New York Real Estate Attorneys
Working Closely with Clients on High Stakes Issues
The buying and selling of property, whether a primary residence, vacation home, or investment property, is one of the largest financial commitments most individuals will ever make and can be one of the most stressful projects a buyer or seller can undertake. Having our New York real estate attorneys on your side can make all the difference when it comes to securing a fair deal and avoiding potential disputes. Chianese & Reilly Law offer transparent communication from the beginning of your case until the end and makes sure you understand all the aspects of your complex real estate issue.
Call us today at 516-614-6516 or fill out our online form so we can learn more about your case. We offer our services in both English and Spanish.
Real Estate FAQs
Do I Need an Attorney to Buy or Sell a House?
Your attorney will be the only one looking to protect your interest. Once an owner decides to sell a property, he or she generally lists the property with a real estate broker. The broker usually represents the seller and has an interest in making sure the sale goes through. The attorney only has the interest of their client to look out for if the deal is not a good one for the client the attorney will voice that opinion. You may think the contract is clear and easy to understand, but it may contain provisions that are unenforceable or that create more liability than you realize. Litigating your rights after the fact can take years and cost thousands in legal fees.
My House Was Sold at Foreclosure for More Than I Owed – What Happens?
If you lost your home to foreclosure, there may be money in the Court with your name on it.
What is Surplus Money?
When a house is sold through foreclosure, it is sold to the highest bidder at public auction. If it sells for more than you owe the foreclosing bank, there may be money left over after the bank is paid. This surplus money belongs to you, the homeowner, with some exceptions.
Within five days of the sale, the referee (i.e., the Court appointed attorney who sold the property) must submit the remaining money to the Court. However, no one will send this money to you without your asking. You must act, or you will receive nothing. If you want to get your surplus money, you will have to start a Surplus Money Proceeding.
The aim of the proceeding is to determine who has the right to the money. There are some creditors who may have competing claims to the surplus. It can take any time from a few months to several months, depending on the complexity of the case.
Don’t wait to handle your real estate matter so you can move on with your life. Call our real estate attorneys in New York to schedule a same-day appointment today at 516-614-6516.