December 22, 2014










Qualified Long Island Real Estate Attorney

When you need a real estate closing attorney in Long Island, NY who will protect your interests in any type of real estate transaction, contact the Law Office of Andrew M. Lamkin, P.C. I represent sellers, buyers, real estate brokers, developers, mortgage lenders, and others in all types of residential and commercial real estate transactions. While I handle real estate closings in New York, I am also experienced in negotiating and drafting sale and purchase agreements, lease-purchase agreements, and leases. I can assist you with title issues and work to protect your rights throughout the real estate transaction.

What is a Real Estate Closing?

Also known as settlement, a real estate closing is the final step in executing a real estate transaction. The closing date is typically set during the negotiation phase and is often held several weeks after the offer is officially accepted by the seller. On the closing date, both parties finalize the purchase contract, and ownership of the property is transferred to the buyer. In most jurisdictions, ownership is considered to be officially transferred when the deed is moved from the seller to the buyer. Additionally, lenders who are providing a loan for the mortgage may require a title service, including title insurance and title search, land survey, appraisal, and attorneys to be present.

Before the long-anticipated real estate closing date arrives, however, it is important to understand what you can expect during the entire closing process from the moment that the seller accepts an offer to the first time the buyer places the keys inside the front door:

  1. Open Escrow
  2. Do a title search and obtain title insurance
  3. Find an attorney
  4. Negotiate closing costs
  5. Complete the home inspection
  6. Complete the pest inspection
  7. Renegotiate the offer
  8. Lock in your interest rate
  9. Remove contingencies
  10. Funding escrow
  11. Final walkthrough
  12. Sign the papers

Due to the complexity of the closing process, it is often advisable to have an experienced Long Island real estate lawyer work with you to ensure that you understand each of the steps and how it will affect you throughout the course of purchasing or selling a property. Keep in mind that you may be facing two closings: one for the purchase of the property and the other for the mortgage loan.

How Can a Long Island Real Estate Closing Lawyer Help Me?

In any type of real estate transaction or any issue involving property, it is important that you seek legal counsel from an experienced attorney as soon as possible. While you may feel as though an attorney is unnecessary, one mistake in a real estate transaction could have serious consequences years into the future. The following are several ways in which I can help to ease the closing process for both sellers and buyers:

For Sellers –

  • Prepare contract modifications
  • Prepare, review, and negotiate the real estate contract
  • Explain the real estate contract to you
  • Review the title commitment and address any defects
  • Correspond with both the title company and the buyer’s lawyer
  • Prepare for closing and draft your closing statement
  • Prepare the deed
  • Represent you at the time of closing

For Buyers –

  • Review and negotiate the real estate contract
  • Review report from the home inspection and resolve issues
  • Correspond with the title company, the seller’s attorney, and lending institution
  • Prepare for closing and draft your closing statement
  • Review the title and mortgage commitments
  • Represent you at the time of closing

Contact the Law Office of Andrew M. Lamkin, P.C.

This is an important time in your life and having an experienced Long Island real estate lawyer to represent you is essential to ensuring that the transaction proceeds as smoothly as possible so that your rights are protected. I have experience solving many problems and overcoming obstacles that may arise, such as certificate of occupancy issues, title objects, and financing complications. Whether you are selling or buying, let me assist you throughout the real estate closing process. Contact the Law Office of Andrew M. Lamkin, P.C. today at (516) 605-0625 for more information.