The Law Firm Of Guttmann & Kellner, P.C.
25 West Main Street
Smithtown, New York 11787
Phone: 631-360-2175
Fax: (631) 360-3393
24 Hour Number: (718) 830-7121
E-Mail us at ExperiencedLaw.com
"When Experience Counts"
BUYING OR SELLING YOUR HOME?
KNOW YOUR RIGHTS.
REAL ESTATE CONTRACTS AND CLOSINGS
BUYING YOUR HOME
The purchase of your new home may be the single largest investment that you will ever make. You've shopped around, seen dozens of houses and now have found just the right house. The hard part is over, now is the time to contact a law firm that has the experience to walk you through each step of the process; from the engineer's report to contract, through the mortgage application and finally to the closing.
ENGINEER'S REPORT:
Before you enter into a contract to purchase a home it is essential that you have a qualified engineer perform a thourough inspection of the entire house. Does the house need a new roof? How sturdy is the foundation? What about the heating, plumbing and electrical systems? Once the inspection is complete, the engineer's written report must be read by your attorney. Any questions that you have concerning the physical condition of the house must be addressed.
THE CONTRACT:
As the buyerr who is despositing a large downpayment, you will want a real estate contract that protects you if the deal should fall through without any fault of your own. Your attorney must insist upon a mortgage contingency clause which protects your downpayment in the event that you are unable to obtain a mortgage. A solid contract must protect both parties. All contingencies must be considered so that if problems arise you are protected.
MORTGAGE PROCESS:
Once the contract is signed, you as the buyer must find the mortgage that best suits your budget. Your attorney should be available to answer all your questions as you sort through the various types of mortgages and lending institutions.
TITLE SEARCHES:
Simultaneous to the mortgage process, your attorney must make sure that the seller can convey title to the property to you as specified in the contract. A title search needs to be performed to determine if the house you are about to purchase is free of encumberances.
THE CLOSING:
You will probably sign your name more times at the closing that at any other time in your life. Dozens of state tax forms and mortgage documents must be executedand your attorney must walk you through the entire process.
The Law Firm of Guttmann & Kellner, P.C. has handled countless contracts and closings for both Buyers and Sellers alike. At our law firm you will always receive prompt, courteous, and individual attention at all times. Contact us with any real estate questions you may have by
E-Mailing us at ExperiencedLaw.com,
"When Experience Counts."
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