Real estate is one of the most valuable and expensive assets a person can own. For this reason, any transaction involving real estate must be planned and executed carefully in order to protect everyone involved. If you are planning to buy or sell real property in the state of New York, you need a skilled real estate attorney like Adam Karhu on your side.
About Real Estate Transactions
Because real estate transactions involve so much money and so many stipulations, the process of selling or buying a home can be complicated. In most cases, the process begins when an interested buyer makes an offer on a property listed for sale. After reviewing the offer, the seller can choose to accept it, reject it or make a counter offer. Once the buyer has made a satisfactory offer and the seller has formally accepted it, the seller and the buyer will agree upon a date for closing. In many cases, certain obligations must be met before closing can take place. For example, the buyer may have requested an inspection of the property, or the buyer’s lender may require a formal appraisal before the sale can take place.
After all of the requirements for closing have been met, both parties will transfer any necessary funds into an escrow account, which is an account designed to hold funds until the transaction is complete. At closing, both parties will sign all of the necessary paperwork, funds will be released from escrow and the property will change hands legally.
Working with Adam Karhu
Real estate contracts are complicated, and the process can be challenging and overwhelming. Whether you are a seasoned investor or a first-time home buyer, you need someone who has experience with real estate transactions to ensure that you don’t make any costly mistakes and that your interests are adequately protected throughout the entire process. Without this guidance, you may find that your contract is not as beneficial as it could be. In the worst cases, your transaction may even fall through and/or result in significant financial loss.
Adam Karhu is an experienced transactional real estate attorney who can properly guide you through your home purchase or sale.