What We Handle
Every transaction is different. These are the four kinds of transactions the Real Estate & Closings practice group handles, with a starting point for reading more about each.
About this practice group
Real Estate & Closings is a practice group of Rausa Russo Law, PLLC, not a separate firm.
All matters are handled by Rausa Russo Law, PLLC, a New York professional limited liability company. For an overview of the transactions we handle, see our real estate transactions practice page.
Residential
Residential Closings
For buyers and sellers of one- to four-family homes: contract review and negotiation, title report review, financing contingencies, and the closing itself.
Buyer’s guide →Co-ops & Condos
Co-ops & Condos
Contracts, building and offering-plan document review, board packages, and closings for co-op shares and condo units.
Co-op article →Commercial
Commercial Deals & Leases
Purchases, sales, and leases for landlords and tenants, including personal guaranties, default and cure provisions, and due diligence.
Commercial lease article →Investors
Investors & 1031 Exchanges
Acquisitions, dispositions, and holding-entity structuring, plus the real estate side of 1031 exchanges, coordinated with your tax adviser.
1031 deadlines article →How a Closing Works
No two closings run exactly the same way, and practice varies by region and property type. In many New York residential transactions, the process looks something like this:
- Review before you sign. Ideally, your attorney reviews the offer, binder, or contract before you sign it. Downstate, the seller’s attorney usually prepares the contract; upstate, a real estate agent often prepares the offer or contract subject to the parties’ attorneys’ approval.
- Contract and deposit. A contract for the sale of real property generally must be in writing and signed by the party to be charged (General Obligations Law § 5-703). The buyer’s down payment is commonly held in escrow on the terms the contract sets. Sellers of most one- to four-family homes must deliver a signed Property Condition Disclosure Statement before the buyer signs a binding contract.
- Due diligence and financing. Inspections, the title search, and, for a co-op, the board application. Many contracts make the buyer’s obligation to close conditional on obtaining a mortgage loan commitment.
- Title and closing preparation. Your attorney reviews the title report, works to clear liens and other issues, and prepares or reviews the deed, transfer tax forms, and closing figures. Title insurance is issued by a title insurer, at rates subject to approval by the Department of Financial Services.
- Closing. Documents are signed and funds change hands. Wire fraud targets closings, so we recommend confirming any wiring instructions by phone with a trusted representative, at a number you already know, before sending money.
- After closing. The deed and any mortgage are recorded and the transfer and recording taxes are paid; in New York City, the Real Property Transfer Tax return is due within thirty days after the transfer. Many new homeowners can also register with the state for the STAR credit.
Request a Flat-Fee Quote
Flat-fee representation is available for many residential closings. Request a quote; the quote and our engagement letter describe what the fee covers. Third-party costs (such as title insurance, transfer and mortgage recording taxes, and recording fees) are separate. A quote is not an engagement; representation begins only under a signed engagement letter.
Request a Flat-Fee Quote Contact the Firm Requesting a quote or contacting us does not create an attorney-client relationship.Guides
Guide
Buying a Home in New York: The Attorney-Led Closing, Step by Step
A step-by-step guide to the attorney-led New York home purchase: contract review, due diligence, financing, title, closing costs, and closing day.
Read the guide →Guide
Selling a Home in New York: Contracts, Disclosures, Taxes, and Closing
For New York home sellers: the contract, the Property Condition Disclosure Statement, transfer taxes, payoffs, and what happens at closing.
Read the guide →Latest Articles
Residential
Do I Need a Lawyer to Buy a House in New York?
New York does not generally require a lawyer for a home purchase, but attorneys are customary here; what a buyer’s attorney does and when to bring one in.
Residential
New York Closing Costs: Transfer Tax, Mansion Tax, and Mortgage Recording Tax Explained
How the state transfer tax, the 1% mansion tax, New York City’s supplemental and transfer taxes, and the mortgage recording tax work, with rates as of October 2026.
Residential
Selling a Home in New York: The Property Condition Disclosure Statement After the 2024 Changes
Since March 20, 2024, sellers can no longer give a $500 credit instead of the disclosure statement; what the form requires, which transfers are exempt, and what it does not cover.
Co-ops & Condos
Buying a Co-op in New York: The Board Package, Approval, and Your Rights
How co-op ownership works, how much deference courts give board decisions, and the New York City and Westchester timelines for acting on applications.
Protect Your Property
Closing Wire Fraud: How to Protect Your Down Payment in a New York Real Estate Deal
Scammers impersonate attorneys and title companies to redirect closing funds; how to verify wiring instructions and what to do right away if money goes to the wrong place.
