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NY Real Estate Closings

bros any experience with these? Buddy's dad is an attorney ...
supple tan school cafeteria cuckoldry
  12/16/14
is he offering to let you shadow him/be his bitch for a few ...
mischievous canary sandwich rigpig
  12/16/14
Shadow, I'm currently solo
supple tan school cafeteria cuckoldry
  12/17/14
they are not hard but you've got to get business. helps if y...
unholy location
  12/16/14
This guy said to visit agents, had out cards and say I'd do ...
supple tan school cafeteria cuckoldry
  12/17/14
Fill in the blank. Sign.
pale curious field
  12/16/14
CORRECTION: - have paralegal fill in the blanks. - revie...
unholy location
  12/16/14
...
pale curious field
  12/16/14
Real Estate closing are surprisingly a minefield and the lar...
Magenta sadistic reading party
  12/16/14
Oh, and co-ops bring their own set of headaches. Have fun de...
Magenta sadistic reading party
  12/16/14
Jesus what if I stick to areas outside the city, like white ...
supple tan school cafeteria cuckoldry
  12/17/14
Steve?
supple tan school cafeteria cuckoldry
  12/17/14
shitlaw steve could go pumo and i'd instantly recognize this...
Racy indecent depressive university
  12/17/14
180, would read again.
Slippery fluffy market milk
  12/18/14
i havent even read it yet but i already know i agree with th...
Abnormal sepia nursing home multi-billionaire
  12/19/14
...
Racy indecent depressive university
  12/19/14
u used to brag about making an extra $20K a year on closing ...
chrome wild trust fund chapel
  04/08/15
what's the going rate for closings in nyc?
supple tan school cafeteria cuckoldry
  12/18/14
$1200 sellers side. $800 or $1000 buyers side. Some people a...
Magenta sadistic reading party
  12/19/14
damn, based on your description above, doesn't seem worth it
Talented Bearded Set
  12/19/14
It's not that bad. Every deal the issues are the same. It's ...
Magenta sadistic reading party
  12/19/14
possible to set up a high vol "practice" like this...
Abnormal sepia nursing home multi-billionaire
  12/19/14
Possible. I've done this. I do +/- 10 closings a month now. ...
Magenta sadistic reading party
  12/19/14
Are you solo? That's a lot of money, 10k//mo?? How much ...
supple tan school cafeteria cuckoldry
  12/19/14
...
supple tan school cafeteria cuckoldry
  01/10/15
...
supple tan school cafeteria cuckoldry
  01/10/15
...
supple tan school cafeteria cuckoldry
  01/12/15
Few states actually have a lawyer at closing.
Transparent locus athletic conference
  12/19/14
fma what state to go to to cop dat kikey middleman surcha...
Abnormal sepia nursing home multi-billionaire
  12/19/14
New York.
Transparent locus athletic conference
  12/19/14
sounds like you just need a good secretary/paralegal.
Talented Bearded Set
  12/19/14
In the beginning you are doing 100% of the work. The paraleg...
Magenta sadistic reading party
  12/19/14
More steve
supple tan school cafeteria cuckoldry
  12/20/14
My landlord just asked if I could do this for her. Have zero...
fishy razzle hospital haunted graveyard
  04/08/15
...what could go wrong?
crystalline hilarious stock car sanctuary
  04/08/15
seems like a major conflict to represent your LL in a RE dea...
Racy indecent depressive university
  04/08/15
Meant Former LL. I moved out on the 1st.
fishy razzle hospital haunted graveyard
  04/08/15


Poast new message in this thread



Reply Favorite

Date: December 16th, 2014 6:25 PM
Author: supple tan school cafeteria cuckoldry

bros any experience with these? Buddy's dad is an attorney outside the city and said would teach me the ropes - but prefaced it by saying it's not rocket science, and I would have the hang after attending a couple closings with him. This seems like cake money if you can get the business?

(http://www.autoadmit.com/thread.php?thread_id=2758272&forum_id=2#26943679)



Reply Favorite

Date: December 16th, 2014 10:15 PM
Author: mischievous canary sandwich rigpig

is he offering to let you shadow him/be his bitch for a few weeks or is he offering to take you into his practice and transition it to you?

if the former... fuck that unless you're planning to already go solo. if the latter... maybe you can ride on shitboomer coattails, go for it.

