Legal Issues During Home Sale and Purchase Process in Fairfield County

Metro New York Residential Real Estate Lawyers

When you are seeking to buy a new home or to sell a home, you will need to consider many factors. Prospective buyers may be concerned about the home's location and neighborhood, recent updates to the home, and whether the home has the amenities they need. Sellers, by comparison, are often focused on appraisals, inspections, necessary repairs, and, of course, the sale price.

At Ivey, Barnum & O'Mara, LLC, our attorneys appreciate concerns such as these, but we know that there are many other issues that could arise during the transaction as well—issues that are best handled by qualified legal professionals. The lawyers at our firm have more than 65 years of combined legal experience, and we are equipped to help buyers and sellers navigate the purchase or sale of a home from start to finish.

Purchase Contract Attorneys in Greenwich

In any residential real estate transaction, the purchase contract—sometimes called the purchase agreement—is the most critical document in the entire process. While you may be able to use standardized forms, even pre-printed forms contain dense language and confusing legal terminology. Our lawyers will help you to understand the contract and to make any necessary additions or changes to meet your needs as a buyer or a seller. Your purchase agreement could address a wide variety of issues, including but not limited to:

• Additions to or alterations of the property since it was built;
• The buyer's plans for making changes to the property;
• Contingencies for concerns such as lead-based paint, asbestos, or termites;
• Instructions for holding a down payment until closing; and
• Any other conditions that could cancel the transaction.

Title Considerations

Once the purchase agreement is in order, the next step is to determine the state of the title to the property. This is done through a title search, and the results of the search should be reviewed by an attorney who is familiar with residential real estate title issues. At Ivey, Barnum & O'Mara, LLC, our lawyers can help you identify and address any concerns regarding the title, including liens, easements, restrictions, and any other problems that could affect the sale.

Connecticut Closing Attorneys

A residential real estate transaction is not complete until closing. Prior to closing, the deed and other documents must be prepared. At the closing, a closing statement is made available to both the buyer and seller indicating the costs that each party is covering. The title transfers to the buyer from the seller, and the buyer provides full payment—usually with money secured by a mortgage. It is important for each party to have a lawyer present to ensure that everyone understands the terms of the sale and that all of the documents are signed and executed properly. An attorney can also help to address any last-minute questions or disputes that may arise.

Contact Us for Help

In most cases, a seller will utilize a real estate broker to help facilitate a sale, while the buyer will work with a mortgage lender to get the money to buy the property. Neither a broker nor a lender can provide legal advice. Therefore, it is important to be sure that your rights and best interests are fully protected by consulting a real estate lawyer.

For more information about our firm and how we can help you, contact our office. Call 203-661-6000 for a confidential consultation with a member of our team today. Ivey, Barnum & O'Mara, LLC serves clients in Fairfield County, Westchester County, Greenwich, White Plains, and the rest of the Metro New York area.