Real Estate Closings, Including Co-Ops And Condominiums

The real estate market in New York City is competitive, and buyers and sellers who encounter missteps during the sale, purchase and closing process can end up wasting a considerable amount of time and money. In some cases, costly errors often result in a broken deal and a buyer losing out to another party.

At Turek Roth Grossman LLP, we are well-versed in all applicable state and city laws, regulations and requirements that govern the real estate closing process, which ensures that we represent the best interests of our clients, regardless of the scope or complexity of the deal.

Our attorneys routinely assist both buyers and sellers of residential properties, including co-ops and condos, to ensure that the closing process is smooth and efficient. In addition to making sure that all financial documents and materials are in order, our attorneys assist clients with the following matters:

  • Review purchase and sale contract
  • Represent clients in any negotiations or amendments to a purchase and sale contract
  • Account for the payment of related taxes, including real property transfer tax, mansion tax and flip tax
  • Handle transfer of deed or proprietary lease
  • Address insurance requirements, including title and mortgage
  • Ensure payment of fees, including move-in, filing, loan origination and bank fees
  • Conduct due diligence on cooperative and condominium buildings, including the reading of board meeting minutes

In New York City, the closing process for residential co-ops and condos is exceedingly complex, and buyers and sellers can be required to have an attorney. Not all attorneys are equipped to manage complicated closings. The attorney you choose and his/her experience matters.