Discover how buying and selling property in New York is evolving, and how Beycome will soon make the process faster, simpler, and far more affordable.
Buying or selling a home in New York is a major move — exciting, but full of legal details that can quickly turn stressful or expensive. From contract terms to title issues to closing costs, a single oversight can derail a deal or cost thousands.
Whether you’re handling the sale yourself or preparing to buy, getting the legal steps right matters. And while Beycome isn’t live in New York yet, everything we outline below is exactly what our platform will help homeowners and buyers manage seamlessly once we launch.
1. Reviewing the Contract of Sale
The contract defines what both sides must do — and what happens if something goes wrong. Many New Yorkers sign before fully understanding the terms. Before you do, make sure you review:
Ambiguous language: Contracts often include vague or unclear wording. If something doesn’t make sense, ask. Never assume.
Contingencies: Financing, inspections, appraisal, condo/coop approvals — every contingency has deadlines and consequences. Know what you must meet and what the other party must deliver.
Deposit terms: The buyer usually pays earnest money when signing. Buyers can get this refunded under certain conditions (like inspection issues), but only if the contract clearly allows it. Understand the rules before transferring a dollar.
Beycome note: Once active in New York, our platform will break down every contract term in simple language, so owners and buyers know exactly what they’re agreeing to, no surprises, no fine-print traps.
2. Conducting Property Due Diligence
A smart New York buyer never purchases a property without digging deep. Due diligence helps confirm the property’s value and uncovers potential issues early.
Property condition: From roof to plumbing to foundation, get a full inspection. For land or mixed-use property, check zoning and permitted uses.
Title search: You must confirm that the seller actually owns the property and that no liens, easements, unpaid taxes, or other claims affect the title.
Survey and boundaries: A survey reveals boundary lines, encroachments, and easements — especially important in dense or irregular New York lots.
Local laws and taxes: NYC taxes and village/town/county taxes vary widely. Understand how they’re calculated, when they’re due, and what exemptions you may qualify for.
Insurance & utilities: Get estimates for insurance and utilities; investigate the property for unusual service restrictions.
Beycome note: Our platform already automates due diligence steps in other states. When we enter New York, expect the same: one dashboard, all the tasks, zero confusion.
3. Navigating New York–Specific Requirements
New York has complex real estate laws, some of the most complicated in the country. Understanding them keeps your transaction smooth and compliant.
Required disclosures: Sellers must disclose issues related to structure, utilities, flooding, environmental hazards, and more. This includes ownership details, easements, and known defects.
Transfer taxes and fees: State transfer taxes are typically on the seller, but not all the time. NYC also has its own recording tax and other fees depending on the property type.
Condos & co-ops:
For condos: sellers must disclose past building issues and environmental details.
For co-ops: boards don’t have to volunteer information unless specifically asked — meaning buyers must do extra homework.
Beycome note: Once live in NY, we’ll integrate all state and city-specific disclosures, helping sellers avoid mistakes and helping buyers get a clear picture of what they’re purchasing.
4. Closing the Deal
Closing is where money and documents change hands and ownership officially transfers. Here’s what to expect:
Estate planning update: A home is a major asset. Update your will, trust, or estate plan. If your estate strategy includes a life estate, it’s crucial to understand who owns the property in a life estate and how your retained rights or your heirs’ remainder interest work.
Insurance updates: Sellers should cancel their policy once the deal closes. Buyers should confirm their coverage starts on closing day.
Organize your documents: Store all closing records, deed copies, insurance documents, surveys, and contracts securely.
Tax awareness: Track changes in property taxes, capital gains rules, and local tax regulations — they shift often in New York.
Beycome note: In states where we operate today, closings are fully streamlined and guided by our platform + our title team. Expect the same simplicity when Beycome lands in New York.
5. Post-Closing Steps
Once the property changes hands, a few final tasks help protect your rights and avoid issues later.
Estate planning update: A home is a major asset. Update your will, trust, or estate plan. If your estate strategy includes a life estate, it’s crucial to understand who owns the property in a life estate and how you retained rights or your heirs’ remainder interest work.
∙Insurance updates: Sellers should cancel their policy once the deal closes. Buyers should confirm their coverage starts on closing day.
∙Organize your documents: Store all closing records, deed copies, insurance documents, surveys, and contracts securely.
∙Tax awareness: Track changes in property taxes, capital gains rules, and local tax regulations — they shift often in New York.
How Legal Guidance Helps — and How Beycome Will Simplify It
New York real estate can feel overwhelming, but you don’t need to navigate it alone. Attorneys ensure your contract is fair, your title is clean, and your closing stays on track.
Beycome is built to take that clarity even further:
- Guiding you step-by-step,
- Simplifying legal language,
- Preventing costly mistakes,
- Connecting you with title services,
- and helping you sell or buy with commission-free.
We’re not in New York yet — but when we arrive, expect the same streamlined experience that already helps thousands of homeowners save big in other states.