New York Residential Real Estate Sales Attorney

You’ve owned your home for years—maybe decades. You raised your family there, paid down or even paid off the mortgage, and watched the neighborhood change around you. Now it’s time to sell, and the process feels unfamiliar and high-stakes all at once. That’s a completely normal reaction. Selling a home in New York City involves legal obligations, tax implications, and negotiation dynamics that most homeowners encounter only once or twice in a lifetime. The right attorney makes the difference between a stressful ordeal and a transaction you can feel confident about.

At Gerard Law Firm, we represent sellers in residential real estate transactions across Brooklyn, Queens, Staten Island, the Bronx, and Manhattan, as well as Long Island and Westchester. From our office in Mill Basin Brooklyn, we’ve guided homeowners through every stage of the sale—drafting the contract, managing due diligence, negotiating repairs, coordinating with brokers and lenders, and sitting beside you at the closing table. Our clients are everyday New Yorkers selling the home they’ve lived in. We understand what’s at stake, and we treat your transaction accordingly.

Why Do Sellers Need Their Own Attorney When Selling a Home in New York?

In New York, the seller’s attorney drafts the contract of sale, holds the buyer’s down payment in escrow, responds to title and due diligence issues, coordinates the mortgage payoff with the seller’s lender, and represents the seller at the closing. Real estate brokers are prohibited from drafting contracts or providing legal advice under New York law, so your attorney is the only professional authorized to protect your legal interests.

Many first-time sellers assume their real estate agent handles everything. Your agent plays an important role—pricing the property, marketing it, and bringing offers—but the agent’s job ends where the legal work begins. The buyer will have their own attorney reviewing every detail and advocating aggressively on the buyer’s behalf. Without your own attorney doing the same, you’re negotiating at a disadvantage. Here’s what your seller’s attorney handles that your broker cannot:

• Drafting the contract of sale and the rider with terms specific to your property and situation
• Holding the buyer’s down payment in a secure escrow account until closing
• Responding to objections raised by the buyer’s attorney during title review and due diligence
• Negotiating inspection-related repair requests and closing credits on your behalf
• Requesting and verifying the mortgage payoff statement from your lender
• Preparing the deed, transfer tax returns, and all closing documents
• Reviewing the final closing statement to confirm every charge, credit, and disbursement is accurate
• Representing you at the closing table and explaining every document before you sign

What Goes Into the Contract of Sale and Who Drafts It?

In New York residential transactions, the seller’s attorney drafts the contract of sale. This document sets the purchase price, down payment amount, closing date, and every material term of the deal—including what happens if financing falls through, what condition the property must be in at closing, and which fixtures are included. A well-drafted contract protects the seller from buyer default and limits your exposure to unnecessary risk.

The contract starts with a standard form, but the real substance is in the rider, additional provisions your attorney attaches to address the specifics of your transaction. For a homeowner selling a property they’ve lived in for 20 or 30 years (whether it’s a colonial in Manhattan Beach, a two-family in Gravesend, or a semi-attached in Whitestone), the rider often addresses issues that newer homes don’t present:

• Pre-existing conditions the buyer has been made aware of during showings or inspections
• Items being excluded from the sale, such as appliances, light fixtures, or window treatments
• The handling of older systems like oil tanks, cast-iron plumbing, or original electrical panels
• Whether the property is being sold “as-is” or with specific representations about its condition
• Contingency deadlines for the buyer’s mortgage approval, giving you the right to cancel if the buyer can’t secure financing within a defined window

Once drafted, the contract goes to the buyer’s attorney for review. Expect a round of back-and-forth negotiation. Your attorney’s job is to distinguish between reasonable modifications and overreaching demands, push back where needed, and arrive at final language that reflects the deal you actually agreed to. At Gerard Law Firm, we never agree to material contract changes without your approval.

What Happens During the Buyer’s Due Diligence and How Does Your Attorney Respond?

After the contract is signed, the buyer’s attorney orders a title search and the buyer typically schedules a home inspection. As your attorney, we respond to title objections raised by the buyer’s side, work to clear any liens or encumbrances that could block the closing, and manage inspection negotiations so that reasonable requests are addressed without letting the buyer renegotiate the entire deal.

For long-time homeowners in neighborhoods with older housing stock—Midwood, Howard Beach, Astoria, Ridgewood—the title search sometimes turns up surprises. Common title issues that sellers don’t expect include:

• A satisfaction of mortgage from a prior refinance that was never recorded with the county clerk
• An old judgment from a creditor that attached to the property without the owner’s knowledge
• Estate complications if the property was inherited and the deed was never properly transferred
• Open building permits or violations on record with the NYC Department of Buildings
• Unpaid water, sewer, or property tax charges that create automatic liens against the property

None of these are necessarily deal-breakers, but they need to be resolved before closing. Your attorney works with the title company, your lender, and government agencies as needed to clear each defect—often before the buyer’s side even knows there was a potential problem.