(http://www.autoadmit.com/thread.php?thread_id=2758272&forum_id=2#26945214)



Reply Favorite

Date: December 17th, 2014 2:14 AM
Author: supple tan school cafeteria cuckoldry

Shadow, I'm currently solo

(http://www.autoadmit.com/thread.php?thread_id=2758272&forum_id=2#26946987)



Reply Favorite

Date: December 16th, 2014 6:26 PM
Author: unholy location

they are not hard but you've got to get business. helps if you have any realtor friends.

(http://www.autoadmit.com/thread.php?thread_id=2758272&forum_id=2#26943681)



Reply Favorite

Date: December 17th, 2014 2:32 AM
Author: supple tan school cafeteria cuckoldry

This guy said to visit agents, had out cards and say I'd do closings for 500-650

(http://www.autoadmit.com/thread.php?thread_id=2758272&forum_id=2#26947041)



Reply Favorite

Date: December 16th, 2014 6:27 PM
Author: pale curious field

Fill in the blank. Sign.

(http://www.autoadmit.com/thread.php?thread_id=2758272&forum_id=2#26943684)



Reply Favorite

Date: December 16th, 2014 6:30 PM
Author: unholy location

CORRECTION:

- have paralegal fill in the blanks.

- review

- sign

- collect closing attorney fees

(http://www.autoadmit.com/thread.php?thread_id=2758272&forum_id=2#26943694)



Reply Favorite

Date: December 16th, 2014 6:32 PM
Author: pale curious field



(http://www.autoadmit.com/thread.php?thread_id=2758272&forum_id=2#26943710)



Reply Favorite

Date: December 16th, 2014 10:30 PM
Author: Magenta sadistic reading party

Real Estate closing are surprisingly a minefield and the largest cause of malpractice claims for practitioners. The actual closing process is not hard, but the contract and pre-closing side of it is another story and requires you know a thing or ten.

The form contracts the NYSBA has are for a pre-bubble universe. In a post bubble world where nothing closes in 60 days you need to heavily modify the standard mortgage contingency clauses. 60 days is a joke. Ask for 120. You probably wont get it, but its best to ask. If you dont get it you have to call and email on day 58 or so for an extension because you will need it. Let the shit go hard without asking for more time and you open yourself to a malpractice claim so you have to calendar each contract and make sure you call like clockwork and fire off emails to cover your ass.

Every mortgage broker will also ask you to put in a sellers concession clause -- you can't have those in NY and underwriters dont know or give a shit that this is the case so mortgage brokers will insist on it and underwriters will approve it and you will lose your license.

The mortgage contingency stuff and the sellers concession shit are the two biggest issues.

But in NY there are other minefields -- like adjustments for water. Water bills are NOT accurate. You have to have a meter reading day before or day of or your client could easily find themselves stuck with a $8k water bill and then they sue you. Out on Long Island its private water so its not an issue but in the city its a big issue. Newbies are all to happy to accept "last months" bill and not schedule a reading. That is a mistake.

Then you have all the issue with illegal extensions in NYC. You have to read the title report closely. Work without a permit is NOT a restriction on title, but it is a major restriction on use. The title company and the bank may let you close, but then your client finds the Building Department wont let him do any work. Have fun!

The form contracts dont touch on Department of Buildings shit at all -- only title. This is because they are written by people in Albany where this is not an issue. In NYC its a big issue. Use restrictions should be worked into a rider to the K. You cover your ass that way. Most lawyers actually don't do this, but they should.

And then there are surveys. 99,9999% of lawyers cant read them. Learn.

That's actually about 85% of it. You need a good limited purpose retainer specific for closings, and you have to pay attention to little shit.



(http://www.autoadmit.com/thread.php?thread_id=2758272&forum_id=2#26945360)



Reply Favorite

Date: December 16th, 2014 10:33 PM
Author: Magenta sadistic reading party

Oh, and co-ops bring their own set of headaches. Have fun dealing with the board and reviewing proprietary leases.

