There are a few key things to know about how the process of selling in New York is different from the rest of the United States.
Do you want to know how much cash your house is worth today?
There are some important things you need to know about the Long Island home buying process.
In New York, the process of selling a home varies slightly from how things are in the rest of the country. Here, we must use the services of an attorney from the first step onwards.
Typically when a person puts the terms of a sale together, they would then just have a contract between the buyer and the seller to be brought forward to a title company—who would then handle the closing.
This is not the case for us in New York. Instead, we have attorneys handle a large portion of the process.
Here, the contracts are created and reviewed by the attorneys representing each party involved.
So after the seller’s attorney writes a contract, they then send it to the buyer’s attorney. At this point the contract is reviewed, signed by the buyer, and sent back with a deposit for signature by the seller.
After that is complete, a title report is ordered. It is at this point, after the title report is in, that closing can be set up.
When laid out like this, the process may not sound too complex; however, it can take longer here than elsewhere in the US. A minimum of about two to four weeks should be expected.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.