Real Estate – Expect The Unexpected

REAL ESTATE – EXPECT THE UNEXPECTED

You would think that buying and selling a home in New York would be pretty straight forward. Everyday, countless people are buying homes while others are selling. No two sales are alike.  Every purchase and sale is unique. After representing purchasers and sellers over the last few decades, if Cheriff & Fink’s attorneys have learned anything, it’s to expect the unexpected.

Just this past year, our attorneys have encountered and solved the following issues:

The deck in the backyard isn’t always what it seems! When selling or buying, don’t assume the deck or the pool or even the addition — that’s “been there for years” — is legal. Often improvements were made without proper permits and paperwork. It’s not unusual to learn of this only on the eve of a closing, often threatening to put the transfer of title and the sale at risk. Hopefully issues like this don’t arise, but if they do, we have learned to call on experts in the field to assist in rectifying the situation. By using an expediter skilled in negotiating the maze of municipal requirements to quickly and professionally determine what is needed from a zoning and municipal angle, and projecting the cost, we can broker deals for sellers and buyers with such conundrums and create a solution which allows title to transfer despite the outstanding issues. Every deal is different, but being able to spot the problem and then creating a solution is something we are prepared to do. While clients never enjoy unanticipated problems, being able to quickly and correctly handle them is something we take tremendous pride in.

Quite often a lending institution will provide a list of additional hurdles to jump before a purchaser can secure their financing to buy a home. Banks will scrutinize the Contract of Sale, especially any Riders, to see if the Purchaser required work to be performed before closing or providing a credit to Purchaser in lieu of such work. It is the job of your attorney to anticipate these issues and attempt to minimize them before they even arise.

You can be assured that Cheriff & Fink will do everything they can to expect the unexpected to make your sale or purchase of a home as uneventful as possible.