An intermediate analysis of the residential contract with a focus on aspects attorneys are frequently unaware of or ignore. It will begin with a review of the 'binder' as contract, and proceed with discussions of purchase money mortgages, a detailed look at the mortgage contingency clause, and the myths involved in the law of Certificates of Occupancy.

From the purchaser, seller and borrower’s perspective, review and explanation of the common documents presented for signature at closing to both buyer and seller. An approach to reviewing the note and mortgage with the borrower. A look at bank escrows and other bank boilerplate forms. Finally, a review of a HUD-1 RESPA form.

Comparisons and Contrast between these similar but different types of ownership. Included will be an attempt to answer: "Co-op owner - a glorified tenant?" A review of the rights and powers of a co-op board. Analysis of revised UCC Article 9. Detailed discussion of the condominium law, 339 Real Property Law, 339ee mortgage tax credits.

A survey of new laws and changing perspectives in real property law with a concentration on Equity Theft, Seller’s Concessions, Short Sales, and Bankruptcy Impact on Real Estate Transactions. The course will explore title requirements when an equity sale is detected. A review of the new ethics opinions affecting NY attorneys in transactions with seller's concessions. Finally, an analysis of the dangers involved in short sales.

An insider’s view of affirmative insurance, legal research, and other resources available to attorneys and their clients. What you agree to when you sign an escrow agreement. Why not get the same affirmative insurance the bank gets. How to avoid a cancellation charge if the deal falls through. Plus other benefits available to attorneys.