Long Island Real Estate Attorneys – Nassau County and Suffolk County
Purchasing or selling a home can be a nerve-racking experience – whether you’re doing it for the first time or the fiftieth time. Complications in the area of real estate transactions are regrettably something that simply comes with the territory. Beyond merely negotiating contracts with the other party, a real estate attorney must take steps to ensure the contract accurately reflects the property’s condition, and that the client doesn’t get an unwanted surprise somewhere down the line. A real estate attorney must also consider the client’s needs beyond the closing date.
It’s important to ensure clients understand the various intricacies of real estate transactions, such as: What are the differences between various types of property sales? What’s an REO (real estate owned) sale and what does it mean for you? Is a short sale in your best interest? Should you order an engineer’s report? Who’s bearing what risk and why?
We Can Help
Getting an experienced real estate attorney is key to making the process run as smoothly as possible. Our firm has handled real estate transactions on Long Island for decades. We are fully capable and prepared to assist you in any way necessary, such as getting property listed with a real estate agent, drafting and reviewing contracts for signing, and ensuring property has clear title.
At times, establishing clear title can be a complicated process that demonstrates the need for an experienced real estate attorney. For example, clients frequently present us with letters from banks stating that their mortgage was paid off, but fail to realize the bank never recorded a Satisfaction of Mortgage with the county clerk. Without that document recorded, the mortgage will still appear on the property records when performing a search for encumbrances or liens. Even though the letter from the bank indicates the mortgage was paid off, it is simply inadequate for purposes of clearing title.
The solution often requires hounding banks to issue a proper Satisfaction of Mortgage. To make matters worse, often times the bank that should have issued the Satisfaction of Mortgage is no longer in business and its assets were purchased by another bank. This leads to a hunt to determine which bank should issue the Satisfaction of Mortgage, as well as establishing a record of assignment that shows how the mortgage got from one bank to the next. Things can get complicated quickly.
These are the types of problems we regularly solve. With offices located in Patchogue and Mattituck, we can be the skilled and conveniently-located Long Island real estate attorney you need. Whether you are seeking a real estate attorney as a buyer or seller, please consider contacting us to represent you. You may do so using our online contact form or giving us a call at (631) 475-9400 for our Patchogue office or (631) 298-1200 for our Mattituck office.