REAL ESTATE PRACTICE
Practicing law since 1981, Mr. Petralia has acquired a broad range of experience in the civil area. However, the primary emphasis of his practice is real estate. Because of his close connection with local realtors, Mr. Petralia conducts a vibrant residential real estate practice, representing buyers, sellers and lenders. A resident of Westchester County for more than thirty years and real estate lawyer here since 1981, he is well versed in local rules and practice of all the communities. In addition, because of his professional and personal ties with the surrounding areas, Mr. Petralia is very familiar and has extensive experience in New York City transactions as well as Long Island practice, including the east end, where his family has owned homes since 1962. He handles purchases and sales of single family homes and multi family buildings. His practice also causes him frequently participate in real estate transactions in Putnam, Rockland, Dutchess Counties and occasionally in Ulster and Columbia Counties.
A solo practitioner with vast real estate experience, Mr. Petralia works with only a part time assistant. Thus, Mr. Petralia has intimate knowledge of all his files and has constant contact with his clients. Easily reachable by telephone and or email, Mr. Petralia himself performs all the legal services. Unlike other “real estate lawyers,” Mr. Petralia, without additional charge, will review inspection reports and assist clients in sorting out financing programs offered by lenders. He also will meet with clients in person to review the inspection report, the loan program and the contract. It is he, not a paralegal, who interfaces with the client, prepares all documents and attends the closing. As a teacher for more than 35 years, Mr. Petralia has a warm, approachable style. He is patient and courteous with all his clients.
Because he has extensive down state experience, Mr. Petralia is also well versed in cooperative apartment and condominium transactions. Known as a conscientious and thorough lawyer, Mr. Petralia always insists on reviewing offering plans, amendments, financial statements, by laws, rules and regulations of coops and condominiums.
Here is a list of services included in Mr. Petralia’s fees: review of your home inspection report; review and negotiation of the purchase contract and related documents, review of your mortgage program, review of contract with client; order and review of title report with necessary communications and correspondences with seller’s attorney, lender and title company; communications with seller’s attorney, title company, lender’s attorney, real estate agents, and other interested parties, including assistance in clearing loan commitment conditions; coordination of closing schedule, preparations for closing, pre closing instructions to client; attendance at the closing of your loan and purchase and preparation of a closing statement; review the offering plan, amendments and financials, by laws and rules and regulations, correspond with managing agent with any inquiries.
COMMERCIAL REAL ESTATE
Though Mr. Petralia’s office is located in White Plains, his practice is not a parochial residential practice. As former General Counsel of Sloan’s Supermarkets in Manhattan, Mr. Petralia gained extensive experience in both sales and acquisitions of commercial real estate transactions; he also acquired significant experience in the commercial leasing field. As an attorney for a vibrant real estate presence in New York, Mr. Petralia was constantly involved in sophisticated leasing and financing matters. In addition, his work as a Real Estate Attorney for Avis Rent A Car brought to Mr. Petralia experience in larger transactions He also acquired valuable and timely knowledge in the area of the environmental issues of underground oil storage tanks. This type of experience is rare among the local Westchester real estate attorneys, but Mr. Petralia is comfortable and knowledgeable in the commercial real estate arena. For those small owners, landlords and commercial tenants searching for an intelligent lawyer with experience in commercial sales and leasing, Mr. Petralia is an accessible, knowledgeable and competent alternative to costly, inaccessible attorneys of large firms.
Again, because Mr. Petralia is a solo practitioner, it is he who renders all the legal services and interfaces directly with the client. This is rare in the competitive real estate community.
Mr. Petralia also has extensive experience with IRC 1031 Exchanges, dating back to 1988 when he structured his first such transaction for a client selling and two family house and purchasing a commercial site on which a motor vehicle repair shop was being operating. He has worked with several exchange agents in transactions within New York as well as multistate exchange transactions.
LANDLORD TENANT PRACTICE
Mr. Petralia is well versed in landlord and tenant law. He assists both landlords and tenants in residential as well as commercial lease transactions and if necessary will represent client in summary proceedings in local courts.
COUNSEL TO MORTGAGE LENDERS
As part of his real estate practice, Mr. Petralia also is on the approved closing list for several of the area’s major residential lenders. A closing attorney for Wells Fargo Bank, Mr. Petralia has been closing their real estate loans since 1994. He is currently approved to close loans for Bank of America, NA., and Prospect Mortgage as well. His familiarity with real estate loan closings works to the benefit of his clients in reduced loan closing fees. He is familiar with FHA, VA, 203K loans and reverse mortgages.
Do you have questions or do you want to make an appointment in this area?
Call us at 914 949-5797 or use our contact form.