Who typically conducts the closing in a New York residential real estate transaction?
Correct Answer
D) An attorney representing one of the parties
In New York, closings are typically conducted by attorneys, usually the attorney representing the buyer or seller. This is part of the traditional role that attorneys play in New York real estate transactions.
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A buyer's agent in New York receives a contract addendum from the seller's attorney that contains complex legal language about easement rights. The buyer asks the agent to explain what this means for their use of the property. What is the agent's best response?
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A real estate agent in New York is working with a first-time homebuyer who wants to save money by not hiring an attorney. The agent knows this could create problems later. What should the agent do?