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In what has been described as a “buyer’s market,” many home sellers have resigned to the belief that there is little they can do to quickly get their homes off the market other than wait for the right offer to come along. Selling a home can be a daunting experience, but there are steps sellers can take to make them feel less helpless in the process.

By having an experienced real estate attorney involved in the selling process, from contract negotiations through closing, sellers can be empowered and receive peace of mind knowing their interests are protected.

Tully Rinckey PLLC’s real estate lawyers in Albany, NY represent buyers, sellers and lenders throughout New York’s Capital Region, including Albany, Troy, Schenectady, and Saratoga Springs. The firm’s real estate attorneys help sellers through the process to ensure they are not caught by surprise by liens or judgments that could derail a closing. Our attorneys can also help sellers speed up the process, guard them against unreliable buyers and ensure liabilities do not haunt them after closing. Here is how:

A Real Estate Lawyer’s Role in the Home Selling Process

1. Negotiations: When negotiating the terms of a purchase agreement with a real estate agent and buyer, a Tully Rinckey PLLC real estate attorney can work to ensure contingencies are as favorable as possible for the seller. Additionally,
   • A lawyer could review the property condition disclosure statement and make sure the seller is comfortable with what is being disclosed or that no conditions are being omitted or need clarifying.
   • A lawyer can ensure property condition disclosure statements are made in a way that does not scare buyers while also not exposing sellers to claims of fraud or misrepresentation.
2. Formal Offer/Contract: The real estate lawyers at Tully Rinckey PLLC can write terms into the purchase agreement to protect sellers’ interests.
   • Such terms could include clearly defined deadlines for every stage of the selling process and consequences for noncompliance.
   • A lawyer can advise the seller about what type of deed is in their interest to specify in the contract, such as a warranty deed or a quitclaim deed.
   • A lawyer can ensure the buyer adheres to the contract’s terms.
3. Attorney Approval Process: A Tully Rinckey PLLC real estate attorney can review the contract after it is signed by both parties.
   • In New York, sellers can reject a purchase agreement without penalty so long as they do so generally within three to five days after signing it.
   • A lawyer’s thorough and prompt review of a contract, along with any addendums or riders, will ensure sellers have adequate time to make an informed decision about the contract’s acceptance or rejection.
4. Inspections: A Tully Rinckey PLLC real estate attorney can review with the seller the home inspection report produced by the buyer’s inspector. The seller’s attorney can negotiate credits for the repair of any defects identified in the report or, in instances where conditions are far worse than expected, the terms under which a buyer can be released from the contract.
5. Title Search: A Tully Rinckey PLLC real estate lawyer will review a title report provided by the buyer’s attorney. If the title report identifies any mechanic’s liens or judgments or outstanding mortgages or taxes, the sellers’ lawyer can advise his or her clients on the steps they need to take to ensure the property’s title can clear closing.
6. Mortgage Process: On behalf of a seller, a Tully Rinckey PLLC real estate attorney can work with mortgage lenders to address any concerns that could prevent a buyer from obtaining financing for the transaction.
   • If an appraisal of the home by the buyer’s mortgage lender is lower than the sale price, a seller’s attorney can have his or her lawyer renegotiate the sale price with the real estate agent and buyer.
   • A lawyer can work with the seller’s bank to ensure his or her mortgage is properly satisfied.
7. Closing: A Tully Rinckey PLLC real estate lawyer can prepare and review closing documents after a lender approves a mortgage.
   • At the closing, the attorney will review the deed and other ancillary documents with the seller.
   • It is not uncommon for buyers to refuse to sign the closing documents and direct their attorneys to renegotiate certain terms or conditions. If needed, the seller’s attorney could enforce the purchase agreement’s terms relating to non-compliance, up to and including the day of the closing.
8. Post Closing: Sellers may find they need representation by a real estate attorney’s services after a closing if a buyer believes the sellers improperly removed permanent fixtures or failed to conduct repairs in accordance with the purchase agreement. Sellers could even face a lawsuit alleging fraud or misrepresentation relating to any of the property’s non-disclosed defects. Sellers may also find after closing their names are erroneously attached to liens or judgments against the sold property.

The real estate attorneys at Tully Rinckey PLLC frequently represent buyers, sellers and lenders for commercial and residential properties throughout New York State and New York’s Capital Region, including Albany, Saratoga, Schenectady and Troy. We are pleased to offer a FREE initial phone consultation for basic real estate matters, such as buying a home or selling a home! Contact a Tully Rinckey real estate lawyer today by calling 1-888-529-4543 or by email at info@1888Law4Life.com.

The most popular City / Village / Town Courts our lawyers serve:
Albany, Altamont, Amsterdam, Berne, Bethlehem, Brunswick, Clifton Park, Cohoes, Colonie, Coeymans, Delaware, Duanesburg, East Greenbush, Fulton, Glens Falls, Glenville, Gloversville, Grafton, Greene, Guilderland, Hoosick, Hudson, Johnstown, Malta, Mechanicville, Menands, Montgomery, Nassau, New Scotland, Rensselaer, Rensselaerville, Rotterdam, Saratoga, Schenectady, Schoharie, Schodack, Scotia, Troy, Ulster, Voorheesville, Warren, Washington, Watervliet