Real Estate Lawyer
Started by breadandroses
about 6 years ago
Posts: 4
Member since: Apr 2015
Discussion about
I am hoping to buy the property I am currently renting, and the owner wants no brokers involved (translation: no commission) Its a condo and I already live here so I don't think my Board app will be awful. But I need a really good real estate lawyer. How do I go about finding one in NYC? Does one interview a real estate lawyer? Go strictly on recommendation? Thank much for any advice!
You do not need to worry about Board app as you long as you fill out all the information needed. It is a boiler plate transaction. So any reasonable real estate lawyer will be fine. You do not need a really good one who will charge by the hour. Ask you friends and colleagues for a reference.
Main checks are no open DOB issues, actually taxes and whether they have been paid, monthly common charges and upcoming assessments, review the financials and of course getting title insurance with lien search. You know the building day to day already.
I'll just tell a story about "the owner doesn't want any brokers." Back in 1988 one of my agents came crying to me because a buyer who she had been working closely with found something on their own and it was a good deal because it was direct with an owner who wasn't working with any brokers. I told her find out what it is - tell the buyer "What if we have a listing in the same building which is better for less money?"
And it worked - she found out it was a unit at 77 Bleecker St..... which had been on the market for quite a while... asking less money through brokers than the buyer had negotiated as the purchase price.
My point simply being Caveat Emptor - if you don't want a broker involved make sure you do your own research and don't just take an adverse party's word that the only reason is the fee.
Don't underestimate the board application- though with a good attorney it shouldn't be too much of an issue. It's not as boilerplate as it looks as more and more managing agents are treating condo and co-op applications nearly identically in terms of what they expect to see in the application. Sometimes the ego has to be taken down a peg- and a good attorney can help with that.
What 30 said. Most owners definitely price with an emotional premium. If you email me off board I'll be happy to send you a very good attorney referral. If you need assistance with the condo application, look up a company called Amp board package preparation.
Best of luck!
Keith
I have a very good Real Estate attorney, also reasonable
Please email me for the name: ellensilverman@esfundingco.com
Yes, 30, I'm not pleased about cutting out a broker. I would not do it this way if it were my choice. I feel like its flying without a net
The owner says no broker just because he/she does not want to deal with the seller pays concept that is universal in our real estate market. There is nothing stopping you from retaining (and paying on your own) a broker or other market professional to guide you as you wish.
Makes sense. Why not hire a broker/appraiser to give you pricing advice or any other advice you need? Use Miller Samuel for appraiser. They are the most respected.