Three Questions About Real Estate in New York
Are you interested in buying or selling property in Buffalo? Here are three questions about real estate in New York that we commonly receive from our potential clients. Contact the Law Offices of Randy H. Gugino to learn more information.
Three Questions About Real Estate in New York | What Issues Can Arise During a Transaction?
The buyer and the seller must be able to coordinate and communicate transactions. This may sound easy, but there are so many circumstances that can arise. Our firm knows that people have to work to accommodate one another, and every party involved must finish her or his work. Title searches, surveys, and grid requirements all have to be respected, and everybody has to be on the same page in terms of timing. Communication is essential, and it so simple to accomplish this nowadays via email. Each party can communicate where he or she is in the process of the transaction to the other parties so that everyone can coordinate.
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Three Questions About Real Estate in New York | What Is the Biggest Mistake I Should Avoid?
Our firm believes that the biggest mistake in acquiring a residence is falling in love with the house before you really know what its value is. It is important that you have a real estate broker or an attorney who will be able to apprise you of what the market in that area is and to have a general understanding of the conditions of those local properties. If there is an issue with regard to a sinkhole, asbestos, or the education system in the area, you want to know these things as you investigate whether you want to buy the house. Before you fall in love with the house and decide that it is the house for you, find out the answers to those questions so that you can be comfortable with the house for years to come.
Three Questions About Real Estate in New York | What Is Important to Know About the Sales Agreement?
In Erie and Niagara Counties, properties are selling rapidly. People are getting multiple bids for properties. This has created a trend in which, once the bids are put in, an impromptu auction occurs. Our firm believes that sellers should make sure that their realtors are entertaining all the different offers and negotiating the best prices. Conversely, attorneys who represent buyers should not continue negotiating once they have agreed upon or submitted purchase prices with a third party. The goal is to have the property taken off the market as quickly as possible. A wise choice would be to include terms in the real estate agreement that dictated the removal of the property from the market on the date that the agreement was signed.
If you have other questions about buying or selling property in New York State, please call experienced Buffalo real estate lawyer Randy Gugino today for a consultation.
