it is you will be buying. Generally, the property deed has the most accurate legal description. The legal description provides critical information like location, size and boundaries.

  • The Mortgage Lender's Information

    It is not uncommon for a lending agency to be involved in a transaction. Unless the seller owns the property free and clear, you will be required to determine whether or not the lender will permit the seller to make the sale.To do so, at a minimum you will require the name of the lending institution, the phone number, the lending institution’s address and the loan number.

  • Marriage Status of Seller

    Divorces, deaths and legal separation can hold back a sale. If there are two or more names on a property title, all parties with a stake in the property must be present at the closing. If the seller is a widow, a death certificate must be present at the closing.

  • Costs Outside Purchase Price

    Find out how much of a commission the seller’s agent will be making, who will be responsible for paying that commission, what the real estate transfer taxes are and who will pay for them and what additional costs there may be.For example, if you are purchasing a new home, you may end up paying for the developer’s closing costs.If you have any questions about buying residential property in New York, contact the attorneys at Fisher Stone P.C. for more information.

Our Clients Love Us


“Fisher Stone have the unique ability to know what they want and go get it!”
-Caitlin

“From the moment I stepped into Fisher Stone’s office, I knew I was in the right hands.”
-Nick

“It was very refreshing to feel like someone cared about me in my time of need. I am very appreciative of Fisher Stone, P.C.”
-Janelle

“They are always available to answer my questions and are great at communication.”
-Danny

 

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REAL ESTATE LAW OFFICE LOCATIONS

Charging Bull

25 Broadway, 10th Floor
New York, NY 10004
(212) 838-8500

300 Park

300 Park Avenue
New York, NY 10022
(212) 570-0003

Williamsburg

134 North 4th Street
Brooklyn, NY 11249
(718) 355-9671

Dumbo Heights

81 Prospect Street
Brooklyn, NY 11201
(718) 233-9058

Studio Square

3537 36th Street
Astoria, NY 11106
(718) 313-0191

Our Clients Love Us


“Fisher Stone have the unique ability to know what they want and go get it!”
-Caitlin

“From the moment I stepped into Fisher Stone’s office, I knew I was in the right hands.”
-Nick

“It was very refreshing to feel like someone cared about me in my time of need. I am very appreciative of Fisher Stone, P.C.”
-Janelle

“They are always available to answer my questions and are great at communication.”
-Danny