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need real estate lawyer e quickly

Started by kar3f
over 14 years ago
Posts: 57
Member since: Sep 2009
Discussion about
Hi, I put an offer on an apt and it was accepted. I don't have a broker to recommend a lawyer. I called a couple, but they will be out of town thurs-monday. Anyone know of a good lawyer, one that does good due diligence for a first time buyer.
Response by nyc_apt_buyer
over 14 years ago
Posts: 10
Member since: Apr 2009

We used Mike Carmody at Parker & Carmody when we closed on our first place (also without a buyer's broker) about a year ago. He was recommended by friends and we'd definitely use his services again. Good luck with your closing.

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Response by kchungnyc11
over 14 years ago
Posts: 8
Member since: Oct 2011

I used Howard Borkan and he is very good. His email is hborkanlaw@aol.com

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Response by gcondo
over 14 years ago
Posts: 1111
Member since: Feb 2009

never use a lawyer recommended by your broker. think about it.

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Response by ba294
over 14 years ago
Posts: 636
Member since: Nov 2007

i disagree.
They work within network, thus the referral.
If they had worked together in the past, they are probably more efficient at moving pieces together. Better communication and understanding of one another's approach.

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Response by REFAN
over 14 years ago
Posts: 76
Member since: May 2010

Jonathan Helfer of Katz and Matz. 212-244-4630. Very responsive, great guy.

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Response by evainc
over 14 years ago
Posts: 3
Member since: Dec 2011

I sold a property where the buyer used Paul Giddins,Esq. The transaction had its more than usual twists and turns

and I was very impressed with the professionalism that the buyer's attorney displayed. Guess who I've used when

it was my turn to play Buyer. This attorney specializes in Manhattan condo&coop transactions and teaches

Continuing Ed. classes in real estate to younger attorneys. Look him up! You'll not regret it.

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Response by gcondo
over 14 years ago
Posts: 1111
Member since: Feb 2009

sorry, but I want a lawyer that does a thorough job, not one that is interested in moving a place quickly. I know that moving a place quickly is in the broker's direct interest, but not necessarily in a buyer's interest.

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Response by ba294
over 14 years ago
Posts: 636
Member since: Nov 2007

You want a lawyer who does thorough job AND move a place quickly, in the interest of a buyer. Which buyer wants a delay?
Look for an attorney who is digital. Someone who can scan, email, sign and return contract within few minutes (after thorough review). Someone who can communicate well over email and blackberry.

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Response by tdbankomar
over 14 years ago
Posts: 3
Member since: Apr 2012

Katz and Matz are great to work with.

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Response by Ottawanyc
over 14 years ago
Posts: 842
Member since: Aug 2011

Besides pushing paper, can anyone give me some real examples of value added by lawyers? I am genuinely curious what type of issues that a good lawyer will spot. Seems like pretty basic transaction in most cases. How much changes between transactions?

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Response by MSantori
over 14 years ago
Posts: 29
Member since: Mar 2012

Let me explain, from a lawyer's perspective, how the industry works:

There is a category of attorneys out there who are quite inexpensive and will do flat-rate jobs of $1000 or so. They are usually "closings attorneys" who do several closings per week. That's all they do, and they do it in high volume. As in any industry some are good and some are not very good at all. The good ones do deals efficiently and are also willing to spend time negotiating terms that protect their clients. Then there are not so good ones who do things quickly at the cost of their client's protection.

There many closings lawyers in the second category. The problem is endemic to their business model - some do too much volume to really be able to negotiate protective terms for their clients, and aren't wiling to put in the time to figure out how to do so. If you can find a lawyer in the first category, though, he might be a good choice for you if you want cost-effective counsel.

There is a whole other universe of lawyers out there who are not "closings attorneys". Closings are only a small portion of their practice. They do other things, like litigation, syndication, or commercial financing and leasing. They are deal-makers, not just deal-closers. They can spend hours on your deal - days even - but they will get it right and negotiate the absolute best terms for you that they can muster. They'll probably annoy the hell out of a closings attorney because they aren't there to just get the deal done. They're there to get it right for their client.

As a result, they aren't cheap. You might pay twice as much for a lawyer in this universe, or even more. You will, however, be able to reach this kind of lawyer by email, telephone, smoke signal or carrier pigeon, and he'll respond immediately. They will negotiate not just the rider, but the standard contract as well. They'll come up with creative solutions tailored to your particular situation and your particular concerns.

As you can probably tell, I think you should go with the a lawyer in this universe. Whichever you choose, though, ask what other work the lawyer does. Ask how many closings he's done in the last week. Ask how fast he's going to respond to your emails. Ask how many hours he's willing to put into your deal - and do it all in writing :)
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Marco Santori is a lawyer in New York City, but he isn't *your* lawyer, and you should not rely on this post for legal advice. If you have any other questions, feel free to email at MSANTORI@NMLLPLAW.COM

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