Like the rest of New York, Nassau County requires attorneys to represent both buyers and sellers during real estate transactions. Attorneys play a critical role in representing buyers during residential real estate transactions.
The Role of Buyer Representation in Nassau County
A real estate attorney represents the buyer’s best interests throughout the home-buying journey. From reviewing the Contract of Sale and negotiating favorable terms to reviewing title and coordinating with other professionals, the buyer’s attorney provides critical guidance and expertise.
The attorney for the buyer reviews the initial Contract of Sale provided by the seller’s attorney and ensures that its terms are clear, fair, and in the buyer’s interest. If there are any provisions of the contract that need to be changed, such as mortgage contingencies, repairs, and inclusions of personal property, the buyer’s attorney will negotiate with the Seller’s attorney to modify those terms. This can help prevent potential disputes that may arise during the transaction.
Property Condition Disclosures
Under New York State law, sellers must provide a Property Condition Disclosure Statement (PCDS) to buyers. As of March 2024, sellers can no longer offer a $500 credit to buyers at closing in lieu of completing the PCDS. In Nassau County, sellers frequently opted for the credit, but are now legally required to complete this document, providing detailed information about the property’s condition, including flood history and insurance obligations.
Title Search and Title Insurance
One of the most significant obligations of the buyer’s attorney is to ensure the property being purchased has clear title. The attorney arranges for a title search, which is conducted by a title company. The title search may reveal any past claims to the property, mortgages, liens, unpaid taxes, or legal disputes to the property. The title search ensures the seller legally owns the property and can sell it to the buyer in its entirety, without the added complications of unresolved liens, judgements, or outstanding mortgages.
After a successful title search, the buyer’s attorney will ensure the buyer obtains title insurance. Title insurance protects both the buyer and the lender from any future claims that may arise against the property due to title defects.
The Closing Process in Nassau County
Closings in Nassau County typically involve all parties—attorneys, agents, buyers, and sellers—meeting in person. Final walk-throughs, title insurance verification, and escrow fund management are critical steps where buyer attorneys play an active role.
Conclusion
In New York State, and specifically in Nassau County, real estate transactions are often complex, given the numerous legal requirements and potential for disputes. Having an attorney on your side and representing you as a residential buyer helps ensure a smooth process and that your legal rights are protected from the beginning.
If you are a buyer looking to work with an experienced lawyer in Nassau County familiar with the closing process, Sabrina Rabban is experienced in providing residential buyer representation and is here to help you make informed and confident decisions during your next real estate purchase. Schedule a free consultation and start your home purchasing journey today.