1. Which Ownership Issues Need Resolution before Closing?
Loan approval does not establish that the seller can deliver the title promised in the contract. Compare the title report, seller’s authority, and permitted exceptions before authorizing payment.
Seller Authority and Outstanding Liens
Confirm that the parties signing the deed have authority to transfer the property. Joint ownership, estates, trusts, and entities may require additional signatures or supporting documents.
For an existing mortgage, obtain a current payoff statement and assign responsibility for recording the satisfaction. Other liens need separate review because paying the mortgage does not necessarily clear them.
Easements and Boundary Issues
An easement may allow shared driveway access, while a survey may reveal an encroachment. Compare these findings with the contract’s permitted exceptions and the buyer’s intended use.
In a property transaction, accepting a restriction and obtaining insurance against a title risk are separate decisions. Title insurance does not cover every restriction or defect.
2. Do Building Records and Possession Terms Match the Deal?
Ownership does not establish lawful use or a right to immediate possession. Check building records and occupancy arrangements before assuming the property can serve its intended purpose.
Certificates of Occupancy and Alterations
Compare the actual layout with NYC Department of Buildings records, including additional apartments and converted basements. Review available records through DOB NOW and the Buildings Information System.
Buildings constructed before 1938 may not require a Certificate of Occupancy unless later alterations changed use, egress, or occupancy. A Letter of No Objection may help confirm lawful use where applicable. A missing CO alone does not establish illegality.
Open permits and violations require individual review. Their effect on closing depends on the contract, lender requirements, and the underlying condition.
Tenants and Vacant Possession
Review leases, rent records, deposits, and any promise of vacant possession. A sale alone does not terminate tenant rights or authorize removal.
Where General Obligations Law §7-105 applies, the transferor generally must transfer security deposits and provide the prescribed notice at deed delivery or within five days afterward. Identify the amounts and responsible parties in the closing documents.
3. Where Are Documents Recorded and Tax Returns Filed?
Richmond County uses a different land-recording route from the other four boroughs. NYC transfer-tax reporting still involves ACRIS, so recording and tax filing require separate attention.
Richmond County Clerk Recording
The Richmond County Clerk maintains local land records. Before submission, check the property description, borough-block-lot information, signatures, acknowledgments, and required supporting materials.
A deed transfer and recording have distinct legal functions. Real Property Law §291 addresses priority against certain later good-faith purchasers who record first. Recording does not itself establish the validity of the underlying transfer.
Tax Returns and Closing Charges
NYC requires electronic RPTT returns through ACRIS for Staten Island transfers. Official procedures also require paper filing, generally with the Richmond County Clerk when recording the deed.
State transfer-tax forms, applicable mortgage recording taxes, and recording fees are separate items. The closing statement should identify each charge, its payer, and any claimed exemption.
4. What If a Problem Remains Near Closing?
The contract and unresolved condition determine whether the parties should correct the problem, extend the date, or consider another agreement. Record the responsible party, required work, and evidence of completion in writing.
Extensions and Escrow Holdbacks
A written extension should address the new date and affected deadlines. An escrow agreement should specify the amount held, permitted uses, release conditions, and dispute procedure.
A holdback does not legalize an unauthorized apartment or satisfy a lender automatically. Some conditions require correction before closing.
| Issue | Document to Check | Decision Needed |
|---|---|---|
| Existing mortgage | Payoff statement | Payment and satisfaction arrangements |
| Occupancy discrepancy | CO and alteration records | Correction or agency review |
| Occupant remains | Contract and occupancy agreement | Extension or possession terms |
Existing mortgage
- Document to CheckPayoff statement
- Decision NeededPayment and satisfaction arrangements
Occupancy discrepancy
- Document to CheckCO and alteration records
- Decision NeededCorrection or agency review
Occupant remains
- Document to CheckContract and occupancy agreement
- Decision NeededExtension or possession terms
Default and Dispute Procedures
Missing a scheduled date does not automatically permit cancellation or forfeiture of the deposit. Review notice requirements, cure provisions, and any effective time-of-the-essence requirement before declaring default.
Title and specific-performance claims may proceed in Richmond County Supreme Court, subject to jurisdiction and venue rules. Civil cases generally use NYSCEF, with applicable exemptions; landlord-tenant possession proceedings follow a separate Civil Court route.
5. Frequently Asked Questions
Loan changes and signing arrangements can affect the closing schedule. Confirm the requirements for the particular transaction before committing to a date.
Not every correction does. For covered mortgage loans, federal rules generally require receipt of the Closing Disclosure three business days before consummation.
A new waiting period applies to specified changes, including an APR that becomes inaccurate under the regulation, a changed loan product, or an added prepayment penalty.
Separate signing arrangements may be possible. Confirm lender and title-insurer requirements, acceptable acknowledgments, document delivery, and any power of attorney before arranging an absent-party closing.
6. Resolve Outstanding Terms before Authorizing Closing
Bring the contract, title report, building records, and proposed closing statement to your attorney. Ask which unresolved items affect financing, title, lawful use, or possession, and what must happen before payment. Assign responsibility for submitting documents and obtaining proof of deed recording.
21 Oct, 2026
