How Does a Real Estate Lawyer Assist With a Condo Sale?

Generally, a Real Estate Lawyer Will Provide Contract Review, Title Search, Financial Due Diligence, Document Preparation, Mortgage Assistance, Closing Representation, Among Other Things, As Services Within a Condominium Transaction.


Understanding the Unique Concerns Relating to Condominium Transactions Requiring Due Diligence

In the realm of condominium acquisitions, expert legal guidance is invaluable. Joseph Lo Greco offers a range of real estate legal services to secure your investment and ensure a smooth and legally compliant path through the intricacies of condominium law concerns.

Services

Generally, a real estate lawyer serving a client purchasing a condominium unit performs several critical tasks, including:

Contract Review: The thorough review of the relevant purchase agreement to ensuring that the terms are fair and in the best interest of the client.

Title Search: The conducting of a title search to confirm the ownership of the property, to uncover any liens or encumbrances, and to ensure a clear title.

Due Diligence: The assessment of the financial health of the condominium corporation, the review of the condominium corporation bylaws, financial statements, and any lawsuits pending against the condominium corporation.

Document Preparation: The preparation and review of legal documents such as the purchase agreement and disclosures to ensure compliance with local laws.

Mortgage Assistance: The assistance in securing mortgage financing, reviewing mortgage terms, and explaining the implications of any mortgage concerns to the client.

Money In Trust Holding: The oversight of deposits and payments to ensure funds are held securely until the transaction is complete.

Closing Representation: The representation of the client during the closing process by reviewing all finalizing documents to ensure a smooth and legal transfer of ownership.

Dispute Resolution: The counselling and legal guidance in disputes with the seller or condo corporation if such should arise.

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