Buying a home is one of the biggest financial decisions most people will ever make. Whether you’re a first-time buyer or upgrading, understanding the process is key. As a real estate attorney, I’m here to walk you through the major steps to ensure a smooth transaction and protect your interests.
Step 1: Get Pre-Approved for a Mortgage
Before you start browsing listings, talk to a lender and get pre-approved. This helps you:
- Understand your budget
- Show sellers you’re a serious buyer
- Streamline the process once you find the right home
- If you need help finding the right lender- call us, we can connect you with experienced loan officers to get you started
Step 2: Find the Right Property
Work with a licensed real estate agent who knows your target neighborhood. They’ll help you schedule showings, evaluate market value, and make an informed offer when the time comes.
- Need help finding the right real estate agent in your area- we can help guide you to make the right decision. We’ve worked with thousands of agents, we know what makes a good agent who will work for your needs.
Step 3: Make an Offer & Negotiate
Once your offer is accepted, the seller’s attorney will draft the contract. Your real estate attorney will:
- Review the contract terms
- Negotiate changes as needed
- Help coordinate a home inspection
- This is where we come into the process
Step 4: Sign the Contract & Submit Your Deposit
Once terms are agreed upon, you’ll:
- Sign the contract
- Submit a down payment (typically 10%) to be held in escrow
Once the seller countersigns, the deal becomes legally binding.
Step 5: Apply for Your Mortgage
Now under contract, submit your full loan application. Your lender will order an appraisal, while your attorney:
- Orders and reviews the title report
- Begins identifying any legal or title issues
Step 6: Clear Title & Obtain Loan Commitment
During this time, your attorney clears the title and ensures no legal issues (e.g., liens or violations) will affect your ownership. Your lender will issue a loan commitment once underwriting is complete.
Step 7: Schedule the Closing
Once your loan is “clear to close,” your attorney will coordinate with all parties to schedule your closing and provide final figures. You’ll also receive your Closing Disclosure listing all costs and funds needed for closing day.
Step 8: Closing Day
On the day of closing, your attorney will:
- Review and explain all documents
- Ensure your funds are correctly transferred
- Oversee legal transfer of the deed and title
Once complete, you’ll receive the keys—welcome home!
Why You Need a Real Estate Attorney in New York
In New York, attorneys are required to close residential transactions. But beyond the legal requirement, a great attorney will:
- Identify red flags early
- Ensure the contract protects you
- Communicate with your lender, agent, and title company
Ready to Buy a Home in Queens or NYC?
If you’re buying a home in New York City, especially Queens, my office is here to help. We’ll guide you through the entire process, from offer to closing, with confidence and clarity.
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