Selling Your Brooklyn Home? Avoid These Legal Mistakes
Introduction – The Brooklyn Real Estate Market
Selling a home in Brooklyn can be an exciting but complex legal process. The borough’s real estate market is competitive and fast-moving, but legal mistakes can delay closings, cost sellers thousands of dollars, or even result in lawsuits. Whether you’re selling in Bensonhurst, Gravesend, Dyker Heights, or Bay Ridge, avoiding legal pitfalls is crucial.
Further Reading: Tips and Suggestions Before Selling Your Home in NY
Common Legal Mistakes When Selling a Home in Brooklyn
1️⃣ Failing to Disclose Property Defects
New York law does not require full property disclosure, but sellers who intentionally hide major issues (e.g., water damage, foundation problems, or illegal renovations) may face lawsuits even after the sale closes.
📌 Example: If a homeowner in Bay Ridge sells a brownstone but fails to disclose a basement flood history, the buyer can later sue for misrepresentation. The safest approach is transparency.
✅ Solution: Provide a property condition disclosure statement or work with a real estate attorney to avoid liability.
2️⃣ Not Resolving Title Issues Before Listing
Many Brooklyn homes, especially older properties, have title defects that must be resolved before closing.
📌 Common title issues:
✔ Unpaid property taxes
✔ Unreleased mortgages
✔ Inheritance disputes
✔ Encroachments from neighbors
✅ Solution: Before listing your home, work with an attorney to conduct a title search to uncover and resolve issues before they delay a sale.
3️⃣ Not Understanding NYC Transfer Taxes and Fees
New York City imposes transfer taxes when a property is sold. If you don’t account for these costs, you could end up with less money at closing than expected.
📌 Example: A Gravesend homeowner selling a condo for $850,000 must pay NYC and NY State transfer taxes, totaling approximately 1.825% of the sales price, or $15,512.
✅ Solution: Get a closing cost estimate upfront so you are not surprised by last-minute fees. Review some Sellers’ Guides in advance.
📞 Thinking about selling your Brooklyn home? Contact us to ensure a legally smooth transaction!
call: 347-692-0222 | email: 7622LAW@gmail.com