How a Real Estate Lawyer Helps Home Buyers in Nassau County

Compare the required loan amount and commitment date with the lender's written conditions. Preapproval is not a final commitment, and a low appraisal does not automatically permit cancellation. Under New York law, a buyer relying on a mortgage contingency generally must make genuine, good-faith efforts to obtain financing. Whether a conditional commitment satisfies the contingency depends on the contract's wording.

For covered one-to-four-family properties, RPL § 462 requires a Property Condition Disclosure Statement before the buyer signs a binding contract. Condominium units and co-ops fall outside the statutory definition, while § 463 exempts certain transfers. The former $500 alternative no longer applies. The statement reflects the seller's actual knowledge, not a guarantee of the property's condition. Compare disclosures about water damage, drainage, and structural defects with inspection findings. An "as-is" clause may allocate repair responsibility, but it does not eliminate applicable statutory disclosure obligations.

Compare the title report with the deed and available survey. A shared driveway may involve an easement, boundary dispute, or informal arrangement. A survey shows physical boundaries and improvements but does not independently establish legal access rights. An owner's title insurance policy addresses covered title risks, subject to exclusions. A lender's policy protects the lender's interest rather than the buyer's ownership interest.

The Nassau County Clerk does not maintain private surveys, title reports, or certificates of occupancy. Request building and occupancy records from the municipality with jurisdiction. An enclosed porch or basement apartment may require further investigation if its actual use differs from approved plans. Identify outstanding violations and determine who must resolve them under the contract. Check property tax bills and exemptions separately. A seller's STAR exemption does not transfer to a new homeowner, although it may appear on the first tax bill. Eligible new owners generally must register for the STAR credit.

An inspection revealing roof damage does not necessarily require the seller to reduce the price. Buyers may propose repairs, credits, or written amendments, but the seller's obligations depend on the agreement and applicable law. An unresolved recorded lien raises a different question: whether the seller can deliver the title required by the contract. Any negotiated extension should identify the responsible party, required action, and completion date.

Before sending a cancellation notice, confirm:

• The contingency or default provision supporting the request.
• The deadline, recipient, and authorized delivery method.
• The lender denial, inspection report, or title objection supporting it.

Keep proof of delivery and records of financing efforts. A missed deadline or failure to comply with a contingency may undermine a deposit claim. If the parties dispute the deposit, the escrow holder may need joint instructions or a legal determination before releasing the funds.

For most covered mortgage loans, federal Regulation Z generally requires the consumer to receive the Closing Disclosure at least three business days before consummation. A new waiting period applies to certain changes involving the APR, loan product, or prepayment penalty. Compare the disclosure with the Loan Estimate, including seller credits and cash to close. New York Tax Law § 1402-a imposes an additional 1% transfer tax on qualifying residential conveyances of $1 million or more, ordinarily payable by the buyer. New York City-specific supplemental transfer taxes do not apply to property outside the city.

Verify the grantee names, legal description, payoff arrangements, and the date the buyer receives possession. Delivery and acceptance of a valid deed generally transfer title between the parties, while recording helps establish priority against certain competing claims. The real estate transfer process covers the broader closing sequence, including submission of the deed to the Nassau County Clerk.