Now that you have finally found the house of your choice, you need to consult an attorney of your subsequent actions. If you have found your house through a real estate broker, give your broker your attorney's information, including his phone and fax numbers. If you were dealing with the seller drectly, give this information to the sller who will in turn notify his/her attorney before the contract is prepared.

CONTACT AN ATTORNEY FIRST! DO NOT SIGN ANY DOCUMENTS BEFORE YOU SPEAK TO YOUR LAWYER!!!

The most important document requlating the rights and obligations of the parties to a real estate transaction is a Contract of Sale. The contract is prepared by the seller's attorney and then forwarded to the attorney representing purchaser. All pertinent issues (delivery of title, price terms, mortgage contingency, duties of the parties, closing terms, etc.) are spelled out in the contract of sale. Upon full execution of the contract by both parties, it is the purchaser's attorney responsibility to make sure that the title to the property is clear of any possible judgments, liens, violations and other encumbrances. Upon receipt of a fully signed contract, the purchaser should contact the prospective lender or the mortgage broker to apply for a mortgage (provided that the purchaser does not pay a full price).

The purchaser's attorney works closely with the lender's and the seller's attorneys to bring that matter to a closing. The closing is a logical ending of the entire real estate transaction. If the contract is properly prepared, reviewed and adhered to, then the closing may seem far less stressful than the initial execution of the contract by the purchaser. There may be many particular questions about the mortgage contingency terms; the escrow terms for keeping the contract deposit; numerous issues of title, unpaid taxes, outstanding violations, liens; survey and land use issues; tenancies; all these and many other related topics are covered while in close contact with your attorney.

Real estate has been an important area of practice for the Law Offices of Ilya E. Parnas since the firm's founding. We assist our clients in intricate aspects of sale or purchase of real estate.Our office resolves numerous issues of title clearance, related taxation and finance matters in order to facilitate a smooth real estate transaction.

We conduct and personally attend real estate closings in all five boroughs of New York City, including Westchester, Rockland, Nassau and Suffolk counties.