real Estate

Tuesday, June 27, 2017

What a Homebuyer Should Look for in a Real Estate Contract

If you are buying a home, you will need to enter into a purchase and sale contract with the seller, which is typically a standard document prepared by the real estate agent. Nonetheless, it is important to have an experienced real estate attorney review the contract to ensure that your interests are protected.

Real Estate Contracts 101

There are a number of essential elements that must be included in a real estate contract. As you know, buying a home requires obtaining a mortgage loan to finance the purchase, and getting approved for a loan can be a difficult process that is often met with unexpected delays.

For this reason, it is important that the contract explicitly states that the deal is contingent on your loan application being approved.

Read more . . .

Thursday, June 1, 2017

Pitfalls to Avoid in a Commercial Lease in NY

Do I need a real estate lawyer to review my commercial lease?

Signing a lease on a building is often one of the most critical first steps to starting your successful new business.  By signing a commercial lease, you will obligate yourself to pay large sums of money for several years to come.  Given the seriousness of your lease obligations, and the fact that most leases will be written pro-landlord, it is critical that your Staten Island real estate attorney review your lease with an eye for the following potential lease traps: 

  1. Personal guarantees:  A personal guarantee will obligate you to pay the lease balance in the event your business does not succeed.

Read more . . .

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