As anybody interested in Staten Island real estate will probably have heard, the market in our borough is extremely attractive right now. Specific news about the New York Observational Wheel and neighborhood development projects such as those in Tompkinsville and Stapleton to a more general desire for suburban living in New York City has made buyers turn an eye toward the Staten Island. As a result, this year many sellers have been receiving offers at their asking prices or even better. And my Staten Island law firm has received many inquiries on the subject.
Below are my primary tips for sellers:
1. Surround yourself with the right group of professionals
Find a good realtor in Staten Island to help you find and negotiate a deal with the property in mind. Find an experienced Staten Island attorney to explain your legal rights and obligations and to go over your transaction costs. Also, hire a contractor for any repairs that may be necessary. Your realtor should assist you with finding the right professionals. If you don’t have a realtor in mind, don’t hesitate to ask me for a referral (or visit the Staten Island Board of Realtors).
2. Start packing early
I never recommend remaining in possession of your home after closing. Try to avoid it! Start the long process of packing early so that you can give the buyers the keys at the table and avoid possible liability or headaches later.
3. Know the real estate market in Staten Island before you settle on an “asking price.”
Discuss the value and the local market with your realtor. This is your home, and you want to ensure you get full value when you sell.
4. Let your real estate attorney know of any possible problems that may arise
If you receive a notice of a violation, a judgment, or lien, you need to inform your real estate attorney right away. The buyers will do a title search, and it will disclose this issue. Don’t sit on these things and hope that they will magically disappear. Let your real estate attorney know up front so that all the legwork can be completed in time to not cause a delay in closing.
References
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This Information, based on New York law, was provided courtesy of The Law Office of Christopher J. Arrigali, P.C. It is intended to inform, not to advise. No one should try to interpret or apply any law without the assistance of legal counsel.
