Real Estate
David L. Henehan is a member of the Real Estate Section of the New York State Bar Association.
- Purchases
- includes drafting or review and approval of purchase contracts, examination of title, arrangements for title insurance, preparing for and attending closing, preparation of attorney title opinion letter.
- Sales
- includes drafting or review and approval of sales contracts, ordering surveys, ordering abstract redates, ordering tax searches; drafting deeds and all other seller‘s documents, preparing for and attending closing, payoff any outstanding mortgage, remitting net sales proceeds to clients.
- Family Transfers
- these apply when a person wants to add another person to the title or when a senior wants to transfer title to his or her children with a retained life estate for Medicaid planning purposes; the legal services include preparing and recording/filing a deed and the two required documents to complete the transaction.
- Leases
- involves drafting or reviewing a proposed lease between a Landlord and Tenant(s). The property may be either residential or commercial property.
- Options
- frequently involve drafting a lease with an option to buy. Thus it involves drafting two documents: a lease and a purchase and sale agreement with an option to purchase the leased property. Sometimes the option does not involve a lease, but is only an option agreement with an attached purchase and sale agreement.
- Title Insurance
- David L. Henehan is a licensed title insurance agent under New
York Insurance Law (License No. TLA-1347636). As such, he is
authorized to examine real estate titles and write preliminary
title insurance reports for owner's and mortgagee's title insurance
policies to be issued by Chicago Title Insurance Company. He is
paid for such services out of the title insurance premium due to
the title insurance company.
The link to the title insurer's premium rate calculator is: ratecalculator.fnf.com
Real Estate Fee Schedule
| Sales Price | Fee |
|---|---|
| 0–$49,999 | $450.00 |
| 50,000–$99,999 | $550.00 |
| 100,0000–$199,999 | $650.00 |
| 200,0000–$299,999 | $750.00 |
| 300,0000–$399,999 | $850.00 |
| 400,0000 & up | Increase fee $50 per $100,000 |
Fees for Purchase or Sale of Commercial Property
Commercial transactions are generally much more complicated than residential ones. Appropriate legal fees are assessed on a case by case basis.| Transaction | Fee |
|---|---|
| Building contract | Hourly |
| Deed/Family transfer | $400 |
| Memorandum of Trust | $75 |
| Discharge of Mortgage | $100 |
| Mechanics Lien | $300 |
| Mobile Home Transfer (no land) | $300 |
| Mortgage Refinance (with closing) | $400 |
| Mortgage Refinance (with closing, Chicago Title) | $300 |
| Mortgage Refinance (without closing) | $250 |
| Purchase Offer (draft or review before closing) | $125 |
| Construction Loan (with closing) | $400 |
| Construction Loan (with closing, Chicago Title) | $300 |
| Construction Loan (without closing) | $250 |
Additional services are available. Please inquire for more information.