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Real estate law for Westchester County and the greater New York area
Residential Purchases and Sales
Buying or selling a home in New York is one of the most significant financial transactions most people undertake. Unlike many other states, New York requires attorney representation at closing for both buyers and sellers. Your real estate agent handles the brokerage side. Your attorney handles the legal side, including contract negotiation, title review, mortgage commitment contingencies, and closing. Attempting a New York residential transaction without an attorney is not advisable and in practice not how the market works.
Parandian Law represents buyers and sellers in residential real estate transactions across Westchester County, New York City, Rockland County, and Nassau County. We handle single-family homes, multi-family properties, and condominiums from contract through closing, with the responsiveness and personal attention that the New York residential market requires.
New York residential contracts are negotiable documents. The standard form contracts used in Westchester County and New York City differ and each contains provisions that require review and often modification before signing. We review every contract before our client signs and negotiate terms that protect their interests throughout the transaction.
Residential Real Estate Attorney New York · Home Buyer Attorney Westchester · Real Estate Closing Attorney · Contract Review Attorney New York · Title Review Attorney · Westchester County Real Estate · New York Closing Attorney · Home Sale Attorney
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New York residential real estate framework
Residential purchases and sales — the essentials
In New York, the purchase contract is negotiated and signed before a mortgage commitment is obtained and before title is searched. The buyer typically has a mortgage contingency period during which they must obtain a commitment letter from their lender. If the commitment is not obtained within the contingency period, the buyer may cancel the contract and recover their down payment. The contract also contains an inspection contingency in most transactions, giving the buyer a defined period to conduct inspections and negotiate repairs or credits. Understanding and negotiating these contingencies is one of the most important functions of the buyer’s attorney in a New York residential transaction.
Title review is a critical step in every New York residential transaction. A title search examines the chain of title to the property, identifies any open liens, judgments, violations, easements, or encumbrances that could affect the buyer’s ownership, and determines what title insurance will and will not cover. In New York, buyers purchase an owner’s title insurance policy at closing to protect against defects in title that the search did not reveal. Sellers are responsible for delivering title that is insurable and free of defects. We review the title report, identify any issues that need to be resolved before closing, and work with the title company to clear them.
Key FACTS
Attorney representation:
Required at closing in New York
Contract timing:
Signed before mortgage commitment
Typically 10 percent at contract signing
Standard, typically 30 to 60 days
Inspection contingency:
Negotiated, typically 10 to 14 days
Title insurance:
Owner’s policy purchased at closing
Transfer taxes:
NY State, county, and mansion tax may apply
Closing location:
Typically at title company or lender office
What we handle
Residential real estate services
Buyer and seller representation for residential real estate transactions across Westchester County and the greater New York area.
Contract review and negotiation
Review and negotiation of residential purchase contracts before signing, including mortgage and inspection contingency terms, closing date, personal property inclusions and exclusions, and seller representations. We identify unfavorable terms and negotiate modifications that protect our client’s interests before they are bound by the contract.
Title review and clearance
Review of title search reports to identify open liens, judgments, violations, easements, and encumbrances affecting the property. We work with the title company to resolve title issues before closing and advise buyers on the scope of title insurance coverage and any exceptions that will appear on their policy.
Mortgage commitment and closing coordination
Coordination with the buyer’s lender, the title company, and opposing counsel to prepare for closing. We review closing disclosures, confirm figures, and ensure all conditions to closing are satisfied before our client signs. We attend the closing and review all documents before signing.
Seller representation and closing
Representation of sellers from contract through closing, including review of the purchase contract, preparation of seller documents, transfer tax filings, payoff coordination with existing lenders, and attendance at closing. We advise sellers on their disclosure obligations and ensure a clean transfer of title to the buyer.
How it works
Our residential real estate process
01
Contract review and negotiation
We review the purchase contract before our client signs and negotiate any modifications needed to protect their interests. For buyers, this includes reviewing contingency periods, down payment terms, and closing date. For sellers, this includes reviewing representations, closing conditions, and any buyer contingencies that could delay or derail the transaction.
02
Due diligence and title search
We order or review the title search, identify any open liens, violations, easements, or encumbrances, and work to clear title issues before they delay the closing. For buyers, we also monitor the mortgage commitment timeline and advise on any issues that arise during the inspection or lender underwriting process.
03
Closing preparation
We coordinate with lenders, title companies, brokers, and opposing counsel to prepare closing documents, confirm figures, and schedule the closing. We review the closing disclosure and advise our client on all documents they will be signing before the closing date so there are no surprises at the table.
04
Closing and post-closing
We attend the closing, review all documents with our client before signing, and handle any last-minute issues that arise at the table. After closing, we confirm deed recording, title policy issuance, and any post-closing obligations such as escrow releases or payoff confirmations.
Common questions
Residential purchases and sales FAQ
Do I need an attorney to buy or sell a home in New York?
Yes. New York real estate closings require attorney representation for both buyers and sellers. Your real estate agent handles the brokerage side of the transaction. Your attorney handles the legal side, including contract negotiation, title review, and closing. The contract you sign when buying or selling a home in New York is a legally binding document with significant financial consequences. Having an attorney review it before you sign is not optional in practice. It is how the New York market works and how your interests are protected throughout the transaction.
When should I hire an attorney in a home purchase?
You should contact your attorney before signing the purchase contract, not after. In New York, the contract is negotiated and signed early in the transaction, before you have obtained a mortgage commitment and before a full title search has been completed. Once you sign the contract, your ability to negotiate terms or walk away without losing your down payment is significantly limited. The time to have an attorney review and negotiate the contract is before you sign it, not after a problem arises.
What is included in a title search and why does it matter?
A title search examines the public records relating to the property to identify the chain of ownership, any open mortgages or liens, unpaid taxes or municipal charges, judgments against prior owners, easements, deed restrictions, and any other matters that could affect the buyer’s ownership. A buyer who purchases property subject to an undiscovered lien or defect may be responsible for resolving it after closing. Title insurance protects the buyer against defects that the search did not reveal, but it does not eliminate the need for a thorough search. We review the title report, identify any issues, and work with the title company to resolve them before closing.
What transfer taxes apply to a New York residential sale?
New York residential sales are subject to several layers of transfer tax depending on the location and price of the property. New York State imposes a real property transfer tax of 0.4 percent of the consideration. New York City imposes an additional transfer tax on properties within the five boroughs. Properties selling for one million dollars or more are subject to the mansion tax, which is paid by the buyer and ranges from one percent to 3.9 percent depending on the purchase price. Westchester County does not impose a separate county transfer tax, but municipal transfer taxes may apply in certain localities. We advise buyers and sellers on the applicable transfer taxes and coordinate their payment at closing.
Related services
Often considered alongside Residential Purchase and Sales
Have a transaction coming up?
Get experienced real estate counsel on your side before you sign anything. New York residential transactions move quickly and the contract is binding from the moment it is signed.
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