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The Mystic Wave
The Mystic Wave, Paralegal
Category: Legal
Satisfied Customers: 427
Experience:  30 yrs. exp. in the legal profession. Specializing in Personal Injury, Criminal, Civil & more.
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selling a residence in NEW York State.

Customer Question

I live in NY state, I would like to sell a home that needs a lot of renovation. I have a buyer, but I would like to curtail costs by selling by owner. Do I have to have a lawyer, how do I get a surveyor, if needed, do I need to devise a contract, I need to know everything, I'm ignorant to all, it's new to me.
I am offering $5 dollars, but will pay more if everything pans out. I guess you'll have to trust that I am trustworthy. I'm selling my home to a single mom w/3 kids who's in dire need of home. I know we could fix up and get quite a bit in the 1,000 Islands, but some things are more important. Thank you!
Submitted: 11 years ago.
Category: Legal
Expert:  Steve -- a.k.a. Oreport replied 11 years ago.


For a surveyor, look in the Yellow Pages under 'Surveyors-Land'



Since you are 'ignorant to all' concerning the process, I recommend that you
look into using a 'For Sale By Owner' company. There are a few different
ones. They operate on a flat fee or flat percentage and are less
expensive than going the Real Estate Agent route. Here is an example.



I strongly recommend against drawing up your own contract. There may be
standard ones available.



I recommend having a lawyer at closing -- or at a minimum, have one review the
paperwork prior to closing.


Let me know if you need more input. If not,
thanks for the opportunity to assist you... I would really appreciate
your honoring my efforts by 'pushing the button' and Accepting this
answer. Adding a bonus -- should you wish to do so -- is always
warmly welcomed.


Good Luck!


Steve













Customer: replied 11 years ago.
Reply to Oreport's Post: Thank you for replying so quickly, but your answer wasn't of much help. I've already researched the example site you'd enclosed, and many more. I did not feel they were relevant, considering, I already have a buyer. I figured I'd need a lawyer, I guess I was looking for an alternate route.
Thanks again for trying to assist me.
Sincerely,
Shirl
Expert:  The Mystic Wave replied 11 years ago.

Greetings Shirl:


You don't have to have a lawyer - you can seek a paralegal's office to help you draw up any forms which will save you a considerable amount of money - however, I always advise to seek "legal" counsel beforehand so one is fully aware of their legal rights.


Concerning a surveyor, you can contact the Department of Building and Safety, they can direct you accordingly.


As far as the sale itself is concerned, it is important that there is nothing wrong with the interior/exterior whereby damage/injuries can possibly be sustained by the new owner - as you can be held liable and sued for same. It is important to list everything that may be wrong with the property - and have the new owner acknowledge same (by signing and agreeing that she will not hold you responsible). You also need to make sure that everything is transferred properly into the new owner's name (having documents recorded - and such)- that there are no liens on property. The paralegal's office can assist you in this matter.


If you are seeking other information which I have not addressed herein, please let me know.


Please take care.


Bright Blessings.


Peace, Love & Happiness,


The Mystic Wave

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