For readers of attorney Craig A. Fine’s real estate coverage, the practical issue is preparation: what information will help the buyer, attorney, lender and other professionals discuss the same property and the same transaction? This article offers questions for that conversation, rather than conclusions about a particular purchase.
Start with the exact parcel and municipality
Keep the street address, municipality and parcel identifier together. A listing photograph is useful for recognizing the building, but it cannot establish the boundaries of the land included in a sale. Ask whether parking, a separate lot, a garage or an access route is included in the proposed transaction. Bring those questions to the professionals reviewing the documents.
Westchester County’s municipal parcel map service describes its boundaries as approximate and cautions against using them in place of a survey or property description. It also directs readers to the local assessor for authoritative tax maps. A map can help organize a question; it should not become the answer to a disputed boundary.
Separate the ownership record from the building’s condition
The county clerk’s Westchester Records Online service provides searches for land records and other filed documents. Those records belong in a different part of the review from inspection findings. A document search cannot tell a buyer whether a roof is leaking, and a satisfactory inspection does not explain every recorded interest affecting the property.
Ask counsel which deeds, mortgages, releases or other records are relevant, whether anything needs clarification, and who will obtain the missing material. Keep the document itself with the question. A screenshot of a search result or an informal summary may omit the language that the reviewer needs.
Describe the use you actually intend
A merchant considering a building should explain the planned operation in ordinary language. Will customers visit? Will equipment, deliveries, food preparation or renovations change the space? A buyer planning to live in a property should similarly identify any intended rental unit, conversion or major alteration.
The next discussion is which local records and approvals need investigation for that plan. Ask the appropriate municipal office and your advisers what records are available. Do not treat the previous occupant’s activity or a broker’s description as a complete answer to whether your particular plan can proceed.
Put unanswered questions beside the timetable
A useful working list has four columns: the question, the document needed, the person responsible and the next discussion date. Examples might include an unexplained access arrangement, a discrepancy between plans and the building, or a seller’s promise about repairs. This keeps a missing record from disappearing beneath routine closing correspondence.
Review contractual deadlines and any proposed extension with your attorney. An email saying that a matter is being investigated should not be assumed to change the agreement. Before treating an issue as resolved, ask what written response or completed step closes it.
Ask what title coverage does and does not address
The Consumer Financial Protection Bureau explains that owner’s title insurance protects a homeowner against certain pre-existing ownership claims or defects. It is distinct from lender’s coverage. Discuss the proposed policy, exceptions and questions with the professionals handling the transaction rather than assuming that the word insurance settles every concern.
Keep title questions separate from the physical inspection and your operating budget. For example, an unresolved question about a shared driveway, a needed roof repair and the cost of adapting a shop are three different questions, even when all three influence the purchase decision.
Bring a focused file to the conversation
Collect the proposed contract, listing, available plans, inspection materials, financing correspondence and a short description of the intended use. Mark uncertainty as a question rather than filling a gap with an assumption. The value of the file is that everyone can see what is known, what remains open and which professional is addressing it.
Continue with Craig A. Fine’s New York business and property guide. Send editorial questions to contact@allstatemerchants.com; do not send confidential case information.
Related reading: Craig A. Fine on Westchester County and real estate purchases and sales.
Primary sources
- Westchester County Clerk: Westchester Records Online
- Westchester County: municipal parcel mapping and limitations
- Consumer Financial Protection Bureau: owner’s title insurance
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Attorney advertising. This article provides general information, not legal advice, and does not create an attorney-client relationship. Laws and circumstances vary. Consult your attorney about your specific situation.
Craig A. Fine, Esq.
Attorney and founder of The Law Office of Craig A. Fine, P.C., licensed in New York, New Jersey and Florida. Contributor covering residential and commercial real estate, business law, contracts, landlord-tenant matters, litigation, wills, trusts and estate planning.
