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Professional Lawyer in New York | Flushing & Queens

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NEW YORK PROFESSIONAL REAL ESTATE AND COMMERCIAL TRANSACTION LAWYER

FENGLI GUO, ESQ.

Fengli Guo, Esq. has focused on real estate transactions and business transactions in New York ever since 2002. Our office represents purchasers, sellers, builders, and lenders with experience of over 5,000 closings.

  • Residential Real Estate Transactions
  • Lease Review and Negotiation
  • Commercial Property Transactions
  • Business transactions

OUR ADVICE ON 1ST-TIME PURCHASER OF REAL PROPERTY:

Purchase fund shall be available:

Purchase fund shall be available: The purchaser shall make sure the fund to purchase the real property is available in the bank account before signing the contract. This is especially important for those purchasers who purchase cooperative units or who need to apply for loans from banks. If the contract is signed first before the fund is available in the bank account, it’ll delay the loan approval or cooperative board approval. In case the fund is not available after the contract is signed, it will not only delay the transaction and closing but also put the purchaser at risk of contract default and loss of contract deposit.

Home inspection:

Home inspection: If a purchaser plans to purchase a residential house, it is strongly recommended that the purchaser shall have a home engineer inspect the house and have the home inspection report ready before entering into the contract. In the event that the purchaser plans to purchase a condo or cooperative unit, a home inspection may not be needed but the building offering plan and financial statements shall be reviewed by the attorney for evaluation.

Contract execution:

Contract execution: First the seller’s attorney sends the contract draft to the purchaser’s attorney. The purchaser’s attorney reviews the contract and makes revisions. After the revisions are agreed by both parties, the purchaser will sign the contract first and send the contract deposit to the seller’s attorney. After the seller’s attorney receives the contract deposit, the seller will sign the contract. At this point, the contract is fully executed and becomes a binding legal document.

Closing:

Closing: After the loan approval is obtained and the title report shows title records are clear, all parties will proceed to schedule the closing. The purchaser shall make sure to do the final walk-through prior to closing, purchase home insurance, prepare bank checks and bring unexpired photo ID to closing.

ATTORNEY - FENGLI GUO

Deed Transfer

Fengli Guo, Esq. is very experienced in helping you to change owner's name of the deed, adding owner's name, transfer title to family members or.... Learn More

Commerical Lease

Fengli Guo, Esq. is very experienced in helping client review and negotiating commercial leases for stores and offices. We make thorough explanation of the lease.... Learn More

Business Transactions

Fengli Guo, Esq. helps various clients with their business transactions including restaurants, nail salon, dry cleaners and liquor stores and is happy to help clients.... Learn More

Real Estate Transactions

Fengli Guo, Esq. helps various clients in real estate transactions including cooperative units, condominium units, residential dwellings and commercial properties. From reviewing and negotiating contract,.... Learn More

FENGLI GUO, ESQ. HAS FOCUSED ON REAL ESTATE TRANSACTIONS AND BUSINESS TRANSACTIONS IN NEW YORK EVER SINCE 2002.

Buying and selling real estate in the U.S. has many confusing and complex legal documents, and in New York State, real estate contracts must be written by a lawyer.
So having a good real estate lawyer is crucial to help ensure your real estate sale goes smoothly.

  • Phone:
    718-888-8720
  • Email:
    guoassociates@yahoo.com
Free Consultation

Latest Blog

30Sep, 2022

Co-Ownership of Real Estate

When there is more than one owner on a deed, the owners have co-ownership of the title. There are three categories of co-ownership. The first....
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30Sep, 2022

How to Do Power of Attorney

In New York State, both the sellers and purchasers are required to attend the closing in person. In the event that the party is unable....
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21Sep, 2022

Real Estate Transaction: Wealth Accumulation

In the past decades, the value of real estate all over the United States has been increasing continuously. More and more people invest in the....
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