What Legal Issues Commonly Arise in Residential Real Estate Transactions?

Purchasing or selling residential property in New York involves more than just signing a contract and handing over the keys. Every transaction has potential issues that need to be addressed to protect your rights and financial interests. A dependable residential real estate lawyer in Long Island, can help you understand the legal issues that commonly arise in residential real estate transactions. With the right guidance, you can approach your deal with clarity and confidence.

From a Residential Real Estate Lawyer in Long Island: Common Issues in Residential Real Estate Transactions

Title Defects and Ownership Disputes

A clear title is one of the most important components of a valid real estate transaction. If there are defects in the title, such as outstanding liens, unresolved ownership claims, or recorded easements, you may face serious legal and financial risks. Title insurance can help mitigate some of these risks, but it does not resolve ownership disputes themselves.

We assist you by conducting thorough title searches to uncover any problems before closing. If issues appear, we help you resolve them through negotiation, legal filings, or litigation when necessary. This ensures that you take ownership of a property free from hidden legal entanglements.

Issues With Property Disclosures

Under New York law, sellers must provide buyers with accurate and complete disclosures regarding the condition of the property. Common issues involve unpermitted renovations, lead paint, mold, structural problems, or drainage issues.

If you purchase a home and later discover material defects that the seller failed to disclose, you may have legal options available to you. We help you determine whether a seller misrepresented or failed to disclose important facts and advise you on possible courses of action under New York law.

Contractual Disputes and Contingencies

Residential real estate contracts in New York typically include contingencies for inspections, financing, and appraisals. Disputes often arise if either party attempts to back out of the deal or fails to meet contractual deadlines. Disagreements can also occur if inspection reports reveal defects or if the appraisal comes in lower than the purchase price.

We review your contract in detail and advise you on your obligations and rights under its terms. If a dispute develops, we advocate for your interests and work to resolve the matter through negotiation or litigation if necessary.

Problems With Property Boundaries

Boundary disputes in Long Island, can surface during residential transactions, particularly in older neighborhoods where property lines may not have been well defined. A discrepancy between the survey and the deed or the discovery of encroachments can cause delays or even derail the sale.

We coordinate with surveyors and title companies to clarify boundary lines and address encroachments before they become legal problems. If a dispute escalates, we represent you in asserting or defending your property rights.

Legal issues in New York residential real estate transactions can cause serious delays, unexpected costs, and future legal complexities. By understanding the risks and working with experienced counsel, you can protect your investment and ensure a smooth transaction. Schedule a consultation with us today at Chiariello & Chiariello to receive the legal advice you need to move forward with confidence. 

Posted in Uncategorized | No Comments »