On the inspection side, expect the buyer’s attorney to send a list of issues and request repairs or a credit. An inspection report will always find something—that’s true for every home in every borough. Your attorney evaluates each request against what the contract requires, pushes back on inflated demands, and negotiates credits that are proportional to the actual issue rather than the buyer’s wish list.

Do Sellers in New York City Have to Disclose Property Defects?

Under New York’s Property Condition Disclosure Act (Real Property Law § 462), sellers of residential real property must complete and deliver a detailed disclosure form to the buyer before a binding contract is signed. Prior to March 2024, sellers could bypass this requirement by offering the buyer a $500 credit at closing—an option the vast majority of New York City sellers chose. That opt-out was eliminated when the law was amended effective March 20, 2024, and sellers of non-exempt properties must now provide the completed disclosure. Condominiums and cooperative apartments remain exempt from this requirement entirely.

How Does the Payoff of Your Existing Mortgage Work When You Sell?

Any remaining balance on your mortgage is paid off at closing from the sale proceeds. Your attorney requests a payoff statement from your lender in advance, verifies the figures, and ensures the correct amount is wired on closing day. After the lender confirms receipt, they release the lien so clear title can transfer to the buyer.

The mechanics are straightforward, but the details matter. Many homeowners in neighborhoods like Marine Park, Fresh Meadows, Carroll Gardens, and Manhattan Beach refinanced during recent low-rate periods, which can create additional paperwork. Here’s what your attorney manages:

• Requesting a per-diem payoff letter that accounts for daily interest accrual through the expected closing date
• Confirming that any prior mortgage from a refinance was properly discharged and recorded with the county clerk—if it wasn’t, it will appear as an open lien on the buyer’s title search
• Coordinating the payoff of any home equity line of credit (HELOC) in addition to the primary mortgage
• Building all outstanding loan obligations into the closing statement so you know your true net proceeds before closing day
• Obtaining a new payoff letter if the closing date is postponed, since payoff figures change daily

How Does Your Attorney Work with Your Real Estate Broker?

Your broker and your attorney serve different roles. The broker handles pricing, marketing, and bringing you a buyer. The attorney handles the legal documents, contract negotiations, and closing. The best outcomes happen when both professionals communicate clearly and stay in their respective lanes. Your attorney also reviews the listing agreement and confirms the commission terms are accurately reflected on the closing statement.

We work alongside brokers across the five boroughs every day. When your broker brings you an offer, we draft the contract quickly so the deal doesn’t stall. Where attorney oversight is particularly valuable:

• Reviewing your listing agreement before you sign to confirm the commission rate, exclusivity period, and cancellation terms
• Moving quickly from accepted offer to executed contract—delays in this phase give buyers time to reconsider or find competing properties
• Coordinating with both your broker and the buyer’s agent when issues arise mid-transaction, such as appraisal shortfalls or requests for closing extensions
• Confirming that the commission on the closing statement matches the terms of your listing agreement, including any negotiated splits between the listing agent and the buyer’s agent

What Should Sellers Expect at the Closing Table?

At a New York City residential closing, the seller signs the deed transferring ownership, executes transfer tax returns, delivers required affidavits, and receives the net sale proceeds after all payoffs, taxes, commissions, and adjustments are deducted. Your attorney prepares every document in advance, explains each one before you sign, and confirms that the final numbers are accurate.

If you’ve never sold before, the closing can feel intimidating—a room full of attorneys, stacks of paperwork, and large sums of money changing hands. By the time you sit down, your attorney has already prepared and reviewed everything. There shouldn’t be surprises. As the seller, you will typically sign:

• The deed transferring title to the buyer
• The combined transfer tax return (Form TP-584-NYC) covering both the New York State transfer tax and the NYC Real Property Transfer Tax 
• A FIRPTA affidavit certifying that you are not a foreign person under federal law, which is standard at virtually every residential closing 
• A title affidavit attesting to your ownership and confirming no undisclosed liens or claims exist
• A smoke and carbon monoxide detector affidavit confirming the home is equipped with functioning detectors

Once everything is signed, the title company collects the buyer’s funds, pays off your existing mortgage, deducts closing costs and commissions, and distributes your net proceeds—typically by certified check or wire transfer the same day. For many of our clients—families who raised their children in homes across Sheepshead Bay, Glendale, Marine Park, or Rego Park—the closing is the end of a chapter. We make sure the legal side goes smoothly so you can focus on what comes next.

