New York City real estate lawyer Natalia A. Sishodia (https://sishodia.com/who-pays-real-estate-closing-costs-in-new-york/) of Sishodia PLLC has published a comprehensive article explaining the often intricate subject of real estate closing costs in the bustling city of New York. The article titled ‘Who Pays Real Estate Closing Costs in New York?’ provides valuable insights into the financial responsibilities of buyers and sellers during closing.
In her article, the New York City real estate lawyer explains the concept of closing costs, which are additional charges over and above the price of the real estate that are due at closing. Regardless of whether one is a buyer or a seller, closing costs are an unavoidable part of any real estate transaction. However, understanding these costs and being prepared for them can prevent unpleasant surprises.
“Whether one is a buyer or a seller, closing costs can either take a chunk out of the sales proceeds or significantly affect the purchasing power,” stated the New York City real estate lawyer. “In some cases, closing costs can be negotiated between a buyer and a seller, and it may be advantageous to explore those options if they’re available to the parties involved.”
The article explains that navigating the landscape of real estate closing costs in New York City can be daunting. But buyers and sellers don’t have to traverse this challenging landscape alone. Having a skilled lawyer by one’s side can ensure a smooth and well-informed closing process that safeguards their interests.
Sishodia goes into detail about the closing cost statement, the closing process, and the specific costs that both the buyer and seller are expected to pay in New York. She also delves into the disadvantages of the seller paying closing costs, which can include increased listing price, reduced room for negotiation, limited scope for upgrades or repairs, complicated documentation, and potential appraisal challenges.
The New York City real estate lawyer provides an in-depth understanding of real estate transactions, unraveling the complex process for the layperson. As she states, “When an individual is purchasing a piece of real estate in New York City, it is always advisable to seek the advice of a real estate attorney to ensure that everything is in order and to avoid paying for anything that is not their responsibility.”
Sishodia emphasizes the importance of understanding every detail of the closing cost process. It’s not only about knowing how much an individual will pay or who pays what, but also about comprehending how these costs can impact the final property price, their purchasing power, and their sales proceeds.
The article highlights the importance of having a real estate lawyer guide individuals through the transaction process. Real estate lawyers can help both buyers and sellers understand their contractual and financial obligations and ensure a smooth transaction with no surprises.
About Sishodia PLLC:
Sishodia PLLC is a New York-based law firm that provides comprehensive legal services in the area of real estate law. Led by Natalia A. Sishodia, the firm prides itself on its commitment to providing clients with well-informed advice, effective solutions, and personalized service. The team’s extensive understanding of the complexities of New York City’s real estate market, coupled with their dedication to protecting their clients’ legal rights, makes them a reliable partner in any real estate transaction.
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Company Name: Sishodia PLLC
Contact Person: Natalia A. Sishodia
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Phone: (833) 616-4646
Address:600 Third Avenue 2nd Floor, 600 3rd Ave Second Floor
City: New York
State: New York 10016
Country: United States