Buying a home is one of the biggest financial decisions you will make.
Real estate contracts, title issues, and lender requirements can be complicated.
Without an experienced real estate attorney, you may miss important details that affect your closing.
At Baillie & Hershman P.C., our attorneys guide you through every step of your purchase, sale, or refinance, protecting your interests and keeping your closing on track.
We review your contract, coordinate with your lender and agent, address title or inspection issues, and explain each document you sign so there are no surprises at the closing table.
Our lawyers represent buyers, sellers, and homeowners throughout Westchester County and the greater New York metropolitan area, as well as Connecticut, Massachusetts and Maine.
Clients trust the attorneys of Baillie & Hershman to manage their real estate settlement services.
Residential & Commercial Real Estate Law
We have over 150 years of combined experience among us and understand the nuances of residential, commercial, and relocation real estate transactions.
What Makes Us Your Trusted Legal Partner
As your legal representative, our attorneys focus is to provide you with the level of assurance and legal support needed to efficiently close your transaction.
Exemplary Customer Service
We are extremely proud to have assembled an exceptional team of attorneys, paralegals and legal assistants -- they truly represent the pinnacle of their field in terms of knowledge and customer satisfaction.
We Are Here When You Need Us Most
At Baillie & Hershman, we understand that there may be last-minute questions and time-sensitive issues. We take pride in being available when you need us.
Frequently Asked Questions...
Below are the most frequently asked questions when it comes to buying.
Although real estate transactions are handled by title or escrow companies in many states, in Connecticut, it is customary for all parties to the transaction to be represented by their own attorney and required by law if a mortgage is being obtained.
The purchase of a property requires a legally binding contract between the Buyer and Seller. The attorneys of Baillie & Hershman and their staff will help you understand how the contract protects your rights and what legal obligations it creates for both Buyer and Seller.
Most sellers will sign their sale paperwork in advance of the closing date. This paperwork includes the deed, a conveyance tax form, a title insurance affidavit, a non-foreign affidavit, as well as various other documents including forms insuring that any existing mortgage on the property will be paid off at closing. Because these documents must be notarized, they cannot be signed electronically. On the day of the closing, the seller should be sure to have vacated the property and removed all personal property and debris. When the closing is complete, the seller’s attorney will transmit the sale proceeds to the seller.
A title search and municipal department search will reveal the history of the property, including any liens, judgments, restrictions, easements or other facts that could potentially affect a property’s sale and allows for the issuance of title insurance. It entails a review of all necessary records relating to the property at the municipal offices to be sure the property can be sold by its legal owner and is not encumbered my unpaid mortgages, liens or any other defect in title.
Title insurance is offered by title insurance companies to mortgage lenders, as well as property owners directly, to protect against many kinds of loss that may result from a defect in title. A title policy insures that a property is free and clear of liens, mortgages and other claims that would prevent it from being sold or from being used for its intended purpose.
Lender’s title insurance is purchased at closing and is required by all mortgage lenders. For a small additional fee, you can purchase an owner’s policy that will also insure your interest. Unlike other kinds of insurance, you do not have to pay any renewal premium for your owner’s title insurance policy.
A title policy insures that a property is free and clear of liens, mortgages and other
claims that would prevent it from being sold or from being used for its intended purpose.
NOTE: Title insurance and homeowner’s insurance are two completely, separate and unrelated types of insurance.
Both the Buyer and Seller of any property can be represented by a real estate agent. Typically, each has their own agent, but if the same agent is representing both parties, there must be an agreement regarding “dual agency” and this should be agreed upon prior to the offer being presented.
Adjustments are made at the closing so that if the Seller has prepaid items beyond the closing date (for example property taxes, water and sewer changes, fuel or association dues) they are reimbursed. If Seller has left items unpaid and they become the responsibility of Buyer, the Buyer is given a credit by the Seller.
Conveyance tax is imposed on the transfer of real property at the state, county, or municipal level.
The conveyance tax is also known as a real estate transfer tax. This tax is generally calculated as a percentage of the sale price. If the property is sold for a very low amount or is transferred for free, such as between family members, it may be exempt from conveyance tax but may still be subject to estate tax.
Conveyance Tax by State:
CT (click here)
NY (click here)
MA (click here)
ME (click here)
NH (click here)
VT (click here)
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