Real Estate Department
Are you buying, selling or refinancing? A coopjera condominium
The law firm of Glen H. Darnell & Associates, has over 30 years experience in helping their clients through this painstaking process. We hold your hand the entire process and make sure there are no surprises.
The House Purchase Process
You have found the home of your dreams and agreed upon a price with the seller. What’s the next step?
We recommend contracting our law firm. We will provide you with a free consultation to explain all of the daring fees associated with the purchase of your home. These fees may include an engineer’s report, a termite inspection, bank charges, title insurance charges, home owners insurance and our legal fee.
Once you feel comfortable with the carts involved, we will suggest you obtain an engineer’s inspection. If the inspection does not uncover any major problem with the property, it is then time to enter into a contract of sale.
Our firm will negotiate the contract on your behalf and then meet with you to execute the contract. At the contract signing, the purchaser usually puts down a 10% down payment, and the contract is forwarded back to the seller for execution. The contract is usually contingent on the purchaser obtaining a mortgage commitment within 45 days. The contract of sale is not valid until both sides have executed the contract during the 45 days period, the title report is ordered to determine whether there are any legal issues concerning the property.
Once the mortgage commitment is issued and title issues are cleared, it is then time to set up a closing date. The purchase usually has a right to do a “walk-through” inspection within 48 hours of closing. Our firm then meets with the purchaser prior to the closing to make sure there are no outstanding issues. Please contact our office to discuss your Real Estate purchase.
The House Sale Process
Once you have reached our verbal agreement to sell your property, contact our law firm to make sure your transaction goes smoothly. Prior to drafting the contract of sale, we will meet with you to discuss all the costs associated with your sale. These include the broker’s fee, the title insurance charges, the mortgage pay off fees, state transfer taxes and our legal fee. We will also discuss and possible legal issues that need to be resolved such as a missing certificate of occupancy or possible liens on judgments.
After meeting, we will draft the contract of sale and forward it to the purchaser’s attorney. Once the contract is negotiated and both sides execute the contract, it is deemed valid. When the mortgage commitment is issued and any title issues are resolved, the closing date can be scheduled. Our firm meets with the purchaser prior to the closing to discuss and outstanding issues. Once these issues are resolved, it is time to close.
The Refinance Process
You are refinancing your property? Do you have an attorney present with you? For concepts such as consolidation agreements, title insurance discounts, 3 day night of recissions are foreign concepts to the average home owner and should be explained to you by someone other than the bang. Feel free to contact our office if you are considering refinancing your property.