Buying a house in Sullivan Co., NY and just getting the contracts is taking FOREVER. I've had the inspection,
had the post-inspection renegotiations, have had an offer accepted by the sellers, but the attorneys are moving at a glacial pace. Worse, the sellers' agent is still listing the house online (and even creating new listings for it). How can I encourage the attorneys to speed this process up? (And my buying agent hasn't had much luck himself, nor has my attorney.)
In NY, real estate transactions always take place through two attorneys, not through a closing company or escrow service. That's why the lawyers are involved.
We're waiting on all the contracts. Still.
I'd REALLY like to hear from NY real estate professionals and I'm disappointed that nobody has weighed in yet.
Paul, I have to be honest with you... I am stumped. I am not familiar with NY real estate law, but I am surprised to hear that the other agent is still marketing the property. Is there a reason the attorneys are involved, or just because the parties feel more protected?
If you have passed the point of the inspections, what contracts are you waiting for? Let me know as I am interested in knowing more!
No, not a bank-owned property. Anyone else? Really, I'm surprised more people haven't responded.
If this is a bank owned property, it takes longer than a normal purchase and sometimes the bank will still reject it. It is normal to keep advertising until all aspects of the contract are met. Hang in there, if the contract is ratified, and all conditions are met, and closing date is set, it will probably happen.
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