Once you have received an acceptable offer for the purchase of your home or property on the East End, there are seven steps involved in consummating the sale.
1. Retain Counsel. First, you must retain an attorney to prepare the contract, which includes all the terms and conditions of the sale. The contract is the most important document in the transaction, since neither party is bound to proceed with the sale until both parties have signed the contract.
In order to accelerate the transaction, property owners usually retain local counsel who are familiar with local zoning and building department regulations and title company requirements. Documents used in the original purchase of the property, such as the deed, title report, and survey, together with the current tax bill, should be sent to your attorney for used in preparing the contract.
