REPRESENTING THE BUYER 

 

• Initial consultation with Jaclyn to discuss specifics of your transaction.

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• For co-op and condo purchases, Jaclyn will review the board minutes, the financials statements, house rules and any other pertinent documents of the building to ascertain the condition of the building.  Jaclyn will prepare a due diligence memo flagging any important issues pertaining to the building or the specific unit.  Jaclyn will also inform you of any coop/condo/managing agent fees. For single-family houses, Jaclyn will review the inspection report and discuss any concerns with you. 

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• Review and negotiate contract of sale prepared by the Seller’s attorney.  Prepare Purchaser’s Rider for your protection and negotiate with Seller’s attorney. Once the contract is in execution format, Jaclyn will arrange for you to execute the contract.  At this time the 10 percent deposit is due to be held in escrow by the Seller’s attorney until closing. 

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• If you are obtaining financing, Jaclyn will work with your Lender to ensure the lending process is smooth and all deadlines are met. Jaclyn will also help you understand the fees imposed by your lender. 

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• For condo purchases and single-family houses, Jaclyn will order a title report and review the report to ensure title to the property is in order (i.e. deeds, certificates occupancies, liens, and municipal searches).  She will work with Seller’s attorney to cure any title issues prior to closing. For coop purchases, Jaclyn will order a lien search and ensure all UCC-1s are terminated at closing and resolve any issues listed in the lien search. 

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• Once title is in order and your Lender has given us clearance (and you have obtained any necessary board approvals), Jaclyn will schedule a closing with the Seller, Lender and any other necessary parties. Prior to closing, Jaclyn will provide you with a draft closing statement which lists all fees and adjustments so you understand what monies will be necessary at closing. 

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• At the closing, Jaclyn will explain all closing documents including bank documents, coop/condo document and transfer documents to you and guide you through the process. Jaclyn will ensure all of the transfer documents are in order and the monies exchanged is correct. 

 

• After closing, Jaclyn will prepare a closing package for you, which includes a final closing memo and all of the closing documents. 

 

 

REPRESENTING THE SELLER 

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• Initial consultation with Jaclyn to discuss specifics of your transaction and review the closing costs with you.  Typically, the Seller needs to pay any applicable transfer tax, broker fees, any fees imposed by a coop/condo/management association and any fees associated with the payoff of your loan. 

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• Jaclyn will provide you with a draft closing statement which lists all fees and adjustments so you understand what monies will be necessary at closing.    Jaclyn will prepare the Contract of Sale with the Seller’s Rider as well as any necessary disclosures.   Jaclyn will negotiate the Contract and any proposed riders with the Purchaser’s rider. 

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• Jaclyn will obtain the necessary payoff statements and prepare for any loans to be paid off at closing and will ensure any outstanding title issues are resolved prior to closing. 

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• Prior to contractual closing date, Jaclyn will schedule a closing with the Purchaser and all of the necessary parties.  Jaclyn will then prepare the deed and transfer tax returns as well as any other necessary closing documentation. 

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• Prior to closing, Jaclyn will provide you with a draft closing statement which lists all fees and adjustments so you understand what monies will be necessary at closing. 

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• At the closing, Jaclyn will explain all closing documents including, coop/condo documents and transfer documents to you and guide you through the process. She will ensure the monies exchanged is correct.

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• After closing, Jaclyn will prepare a closing package for you, which includes a final closing memo and all of the transfer documents.