Protect Your Property
Deed Theft in New York: How to Protect Your Home and What to Do If It Happens
Deed theft can now be prosecuted as grand larceny in New York; the warning signs, protective steps, and where to report a suspected fraudulent deed.
Investors
1031 Exchange Deadlines for New York Investors: The 45-Day and 180-Day Rules
The federal identification and exchange periods, the three-property and 200% identification rules, and why the qualified intermediary matters. Tax questions belong with your tax adviser.
Commercial
Signing a Commercial Lease in New York: Personal Guaranties, Defaults, and Yellowstone Injunctions
Personal guaranties, notices of default and cure, and why a commercial tenant generally must seek a Yellowstone injunction before the cure period runs out and the lease terminates.
Investors
Buying New York Property in an LLC: Publication, Transparency, and Federal Reporting Rules in 2026
New York’s LLC publication requirement, the narrowed LLC Transparency Act, and where federal beneficial ownership and FinCEN residential reporting stand in 2026.
Newsletter
The Closing Brief
Short, occasional updates on New York real estate law and closing practice. Read the latest issue online.
Read issues & subscribe →Articles
All Real Estate Articles
Browse every article by topic: residential, co-ops and condos, commercial, investors, and protecting your property.
Browse articles →Frequently Asked Questions
Do I need a lawyer to buy a house in New York?
New York does not generally require a buyer to hire a lawyer, but attorneys are customary in New York home purchases, and both the New York State Bar Association and the New York Attorney General recommend that buyers have their own attorney review contracts and loan documents before signing. Downstate, the seller’s attorney usually prepares the contract; upstate, a real estate agent often prepares the offer or contract subject to the parties’ attorneys’ approval. The time to consult an attorney is before you sign anything, or right after you sign a contract or binder that is subject to attorney approval.
Do you offer flat fees?
Flat-fee representation is available for many residential closings. Request a quote; the quote and our engagement letter describe what the fee covers. Third-party costs (such as title insurance, transfer and mortgage recording taxes, and recording fees) are separate. A quote is not an engagement; representation begins only under a signed engagement letter.
Where in New York do you handle closings?
We represent clients in real estate transactions throughout New York State. Local customs, taxes, and fees vary by county and region. For example, New York City imposes its own Real Property Transfer Tax, and mortgage recording tax rates differ from county to county, so the costs and paperwork for a closing in Manhattan can look quite different from those for a closing in Westchester or upstate.
Do you handle co-ops?
We represent buyers and sellers of co-op apartments, as well as condo units. In a co-op, the corporation owns the building, and the buyer acquires shares allocated to the apartment along with a proprietary lease, subject to approval by the co-op board. Courts generally defer to a board’s decision so long as the board acts for the purposes of the cooperative, within the scope of its authority and in good faith. New York City’s Local Law 58 of 2026 (for covered co-ops) and Westchester County’s co-op disclosure rules set timelines for boards to respond to purchase applications.
Can you help with commercial leases and 1031 exchanges?
We represent commercial landlords and tenants in negotiating and reviewing leases, and investors buying and selling property, including transactions structured as 1031 exchanges. On an exchange, we handle the real estate side of the deal and can coordinate with your qualified intermediary and your tax adviser. We do not provide tax advice: whether an exchange qualifies, and how the 45-day identification period and 180-day exchange period apply to you, are questions for your tax adviser.
Sources
- NYSBA LEGALease—The Attorney’s Role in Home Purchase Transactions
- NYSBA LEGALease—Buying and Selling Real Estate
- New York Attorney General—Homeowners
- N.Y. Gen. Oblig. Law § 5-703 (Statute of Frauds) (NY Senate)
- N.Y. Real Prop. Law § 462 (Property Condition Disclosure Statement) (NY Senate)
- NYS Department of Financial Services—Title Insurance
- NYC Department of Finance—Real Property Transfer Tax
- NYS Department of Taxation and Finance—Form MT-15 (mortgage recording tax rates)
- NYS Department of Taxation and Finance—STAR
- 40 W. 67th St. Corp. v. Pullman (N.Y. 2003) (Cornell LII)
- New York City Council—Local Law 58 of 2026 (Int. 1120-B)
- Westchester County Human Rights Commission—Cooperative Housing Disclosure
- 26 U.S.C. § 1031 (Cornell LII)
- CFPB (2019, archived)—Mortgage Closing Scams
Attorney Advertising This page provides general information about real estate transactions in New York. It is not legal or tax advice, and reading it does not create an attorney-client relationship. Rausa Russo Law, PLLC does not provide tax advice; on 1031 exchanges and other tax questions, we can coordinate with your tax adviser. Prior results do not guarantee a similar outcome.