Do I need an attorney to buy or sell a home?

In New York State, it is customary for both the seller and purchaser to have their own attorney in a real estate transaction. The responsibilities of the seller’s attorney include to prepare and negotiate the terms of a real estate contract, prepare seller transfer documents, address title issues and existing liens, prepare a closing statement and represent the seller at the closing. The purchaser’s attorney will review and negotiate the terms of the seller’s contract, order a title search and title insurance, review title matters (including easements, restrictions and rights-of-way), review assessment and property tax figures, discuss the option of obtaining a new property survey, coordinate a closing with the mortgage company’s attorney, prepare a closing statement and represent the purchaser at the closing.