What Transfer Taxes Do Sellers Pay in New York City?

Sellers in New York City pay two separate transfer taxes at closing: the New York State transfer tax (0.4% for properties under $3 million) and the NYC Real Property Transfer Tax (1% for residential sales under $500,000, and 1.425% for sales of $500,000 or more). These taxes are deducted from the seller’s proceeds and remitted to the state and city by the closing attorney or title company.

For a home selling at $700,000—a realistic price point for single-family houses in Canarsie, Richmond Hill, or Sunset Park—the combined seller transfer tax is approximately $12,775. That catches some sellers off guard. Your attorney builds these costs into the closing statement early so you know your true net proceeds well before closing day. Additional tax considerations for sellers include:

• Federal capital gains tax may apply to the profit from your sale, though most homeowners who have lived in the home for at least two of the last five years can exclude up to $250,000 in gains ($500,000 for married couples filing jointly) 
• New York State taxes capital gains as ordinary income—consult a CPA or tax professional for your specific situation 
• If you are a nonresident of New York or a foreign person under federal tax law, additional withholding requirements may apply at closing 

Ready to Sell Your Home? Talk to a New York Real Estate Attorney First

Selling your home doesn’t have to be overwhelming. With an attorney who communicates clearly, prepares thoroughly, and keeps your interests front and center, the process is straightforward—even if you’ve never done it before. At Gerard Law Firm, we offer free initial consultations, flat-fee pricing for standard residential sales, and the personal attention that comes from working directly with your attorney rather than being handed off to a paralegal.

Call us at (917) 847-7923 to schedule your free consultation.

Or contact us online: www.gerardlawfirm.com/contact

Frequently Asked Questions About Selling a Home in New York City

When should I hire an attorney if I’m planning to sell my home?

Ideally, before you list the property or, at a minimum, before you accept an offer. Having your attorney in place early means the contract can be drafted and sent within days of an accepted offer, keeping the deal from stalling. Your attorney can also review the listing agreement with your broker before you sign it.

Can the buyer back out after signing the contract?

Only if a specific contingency in the contract permits it, such as a mortgage contingency triggered by a legitimate financing denial. If the buyer walks away without a contractual basis, you are generally entitled to keep the down payment as liquidated damages. Your attorney drafts the contract to clearly define the limited circumstances under which the buyer can cancel.

How much does a seller’s attorney cost for a residential transaction in New York?

Most real estate attorneys in the NYC area either charge a flat fee for standard residential sales or an hourly billing rate. However flat fees may only cover specific portions of work and many firms charge add on fees that are only presented to the Seller at Closing At Gerard Law Firm, we provide a clear fee quote before the engagement begins, as well as upfront disclosure of any potential additional fees. Our fees cover representation from contract drafting through closing and post-closing follow-up, with no hidden charges and no “sticker shock” at the Closing Table.

What if there’s a lien on my property I didn’t know about?

Undiscovered liens are more common than most sellers realize and can usually be resolved before or at closing without derailing the transaction. Old judgments, unreleased mortgages from prior refinances, and unpaid water or sewer charges are typical examples. Your attorney works with the title company and the relevant creditor or agency to clear each lien—either by obtaining a release, paying the obligation from sale proceeds, or negotiating a resolution.

Do I have to be physically present at the closing?

Not always. If you cannot attend in person, you can authorize someone to sign on your behalf through a properly executed power of attorney. This is sometimes necessary for sellers who have already relocated or have scheduling constraints. Your attorney prepares the document and ensures it meets the title company’s requirements. In some cases, seller documents can be pre-signed and held in escrow. Gerard Law Firm has experience handling all different types of Closing to make the process as stress-free and convenient to the client as possible.

How soon after closing will I receive my proceeds?

In most cases, the seller receives net proceeds on the day of closing by certified check or wire transfer. Wire transfers typically arrive the same business day or the following morning. Certified checks can be deposited immediately, though your bank’s hold policies determine when funds are fully available. Your attorney confirms the delivery method before the closing.

What happens if the buyer asks for a closing extension?

Closing delays are common in New York real estate. Most contracts use “on or about” closing date language, which gives both sides a reasonable period of flexibility. If the delay becomes unreasonable, your attorney can send a “time is of the essence” letter establishing a hard deadline—typically at least 30 days’ notice. If the buyer still fails to close, you may have the right to declare them in default and retain the down payment.

Gerard Law Firm has over a decade of experience handling hundreds if not thousands of Closings, up to multi-million dollar property sales.  There are very few issues that Gerard Law Firm has not seen or handled, so you can be confident that you are in good hands.