Results 1 to 3 of 3
  1. #1
    Join Date
    Apr 2010
    Posts
    2

    Default Cash Purchase of Real Estate

    My question involves real estate located in the State of: New York

    Hi everyone.

    I am in the process of buying the house in Upstate New York where I am already living as a renter. The sale is all going through according to plan, contracts signed, closing next month. My question: in addition to the main property, I am purchasing (from the same people) a field adjoining the main property, for $6k cash. The plan calls for a combination of a downpayment, + rollover of my rental deposit, + a final payment. My lawyer (on the main deal) told me that she did not foresee the necessity for hiring her again on this side deal. she just advised me to get as much as possible in writing (of course). i had assumed that i would be able to purchase some NoloPress documents (or such like) but I'm having trouble figuring out what docs i should get. the lawyer did say that if i did want her to do it, it would be less than $100, so I may just go that way and be done with it, but i wondered if anyone here could give me any ideas?

    thanks!

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Cash Purchase of Real Estate

    For <$100, I would personally have the lawyer draft up the documents. That should ensure that they are in proper form and ready for filing, and that typos, clerical errors, etc., won't slow down closing. In many jurisdicitons, something as seemingly minor as margin size can cause a draft deed to be rejected.

  3. #3
    Join Date
    Apr 2010
    Posts
    2

    Default Re: Cash Purchase of Real Estate

    Quote Quoting Mr. Knowitall
    View Post
    For <$100, I would personally have the lawyer draft up the documents. That should ensure that they are in proper form and ready for filing, and that typos, clerical errors, etc., won't slow down closing. In many jurisdicitons, something as seemingly minor as margin size can cause a draft deed to be rejected.
    Hi Mr. K -

    Sorry, i thought I'd set up this site to inform me via email when someone replied to my thread, i guess i did it wrong. Anyway, thanks for your input - I think you are right. I'm going to spend a little money for ease of mind

    Thanks!

    Malcolm

    1. Sponsored Links
       

Similar Threads

  1. Foreclosure: Purchase Money First / Cash-Out Second (Same Lender)
    By clearance4flyby in forum Buying, Selling and Conveying Real Estate
    Replies: 1
    Last Post: 03-09-2010, 08:11 AM
  2. Purchase Contracts: Assignment of Real Estate Purchase and Sales Agreement
    By AJJ in forum Buying, Selling and Conveying Real Estate
    Replies: 2
    Last Post: 02-18-2010, 11:02 AM
  3. California Real Estate Purchase Contracts
    By M.C.Crockett in forum Buying, Selling and Conveying Real Estate
    Replies: 1
    Last Post: 08-10-2008, 10:30 PM
  4. Real Estate Purchase Via The Internet
    By jeh in forum Buying, Selling and Conveying Real Estate
    Replies: 1
    Last Post: 04-04-2008, 07:43 AM
  5. Purchase Contracts: Assignment of Contracts for the Purchase or Sale of Real Estate
    By somedeity in forum Buying, Selling and Conveying Real Estate
    Replies: 3
    Last Post: 08-29-2006, 08:06 AM
 
 
Sponsored Links

Legal Help, Information and Resources