Real Estate Law 102: 4 Ways Tips For Closings in Forest Hills
We all know the tremendous real estate boom that Forest Hills has undergone in the past decades. Our area is a coveted one for real estate attorneys and brokers alike. For home buyers, real estate closings are the most exciting phase of the house buying process. That’s because even when you do all the paperwork, shake hands on the deal, and are practically ready to move in, you still don’t technically own the home until the purchase has closed.
Real Estate Closing is an exciting part of the process. Here is what you need to know when this phase of the buying or selling process begins:
Make sure everyone who needs to be is there
Closing is an important event, and the parties involved must be there to make it go smoothly. If it’s just you on the security deed, you need to be there, but if you want your spouse on the deed as well they have to come too. If for some reason your real estate contract closing attorney is not their, pick up the phone and demand it as this is a make or break time in your life.
This can be very difficult to arrange, especially if your spouse works out of state, but you don’t want to arrive on the big day only to find it delayed due to an absence.
Make sure everyone has the same paperwork
Even if you’re not the lawyer, it’s good to ask everyone if they have the same copy of the paperwork. During the home buying process, it’s very common for the paperwork to change. This could happen if for example you asked for some repairs to be done to the house as part of the sale. When this is added into the paperwork it changes the whole thing.
If one of you discovers during closing that the underwriter didn’t have the same copy as you did, this can lead to unexpected delays.
Plan to read the contract? Ask for it in advance
If you firmly believe in reading every letter of a contract before signing it, don’t sit down to do your reading at the table. NYC law disclaimers for real estate properties can be very lengthy. The contract can take as long as 6 hours to read, and it will be an unpleasant experience for the rest of those involved, if they’re willing to do so. Instead, ask for a copy in advance so you can read it fully without feeling rushed or embarrassed. No one will think poorly of you for wanting to see the contract in advance, and indeed they’ll probably be grateful to you.
Don’t get along with someone? Let the rest of the party know
If you have to be at the closing with your ex, it may be awkward and uncomfortable. Everyone else is going to feel awkward and uncomfortable if the closing turns into an argument. Let the lawyer know that you two need space. It’s possible to have the signing at the same time, but in different rooms, so you never have to see that person at all. It might seem a little embarrassing to make a request like that, but your team will be glad to do it—they don’t want an awkward situation anymore than you do.
Real estate closing is exciting whether you are the buyer, the seller, or even the agent. Make it a good one and a smooth process by following these simple tips to keep the process going.
Kand Real Estate Law Forest Hills 107-02 Queens Blvd Forest Hills, NY 11375 (718) 542-3000 https://www.realestatelawqueens.com/forest-hills-ny/.