Home Upcoming Events

Practical Skills - Purchases and Sales of Homes

- Location -
Holiday Inn Mt. Kisco
1 Holiday Inn Drive
Mount Kisco, NY 10549
(914) 241-2600

**THIS PROGRAM IS SOLD OUT**

This program offers a total of  7.0 MCLE Credits (3.5 professional practice; 2.5 skills; 1.0 ethics)

By Attending This Program You Will:

• Learn a fundamental but practical overview of handling a residential home sale or purchase
• Learn practical tips covering pre-contract issues; contract drafting; negotiation; financing; surveys; and more
• Hear discussion on the ethical issues related to sales of homes

Co-sponsored by the Real Property Law Section and the Committee on Continuing Legal Education of the New York State Bar Association

PROGRAM DESCRIPTION

This program provides a step-by-step guide as well as practical tips to attorneys in purchases and sales of homes, covering: pre-contract issues such as dealing with brokers and property inspection; clause-by-clause review of contract drafting and negotiation, including mortgage contingency clause issues; mortgage financing issues; title and survey examination and insurance; pulling it all together at the closing; and ethical issues related to sales of homes.

WHO SHOULD ATTEND

• All attorneys seeking a fundamental but practical overview of handling a residential home sale or purchase
• Attorneys practicing in the area of Real Property Law; Banking; Contracts.  May also be of interest to brokers or realtors.

AGENDA

8:30-9:00     REGISTRATION

9:00-9:10
1. OVERVIEW

9:10-9:35
2.  PRE-CONTRACT CONSIDERATIONS

A. Seller

1. Brokers listings and commissions
2. Sale terms and timing
3. Tax planning
4. Property Condition Disclosure Statement

B. Purchaser

1. Brokers’ agency disclosure
2. Inspection (PCDS)
3. Financing

C. Binders and the statute of frauds
D. Checklists

9:35-10:25
3. CONTRACT DRAFTING AND NEGOTIATION

A. Contract forms—local and statewide (alteration: Nassau Co. Op. 01-01)
B. Preparation of contract (broker or attorney)

10:25-10:35        BREAK

10:35-11:00
4. CONTRACT NEGOTIATION (continued)

C. Contract Issues: parties; property description; personal property; price and payment; escrow of down payment; title (marketable, fee simple, insurable) and permitted exceptions; property condition; compliance with law; deeds; time and place of closing;  financing and other contingencies; risk of loss; possession; smoke and c.o. detectors; lead paint; tenants; condominiums; new construction; and breaches and remedies.
D. Checklists

11:00-11:50
5. MORTGAGE FINANCING

A.  Types of lenders and types of loans
B.  Mortgage brokers, mortgage bankers and mortgage loan originators
C.  Representation of multiple parties
D.  Loan application and qualification
E.  Contract contingency clauses and compliance
F.  Loan commitment
G. Loan documentation

11:50-12:00        QUESTION AND ANSWER PERIOD

12:00-1:00        LUNCH (on your own)

1:00-1:50
6. TITLE EXAMINATION AND DISPOSITION OF OBJECTIONS

A. Examination of title: title abstract or commitment
B. Title policies: what is and what is not covered (2006 ALTA Policy)
C. Disposition of title objections
D. Endorsements and affirmative insurance (2006 endorsements)
E. Rates of insurance
F. Referrals and representation of multiple parties

1:50-2:15
7. SURVEY EXAMINATION

2:15-2:25        BREAK

2:25-3:15
8. ETHICS AND PROFESSIONALISM

A. Sources of the rules; ethics opinions
B. Conflicts: lawyer/client; between clients
C. Escrow account rules
D. Preserving client confidences
E. Communication, advertising and referrals
F. Engagement letters and arbitration of fees
G. Lawyers Fund for Client Protection 

3:15-4:05
9. PREPARATION FOR CLOSING; CLOSING; POST CLOSING MATTERS

A. Pre-closing matters (checklists)
B. Closing Matters (checklists)

1. Seller/Purchaser/Lender/Paralegals
2. Adjustments
3. Transfer and mortgage taxes
4. Title insurance and exceptions
5. FIRPTA
6. Casualty insurance
7. Closing forms (e.g., Monroe Co. fence agreement)
8. Attorney escrow accounts (NYSBA opinion 737)

C. Post-closing matters

1. Closing memorandum and statement
2. Title insurance policy and deed  
3. Tax reporting: 1099-S and income taxation of gain
4. Expressly surviving liabilities (merger defense)
5. Tax treatment of adjustments and expenses, etc.

4:05-4:15        QUESTION AND ANSWER PERIOD 

4:15        ADJOURNMENT

IMPORTANT NOTICE

PARTIAL CREDIT FOR PROGRAM SEGMENTS NOT ALLOWED.
Under the New York State Continuing Legal Education Board Regulations and Guidelines, attendees at CLE programs cannot receive MCLE credit for a program segment unless they are present for the entire segment. Persons who arrive late, depart early, or are absent for any portion of the segment will not receive credit for that segment.