(http://www.autoadmit.com/thread.php?thread_id=2758272&forum_id=2#26945381)



Reply Favorite

Date: December 17th, 2014 2:18 AM
Author: supple tan school cafeteria cuckoldry

Jesus what if I stick to areas outside the city, like white plains?

(http://www.autoadmit.com/thread.php?thread_id=2758272&forum_id=2#26946996)



Reply Favorite

Date: December 17th, 2014 4:32 PM
Author: supple tan school cafeteria cuckoldry

Steve?

(http://www.autoadmit.com/thread.php?thread_id=2758272&forum_id=2#26950502)



Reply Favorite

Date: December 17th, 2014 3:13 AM
Author: Racy indecent depressive university

shitlaw steve could go pumo and i'd instantly recognize this scholarship.

(http://www.autoadmit.com/thread.php?thread_id=2758272&forum_id=2#26947172)



Reply Favorite

Date: December 18th, 2014 3:02 PM
Author: Slippery fluffy market milk

180, would read again.

(http://www.autoadmit.com/thread.php?thread_id=2758272&forum_id=2#26956902)



Reply Favorite

Date: December 19th, 2014 6:36 PM
Author: Abnormal sepia nursing home multi-billionaire

i havent even read it yet but i already know i agree with this poast

(http://www.autoadmit.com/thread.php?thread_id=2758272&forum_id=2#26964181)



Reply Favorite

Date: December 19th, 2014 9:46 PM
Author: Racy indecent depressive university



(http://www.autoadmit.com/thread.php?thread_id=2758272&forum_id=2#26965351)



Reply Favorite

Date: April 8th, 2015 2:16 AM
Author: chrome wild trust fund chapel

u used to brag about making an extra $20K a year on closing and half-assed chapter 7 filings u greedy heeb

(http://www.autoadmit.com/thread.php?thread_id=2758272&forum_id=2#27646309)



Reply Favorite

Date: December 18th, 2014 2:59 PM
Author: supple tan school cafeteria cuckoldry

what's the going rate for closings in nyc?

(http://www.autoadmit.com/thread.php?thread_id=2758272&forum_id=2#26956887)



Reply Favorite

Date: December 19th, 2014 6:19 PM
Author: Magenta sadistic reading party

$1200 sellers side. $800 or $1000 buyers side. Some people ask for $1500 if its a co-op because those are a bitch.

(http://www.autoadmit.com/thread.php?thread_id=2758272&forum_id=2#26964096)



Reply Favorite

Date: December 19th, 2014 6:23 PM
Author: Talented Bearded Set

damn, based on your description above, doesn't seem worth it

(http://www.autoadmit.com/thread.php?thread_id=2758272&forum_id=2#26964118)



Reply Favorite

Date: December 19th, 2014 6:34 PM
Author: Magenta sadistic reading party

It's not that bad. Every deal the issues are the same. It's volume practice and when you get to know all the pitfalls its purely mechanical You just have to know what you are supposed to be looking for and be methodical as fuck about it. Shit only goes bad when you dont cover your own ass with emails. If the schmuck buyers lender is taking too long and the deposit goes hard its not your problem so long as you fired off the right "WARNING YOU'RE ABOUT TO BE FUCKED" email beforehand.

In the beginning you just need someone to hold your hand. I've actually just covered 85% of the shit that comes up.

The stuff I left out is mostly the basic mechanicals -- mortgage tax, mansion tax, ACRIS headaches, and how to read a title invoice (hint: you have to check their numbers because they make mistakes) and do the adjustment maths you need to do at the table. Its not rocket science, but you need someone to hold your hand the first few times.

One of the most important things actually is just to remind your client to bring ID to the closing. You need to have a mechanized process in place so none of these shitty little things escapes you.

(http://www.autoadmit.com/thread.php?thread_id=2758272&forum_id=2#26964169)



Reply Favorite

Date: December 19th, 2014 6:38 PM
Author: Abnormal sepia nursing home multi-billionaire

possible to set up a high vol "practice" like this and just make a nice easy 200k a year? not in ny but lets say some other eastern shitlib state like PA or MD

(http://www.autoadmit.com/thread.php?thread_id=2758272&forum_id=2#26964190)



Reply Favorite

Date: December 19th, 2014 6:40 PM
Author: Magenta sadistic reading party

Possible. I've done this. I do +/- 10 closings a month now. Get to know real estate agents and mortgage brokers. It will take years.

