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Nov 17, 2020 · Whether you are selling or buying, residential or commercial, New York real estate transactions require an experienced and dependable real estate attorney. Piccinnini Law offers experience, full accountability, and the ideal legal representation for any New York real estate transaction. For more information contact Piccinnini Law at (516) 500-2110.
- Understanding New York Property Disclosures
- How A Seller Should Make A Property Disclosure?
- What Seller Should Disclose to Potential Buyer?
- Disclosure vs Inspection
- When Will A Buyer Receive Disclosure statements?
- Must-Have Disclosures in New York
- What to Do When A Seller Lied?
By law, a seller must disclose certain aspects of a property’s history to a prospective buyer. This can cover a variety of issues and revelations, but it’s a chance for you to learn as much as possible prior to closing a sale. You see what the seller did to maintain the property. You learn about potential issues affecting the property (i.e.defectiv...
What does a property disclosure document look like? Homeowner disclosure statements can be as simple as a list of yes/no answers to stock questions the seller checks off about the property. The questions and documents are often put together, in writing, by real estate companies, in a real estate disclaimer statement. The seller then goes through an...
There are several common disclosures you tend to find in a disclosure statement from a seller. They often include: 1. Property renovations 2. Property repairs 3. Pest problems 4. Deaths in the property 5. Neighborhood nuisances 6. Property line disputes 7. Liens or other financial actions against the property Disclosure laws differ around the count...
A common question buyers, and you, may ask is: do disclosures take the place of inspections? Let it be noted that disclosures are not the same things as inspections. As mentioned earlier, disclosures are a set of documents put together by the seller or the seller’s real estate company, disclosing certain details about the property. But that doesn’t...
The buyer will usually get the required disclosure statements once an agreement is nailed down. If the buyer finds anything not to their liking, they can say no to the deal. Some sellers will give disclosure statements before getting an offer. Being up front about any potential issues saves time and hassle if things fall apart during the close of a...
There are certain disclosures required by law on a disclosure statement. These are the most important items. 1. Death in the Home: In some cases deaths that have occured in the home, must be disclosed to a potential buyer (i.e. homicides or children drowning in a home pool). 2. Neighborhood Nuisances: These can include things like neighborhood eyes...
Not that a seller would be intentionally deceitful about something that may be important or not quite right about a property, but that possibility exists. Home or property ownership carries certain risks, and it’s important that you have a good real estate attorney to make sure the real estate transaction goes smoothly. Chat with, or fill out a for...
May 2, 2023 · Remedies in Real Estate Transactions, Part 2: Specific Performance. Although most are familiar with the well-established axiom that real estate is a unique asset, it does not necessarily follow ...
Dec 11, 2015 · Real estate taxes are another common source of adjustments between the parties to a transaction. In Westchester County, New York, the area in which our firm is located, there are two or three different types of real estate taxes, all of which cover different periods of time in the calendar year. For instance, County taxes cover the calendar ...
Watson v. Muirhead (57 Pa. 161) Real Estate Transactions: “Conveyancing”. Due diligence is not a guarantee of clean title. Risk remaining after due diligence is “casualty” risk. “Upstate” and “Downstate” practice in their approach these risks.
Real Estate Clauses, Principles and Doctrines in New York (and what they may mean to buyers and sellers) Doctrine of caveat emptor. New York law follows the long-standing tradition in the purchase of real property that a buyer has the duty to satisfy himself of the quality of the bargained-for purchase of the property without trying the seller.
Feb 12, 2024 · The Basics of a Real Estate Transaction. At its core, a real estate transaction is simply the process of transferring ownership of a property from one party (the seller) to another party (the buyer). But many intricate steps occur behind the scenes to make this transfer of ownership possible. Here is a basic overview of the key phases:
