Will real estate attorney be responsible for any issues in a coop closing?

Asked over 1 year ago - New York, NY

I'm currently purchasing a co-op in manhattan. So I'm now looking for an attorney to close the transaction. Just wondering will the attorney be responsible if there is any issues after the closing?

Attorney answers (3)

  1. 2

    Lawyers agree

    Answered . Dear New York Purchaser:

    Make sure you have your attorney on board to negotiate your contract. A contract negotiated with your needs in mind, will go toward experiencing a smooth closing.

    But long before you are ready to close, your attorney will need to deal with any issues developed by the judgment and lien search, will need to review the financials and minutes of the cooperative (usually at the office of the managing agent) and report back to you about the status of the cooperative's finances, and the workings of the Board, review your Board package with you, because unless the Board agrees to the transfer, you will not have a closing.

    So hire your attorney at the very start of the process.

    Good luck.

    The answer provided to you is in the nature of general information. The general proposition being that you should... more
  2. 1

    Lawyer agrees

    Answered . Consult with a coop and condo lawyer. The lawyer will review the contract, title report, etc. and represent you.

    I am a former federal and State prosecutor and have been doing criminal defense work for over 16 years. I was... more
  3. 1

    Lawyer agrees

    Answered . Depends on the issue. All issues are supposed to be resolved pre-closing. That is the purpose of the contract, title report, and inspection of the co-op.

    Consult with a real estate attorney regarding your specific issue. Best of luck.

    My direct line: 646-606-6002. www.thefalkowskifirm.com. If this answer is helpful and/or the best answer, then... more

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Real estate

The term real estate means land and items permanently attached to it, like buildings. This area of law deals with who has the right to own and use these items.

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