(http://www.autoadmit.com/thread.php?thread_id=2758272&forum_id=2#26964198)



Reply Favorite

Date: December 19th, 2014 10:02 PM
Author: supple tan school cafeteria cuckoldry

Are you solo? That's a lot of money, 10k//mo??

How much prep time does a closing take? The actual closing is only 2 hours right?



(http://www.autoadmit.com/thread.php?thread_id=2758272&forum_id=2#26965444)



Reply Favorite

Date: January 10th, 2015 12:43 AM
Author: supple tan school cafeteria cuckoldry



(http://www.autoadmit.com/thread.php?thread_id=2758272&forum_id=2#27090130)



Reply Favorite

Date: January 10th, 2015 2:15 PM
Author: supple tan school cafeteria cuckoldry



(http://www.autoadmit.com/thread.php?thread_id=2758272&forum_id=2#27092002)



Reply Favorite

Date: January 12th, 2015 2:44 PM
Author: supple tan school cafeteria cuckoldry



(http://www.autoadmit.com/thread.php?thread_id=2758272&forum_id=2#27103339)



Reply Favorite

Date: December 19th, 2014 6:47 PM
Author: Transparent locus athletic conference

Few states actually have a lawyer at closing.

(http://www.autoadmit.com/thread.php?thread_id=2758272&forum_id=2#26964241)



Reply Favorite

Date: December 19th, 2014 7:04 PM
Author: Abnormal sepia nursing home multi-billionaire

fma

what state to go to to cop dat kikey middleman surcharge?

(http://www.autoadmit.com/thread.php?thread_id=2758272&forum_id=2#26964318)



Reply Favorite

Date: December 19th, 2014 7:11 PM
Author: Transparent locus athletic conference

New York.

(http://www.autoadmit.com/thread.php?thread_id=2758272&forum_id=2#26964357)



Reply Favorite

Date: December 19th, 2014 6:39 PM
Author: Talented Bearded Set

sounds like you just need a good secretary/paralegal.

(http://www.autoadmit.com/thread.php?thread_id=2758272&forum_id=2#26964194)



Reply Favorite

Date: December 19th, 2014 6:49 PM
Author: Magenta sadistic reading party

In the beginning you are doing 100% of the work. The paralegals who know this shit well are all working for title cos and banks in-house and making $65-75k. A title closer for a title company can do 2 or 3 closings a day and they get $200 for each one. $400-600 a day on a good day or $200 on a bad day. Not bad for a chick with an associates degree.

(http://www.autoadmit.com/thread.php?thread_id=2758272&forum_id=2#26964254)



Reply Favorite

Date: December 20th, 2014 6:46 PM
Author: supple tan school cafeteria cuckoldry

More steve

(http://www.autoadmit.com/thread.php?thread_id=2758272&forum_id=2#26970256)



Reply Favorite

Date: April 8th, 2015 2:09 AM
Author: fishy razzle hospital haunted graveyard

My landlord just asked if I could do this for her. Have zero experience. Go for it?

(http://www.autoadmit.com/thread.php?thread_id=2758272&forum_id=2#27646275)



Reply Favorite

Date: April 8th, 2015 2:11 AM
Author: crystalline hilarious stock car sanctuary

...what could go wrong?

(http://www.autoadmit.com/thread.php?thread_id=2758272&forum_id=2#27646280)



Reply Favorite

Date: April 8th, 2015 2:11 AM
Author: Racy indecent depressive university

seems like a major conflict to represent your LL in a RE deal

zero experience isn't the issue.

(http://www.autoadmit.com/thread.php?thread_id=2758272&forum_id=2#27646283)



Reply Favorite

Date: April 8th, 2015 2:13 AM
Author: fishy razzle hospital haunted graveyard

Meant Former LL. I moved out on the 1st.

(http://www.autoadmit.com/thread.php?thread_id=2758272&forum_id=2#27646288)