At real estate closings in New York, both buyers and sellers must have a lawyer present to protect their best interests. If you’re planning on buying property in the Empire State, though, you shouldn’t wait until just before the closing to seek legal counsel. Here are a few ways an attorney can help at various stages of the transaction. 

How a Lawyer Will Help You Navigate a Real Estate Purchase 

1. Reviewing the Purchase Agreement

The purchase agreement is the foundation of every real estate transaction. This legally binding contract is signed by all parties fairly early in the proceedings as it details various deadlines. For example, the purchase agreement might stipulate when the buyer has to complete the mortgage application and what kinds of repairs the seller must make. Since the seller’s lawyer will draft this agreement, you can be sure virtually all its terms will be in their favor, so it’s essential to have your own attorney review it and request modifications as needed. 

2. Interpreting Complicated Legal Jargon

The documents associated with purchasing a home are rife with legal jargon. And since your life’s savings may very well be at stake, it’s essential that you understand every word. Fortunately, a knowledgeable attorney can explain exactly what you’re signing before you enter into any kind of agreement with the seller, lender, or other relevant party. 

3. Answering All Your Questions 

Questions and concerns will inevitably arise over the course of the proceedings, and your lawyer can answer all of them. An attorney can also discuss hypotheticals. For example, what might happen to the property in the event that you and your spouse get divorced? What if only one of you is taking on the mortgage? Should both your names be on the deed? Your lawyer will be able to answer all these questions and more so you can complete the transaction with confidence. 

If you want to buy property in New York, turn to John E. Bach Attorney at Law for legal counsel. Located in Orange County, this seasoned lawyer has more than three decades of experience helping clients complete complicated transactions. He also assists with estate planning and family law matters, and his firm is available 24/7 to answer your call. To get in touch with Attorney Bach, call (845) 294-7941 or fill out the form on his website.