Aug 5, 2021
Attorneys. We hate them. We love them. However, we need them. They can be costly, but being cheap can be very expensive. Here in New York when a real estate transaction happens it involves attorneys on both sides of the table. A good one can be worth its weight in gold and a bad one can really leave you in the dirt. Today we are talking about why using a good New York real estate attorney is imperative in order to ensure you have a successful outcome when you are on either side of the table in a real estate transaction.
It’s imperative to hire an attorney who understands the workings of New York City Real estate. They are your gatekeeper to owning a sound investment. Walking through a property is not enough, you need to look under the hood. A good attorney will know the right questions to ask the building’s representatives about the health of the property. Having an attorney with local knowledge is KEY. Real Estate in New York City is specific to itself. The documents that are part of the due diligence include financial statements, offering plans and amendments to those plans and the attorneys that do this all the time can efficiently go through all of this and then let you know more about your investment. They often will read board minutes to see if any expenses are coming down the road for you and if the building doesn’t allow that then they will send a questionnaire that asks all the important questions so that you are covered.
A knowledgeable attorney can save you a lot of time and money. Don’t be penny wise and pound foolish.
Any other questions? Reach out to us at www.therealestatebroadsofnewyork.com or you can email us at email@example.com
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