Understanding the Real Estate Settlement

The real estate settlement is the final step in purchasing or selling a property in New York or New Jersey.  Whether you are a first time homebuyer or veteran real estate investor, it is crucial that you know what to expect during a New York real estate settlement.

The date of the New York or New Jersey real estate settlement is usually negotiated at the beginning of the purchase process and is specified in the real estate contract.  At settlement, the final documents are signed, funds are distributed and the property is exchanged.  The deed to the property will also be recorded, reflecting the new ownership.

If you are the buyer in a real estate transaction, you will be required to pay closing costs, if applicable, at the settlement.  Closing costs generally include fees from obtaining a new mortgage and transferring property, including property insurance, title services and lender charges.  You will also need to sign legal documents at settlement, including lender’s documents if you used financing to obtain the property.  Read everything carefully to ensure that all of the agreed upon terms are included in the contract and lender’s documents.  A New York real estate attorney can help you by reviewing your paperwork before you sign.

Contact the law office of Decker, Decker, Dito & Internicola, LLP at (718) 979-4300 or (800) 976-4904 for assistance with your real estate transaction.

Steven T. Decker is an experienced real estate lawyer, author and speaker. With over 20 years of experience, Steven represents individuals and investors in the purchase of residential and commercial real property. Steven is the author of "The Five Myths that can Ruin the Purchase of Your Home" and he is the publisher of the "New York Real Estate Law Blog". If you are buying or selling a home or commercial property in Staten Island, New York City or New Jersey contact Steven T. Decker, Esq. to discuss the services that he offers and how his legal representation will assist you.

IMPORTANT DISCLAIMER: The information contained on this website is provided for general educational purposes only, should not be relied on as legal advice and does not serve to create an attorney client relationship. In utilizing this website you acknowledge that there is no attorney client relationship between you and Steven T. Decker, Esq. and that the information contained on this site does not and cannot serve as a replacement for the competent legal advice of a licensed attorney in your state. The content of this website is subject to the Copyright of its author, Steven T. Decker, Esq.
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