Michael M. Walsh Attorney at Law

Michael M. Walsh Attorney at Law Practicing in real estate law, wills and estate, elder law and personal injury law.

01/21/2022

Q: What does “on or about” mean?
A: In NYC a closing date in the contract is typically an “on or about” date. This means the date is a target date and not actually a scheduled date. Either side to the transaction is permitted a “reasonable” adjournment or postponement of the “on or about” date. There is no iron clad rule as to the length of an adjournment and the Courts have held the entitled adjournment must be reasonable based on the circumstances of each particular case. In Staten Island, the general rule of thumb is 30 days.

01/04/2022

In business since 1983, Michael M. Walsh, Esq. has helped countless residential and commercial buyers and sellers throughout New York City and Long Island. He has experience closing transactions in a smooth and timely manner for first time homebuyers, experienced investors, and those selling, upgrading, or downsizing. Michael can also help those wishing to re-finance their properties. Learn more today by visiting http://www.mmwalshlaw.com/

Happy Holidays!
12/25/2021

Happy Holidays!

12/20/2021

Q: What is an "HOA"?
A: An HOA is an acronym for Home Owners Association. The most common reason on Staten Island for an HOA is when newly constructed homes share a common sewer line or drain. State law requires the establishment of an HOA to collect a monthly fee from each affected homeowner and maintain those funds to cover the costs of repairing or replacing that common sewer line or drain as well as covering the taxes that the HOA will be required to pay and the associated administrative fees (accountants, management company etc.) Some HOA's are also PUD's or Planned Unit Developments which simply put, are HOA's that also have some shared amenity like a playground, common parking area or a pool. Your attorney can tell you if the property is subject to a HOA declaration and monthly fee. Some sellers are not even aware that their properties are subject to an HOA declaration because many of them are "inactive". This can present some problems in a transaction so it is important to speak to your attorney about this issue pre-contract.

12/07/2021

Are you purchasing property in Staten Island? Michael M. Walsh closes transactions in a smooth and timely manner. Call today: 718-442-3900

11/19/2021

Q: Should I get a house inspection?
A: It is strongly advised that all buyers have the house inspected to disclose any defects or problems that the buyer was not able to detect during their viewing of the home. The inspection should be done by an engineer or a licensed home inspector. The inspection is typically done pre-contract after the buyer’s offer is accepted. While the inspection is not intended to serve as a bargaining or negotiating tool, if a condition is disclosed by the inspection that the buyer did not take into consideration when making their offer, they may want to consult with their real estate professional and modify their offer.

11/07/2021

In business since 1983, Michael M. Walsh, Esq. has helped countless residential and commercial buyers and sellers throughout New York City and Long Island. For experienced, results-oriented real estate legal assistance, choose Michael M. Walsh, Esq!

Happy Halloween!
10/31/2021

Happy Halloween!

10/20/2021

Q: What is title insurance?
A: Title insurance is a policy of insurance purchased at the closing of real property. The fee or owner's policy insures the buyer and the loan policy insures the lender if any. Title insurance ensures that the property is the size you think it is, the structure sits within the property lines, the seller has the legal right to sell the property, and there exist no liens or encumbrances which would interfere with the use and enjoyment of the property. Title insurance does not ensure that the building is legal so if there is any question about the legality of the structure an architect should be consulted.

The premiums for title insurance are regulated by the New York Board of Title Underwriters and are the same regardless of the title insurance company your attorney uses. The premium is a one-time payment and there is no future bill received for the insurance. The buyer pays for both policies at closing and the policies stay in effect until there is a transfer of title or the mortgage is paid off. You can determine the cost of the title insurance premiums for your transaction by using the First American Title Insurance Company calculator. Title agencies also collect the fees for deed and mortgage recording (based on the number of pages and vary from County to County) municipal searches and service fees that vary from company to company. Be sure to receive a written estimate of your title and related closing costs from your attorney before you sign your contract.

10/07/2021

Not all real estate attorneys are alike. Some are not qualified to handle a transaction from start to finish. The attorneys experience in real estate matters is the most important consideration. Choose Michael M. Walsh!

09/21/2021

Q: What does escrow mean?
A: In NY, escrow refers to someone holding money for someone else’s benefit. The purchaser's contract deposit paid when the contract is signed is held in the seller's attorney's escrow or trust account. The check is cashed so be sure the funds necessary for the check to clear have been transferred.

Happy Labor Day!
09/06/2021

Happy Labor Day!

Address

1688 Victory Boulevard
Staten Island, NY
10314

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm

Telephone

+17184423900

Website

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