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Ask Thomas Swartz Your Own Question
Thomas Swartz
Thomas Swartz, Lawyer
Category: Real Estate Law
Satisfied Customers: 3176
Experience:  Twenty one years experience as a lawyer in New York and New Jersey. Former Appellate Law Clerk.
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I have found a condo apartment in NYC without the help of a

Customer Question

I have found a condo apartment in NYC without the help of a broker. It is a new condo with its own director of sales, who is the building's broker. Do I really need a broker, and is it wise simply to proceed with a real-estate lawyer in the state of New York?
JA: Because real estate law varies from place to place, can you tell me what state this is in?
Customer: New York State
JA: Has any paperwork been filed?
Customer: No.. I have made a monetary offer and asked for certain concessions such as the mansion and transfer fees.
JA: Anything else you want the lawyer to know before I connect you?
Customer: No
Submitted: 9 months ago.
Category: Real Estate Law
Expert:  Thomas Swartz replied 9 months ago.

Hello JACUSTOMER,

There is no reason to have a broker if you have already found a condo you want. The role of a broker is to screen and find properties you are interested in. But if you have already found a property you are interested in and are ready to move to the offer and contract stage, there is no reason to have a broker. A local real estate attorney is however essential, as the attorney will help negotiate all the terms of the sale (including the concessions you are interested in), and insure that the sale proceeds to closing, and there is a proper recording of your deed. The attorney will also insure that you obtain all the necessary condominium documents (declarations, bylaws, and financial statements) and review them to make sure the condo is in a stable condition, and there are no surprises in terms of condo fees or special assessments. So, I would move ahead and simply retain a real estate attorney at this point if you have already made an offer.

Thomas

Customer: replied 9 months ago.
much thanks! Exactly what I wanted to hear.
Expert:  Thomas Swartz replied 9 months ago.

Good luck.

Thomas