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Category Archives: Real Estate Closings

In the News: NJ has the Highest Foreclosure Rate in the Nation

In the News: Did you know that New Jersey has claimed the infamous honor of being the leader of the nation in foreclosures more than once in recent years? Some say it was largely because foreclosures in New Jersey take longer to play out and they point to signs that the situation in the state are improving.

The New Jersey Foreclosure Situation:

  • Close to 70,000
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In the News: $21M Lawsuit Filed in New York Alleging Illegal Renting of Apartments Through Airbnb

In the News: Did you know that the city of New York is suing a real estate brokerage firm, Metropolitan Property Group? Apparently, the group was running an illegal network of Airbnb rentals including 130 apartments in 35 different Manhattan buildings. 13,691 Airbnb rentals were facilitated by the brokerage that housed 75,000 guests and brought in close to $21 million from 2015 through 2018.

The …

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Legal Issues Your Real Estate Agency May Overlook

In some states, you cannot purchase or sell a home unless there is a real estate attorney present. Yet many who live in states that do not require the presence of a real estate attorney still rely on them during real estate transactions. Why is that? Why do buyers and sellers who are not required to use the services of a real estate attorney bother …

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Common Legal Issues that Can Stop a Real Estate Deal in its Tracks

There aren’t many things more frustrating than discovering a title issue when you’re ready to close on a property. This is particularly true because title issues are accountable for some of the most common legal issues that can cause an abrupt halt to a real estate deal.

Real estate title issues come in a wide variety of shapes and sizes. Some are more serious …

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Do You Need a Real Estate Attorney to Close a Deal in New York?

Of course, you can legally purchase a property without a lawyer. It is within your legal rights, but it is risky and unusual for a New York real estate deal to move forward without the buyer working with an experienced real estate attorney. In fact, 99% of real estate transactions in the state have attorneys involved representing both the buyer and the seller. If …

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When Should Property Owners Consider a Partition Action?

In order to legally partition a property, you must bring a proceeding in court that forces the physical division or sale of the property and divides the proceeds of the sale between the joint owners. In some instances, it can be an absolute right of a co-owner to partition jointly held property, but in other cases it is contingent on a number of factors.

Do …

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Issues to Consider Before You Sign a Commercial Lease

When you discover the perfect commercial location, the need to act fast can result in hasty decisions with lasting repercussions. If you’re ready to sign a commercial real estate lease for a retail space, office building or other commercial property, take a few minutes to consider the items on this list before you put pen to paper. After you sign the commercial lease, it’s too …

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Avoiding Common Title Problems

When you purchase a home, it is often life changing. It’s one of the most significant decisions most people make in their lifetimes (both financially and emotionally). Make sure that you are protected when you take the momentous step towards homeownership by avoiding common title problems that many experience during the home buying process.

5 Common Title Problems During the Home Buying Process:

  1. Unpaid Liens:
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Common Legal Issues to Avoid During Real Estate Negotiation

As real estate transactions frequently involve a significant amount of money, they tend to be the most, or one of the most, expensive transactions most individuals enter into during their lifetime. It’s not uncommon for problems and disputes to occur during the process. These problems frequently have the potential to make the entire deal fall through. It’s helpful to be aware of the most common …

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Disclaimers to Watch for in New York Real Estate Deals

Experienced real estate attorneys oversee the legal process and documentation that is involved when buying or selling a piece of property. Their oversight is to ensure that the interests and rights of their client are preserved. One way in which a real estate attorney protects the rights of a buyer is to watch for specific disclaimers.

In a 1959 Court of Appeals opinion on Dannon …

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