Buying and Selling Real Estate
If you are buying or selling real estate in Western New York, you might be confused on what you should do. It’s important to have someone direct you along the way. Here is some important information on buying and selling real estate in Buffalo.
Buying and Selling Real Estate | What You Need
If you’re moving toward a real estate transaction, you may already have a trusted team assembled – but be sure not to leave out any key players. An experienced attorney will be indispensable in navigating the legal issues of real estate.
If you’re a seller, you’ll have a:
- Realtor
- Attorney
- Surveyor
- Title insurance company retained by your attorney
If you’re a buyer, you’ll have a:
- Lender
- Loan broker
- Realtor
- Home inspector
- Attorney
- Insurance agent
All of these individuals are experts in their respective areas, but don’t forget that you lead the team. These professionals should be communicating regularly and working together to assist you.
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Buying and Selling Real Estate | How an Attorney Can Help
Whether you are a buyer or a seller, your attorney will assist you from the time you enter the contract all the way through the closing and beyond. Once your attorney receives the contract, he or she will reach out to you to discuss the contract and its terms, assess your personal situation – whether you will be selling, buying, or renting a home, and whether you’re coming from out of state or moving out of state – to understand how to assist you.
Following that conversation, the attorney can prepare the attorney approval letter under the terms of the contract. They next steps depend on whether you’re buying or selling.
If you’re the seller, your attorney will ask you to gather certain documents. If you are the purchaser, the next step is the title examination and a discussion about the terms of your mortgage.
Your attorney should advise you about the contract, including the timeline of the transaction, any significant or unusual terms, and your obligations under the terms of the agreement.
Contact our experienced Buffalo real estate attorney today if you are interested in buying and selling real estate.