Buffalo Residential Real Estate Lawyers

Buying or selling a home is one of the biggest financial decisions you’ll ever make, and it’s also one of the most legally involved. Every signature, disclosure, and closing document carries weight, and even small mistakes can have serious consequences later. Here at Raimondo & Sundquist, LLP, our seasoned Buffalo real estate lawyers have extensive experience guiding clients through residential real estate transactions, and we’re here to put that experience to work for you. Contact us today so we can get started.

Residential Real Estate Lawyers Representing Buyers & Sellers

Here at Raimondo & Sundquist, LLP, we represent both buyers and sellers in residential real estate transactions throughout Western New York. We handle everything from simple single-family purchases to complex multi-family transfers.

If you’re buying, we protect your interests from day one. We review contracts, clear titles, handle negotiations, and coordinate the closing.

If you’re selling, we ensure that your transaction moves smoothly. We draft contracts, respond to buyer requests, address inspection concerns, and ensure that every legal obligation, like disclosure and transfer taxes, is met before closing.

What is Considered “Residential Real Estate” in New York?

Residential real estate is a legal classification that covers single-family homes, condominiums, cooperative apartments (commonly called co-ops), townhomes, and even certain multi-family dwellings that have up to four residential units. Anything beyond that typically crosses into commercial territory. That distinction may sound technical, but it matters. It affects the contracts you’ll sign, the taxes you’ll pay, and the laws that protect you.

Residential real estate falls under a set of state-specific statutes and disclosure requirements that don’t apply to commercial properties. For instance, the Property Conditions Disclosure Act requires sellers of residential property to disclose known defects or risks, giving the buyer a credit at closing. That means if you’re selling, you can’t simply “hope for the best” and keep quiet about the leaky basement; you have to disclose it. And if you’re buying, you’re entitled to full transparency about what you’re walking into.

The Process of Purchasing Residential Real Estate in New York

Buying a home is not as simple as shaking hands and passing a check. The process is involved and document-heavy, but a brief overview is as follows:

1. The Offer and Acceptance: It starts with the offer. You’ve found the place, you’ve crunched the numbers, and you’ve decided to go for it. You make your offer through your agent. The seller either accepts, rejects, or counters. Once you both agree, it’s time to get the attorneys involved because nothing is binding until a written contract is signed by both parties.
2. Attorney Review and Contract Drafting: The seller’s attorney prepares the contract of sale, and then your attorney reviews it line by line. Your lawyer will negotiate key terms like contingencies for inspection, financing, or appraisal, ensuring you’re not locked into a deal that could go sideways later.
3. Inspection and Due Diligence: Before signing, you’ll have the home inspected by a licensed professional. This is where to surprises, such as roof leaks or foundation cracks, tend to surface. Depending on the results, you can renegotiate, request repairs, or even walk away entirely.
4. Contract Signing and Deposit: Once both sides are satisfied, the contract gets signed, and the buyer typically puts down a deposit (usually around 10% of the purchase price). The moment both signatures are in place, the deal becomes legally binding.
5. Title Search and Mortgage Approval: Your attorney will then order a title search to confirm that the property is free from liens or ownership disputes. If you’re financing, your lender will also run an appraisal and issue a commitment letter once the loan is approved.
6. Preparing for Closing: This phase is where the paperwork builds. Your attorney ensures that the title is clean, coordinates with the lender, and schedules the closing. Any outstanding issues, such as old mortgages, unpaid taxes, or recording discrepancies, must be resolved before final settlement.
7. Closing the Deal: One closing day, the keys finally change hands. You’ll sign the final documents, exchange funds, and officially take ownership.

Closing Costs and Fees in NYS

Closing costs catch a lot of people off guard, but they’re a part of every transaction. Closing costs are the final hurdle before you can call the place yours (or officially hand over the keys).

For buyers, you should expect to pay for title insurance, lender fees, appraisal costs, and attorney’s fees. You’ll also cover recording fees, mortgage taxes (if applicable), and escrow deposits for property taxes and insurance.

For sellers, you’ll typically have to cover the real estate broker commission, transfer taxes, your attorney’s fee, and any outstanding liens or mortgages.

Contact Our Erie County Real Estate Attorneys

Here at Raimondo & Sundquist, LLP, our Buffalo real estate lawyers have guided countless clients through the residential real estate process for decades. If you’re ready to move forward, contact us today to schedule a consultation.