CREDIT BREAKDOWN

• 3.5 Professional Practice (Topic 1, 2, 5*, 6, 7, 8, 11)
• 2.5 Skills (Topic 3, 4, 10)
• 1.0 Ethics (Topic 9*)
• * CPE

PROGRAM FACULTY

Overall Planning Chairs

• Scott A. Sydelnik, Esq., Davidson Fink LLP, Rochester, NY
• Karl B. Holtzschue, Esq., Law Office of Karl B. Holtzschue, New York, NY

Westchester (Mt. Kisco) Panel

Chair:

• Denise P. Ward, Esq., Grean & Ward, Port Chester, NY

Panel:

• Denise P. Ward, Esq., Grean & Ward, Port Chester, NY
• Robert J. Zaccagnino, Esq., Rye, NY
• Patrick J. Loftus, Esq., Freeman & Loftus RLLP, New City, NY
• Jean M. Partridge, Esq., Benchmark Title Agency, White Plains, NY
• Richard E. Grayson, Esq. Law Offices of Richard E. Grayson, White Plains, NY

MCLE CREDIT

7.0 Total Credits (3.5 professional practice; 2.5 skills; 1.0 ethics)

This course has been approved for MCLE credit in New York for all attorneys, including newly admitted (less than 24 months).

This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 7.0 hours of total CLE credit. Of these, 1.0 qualify as hours of credit for ethics/professionalism, and 0 qualify as hours of credit toward certification in civil trial law, criminal trial law, workers compensation law and/or matrimonial law. This course does not qualify under any of the nine specified new admit areas, in five of which New Jersey attorneys admitted in 2009 or thereafter, in their first full two-year compliance period, must take 15 of their 24 required credit hours (see BCLE Reg. 201:2).

This program has also been approved for MCLE credit by the State Bar of California and the Pennsylvania Continuing Legal Education Board for 5.0 credit hours of substantive law and 1.0 credit hour of ethics. All inquiries regarding MCLE credits may be directed to (518) 487-5606.

This course includes 1.0 credit hours for the Continuing Professional Education (CPE) requirements of New York and New Jersey CPAs. Sponsor numbers: New York: 000026; New Jersey: 20CE00099900.

The New York State Bar Association’s Committee on Continuing Legal Education has been certified by the New York State Continuing Legal Education Board as an accredited provider of continuing legal education in the State of New York.

ELECTRONIC COURSE MATERIALS (ECM)

COURSE MATERIALS FOR NYSBA CLE PROGRAMS ARE NOW DISTRIBUTED ELECTRONICALLY!

All program materials are distributed exclusively online in searchable PDF format, allowing attendees more flexibility in storing this information and allowing you to copy and paste relevant portions of the materials for specific use in your practice.  A CLE NotePad © (paper) will be provided to all attendees at the live program site.  The CLE NotePad © includes lined pages for taking notes on each topic, as well as any PowerPoint presentations submitted prior to printing.

Prior to a scheduled program date, all registrants will receive an email message containing a hyperlink that when clicked will provide you with access to the complete course materials in a searchable PDF format which can be downloaded to your computer using the “Save As” option under your “File” tab. Printing the complete materials is not required for attending the program. Online materials are updated periodically to reflect last minute submissions from program faculty, guaranteeing that you will always have the latest version of the materials.

Traditional printed course books may be ordered at the program site for a discounted price and will be shipped subsequent to the program date.

Directions

From Points North: Via I-684. Take I-684 south to exit 5 Saw Mill Parkway. Continue on Parkway 3.7 miles to "Kisco Ave." Exit 37. Make left off exit ramp onto Kisco Ave. Go under over pass, immediately after Volvo dealership, make left onto Holiday Inn Drive. From Points South: Via Saw Mill Parkway. Take Saw Mill Parkway north to 'Kisco Avenue' (exit 37). Make left off exit ramp onto Kisco Avenue. Make left onto Holiday Inn Drive (just after Volvo). From Points South: Via I-684. I-684 north to exit 4 Bedford/Mt. Kisco, make left off exit ramp onto Rte. 172. Travel to end of Rte. 172 facing (Northern Westchester Hospital) bear right onto Rte 117 and continue through town. Bear right near St. Mark's Church and continue on Rte 117. At traffic light/intersection at Applebee's make left onto Preston Way. End of Preston Way, at light, turn right onto Kisco Ave., Holiday Inn Drive is the second right.

Seminar
WC-REGISTRATION	$165.00

Seminar
WC-REGISTRATION	$265.00

Seminar
WC-REGISTRATION	$60.00

Accommodations for Persons with Disabilities:
NYSBA welcomes participation by individuals with disabilities. NYSBA is committed to complying with all applicable laws that prohibit discrimination against individuals on the basis of disability in the full and equal enjoyment of its goods, services, programs, activities, facilities, privileges, advantages, or accommodations. To request auxiliary aids or services or if you have any questions regarding accessibility, please contact Cindy O'Brien at 800-582-2452 or cobrien@nysba.org.