Katz Law Partners, PC · Downstate New York

Closing Tools

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MattersThe office pipeline — every matter, its updates, ticklers, closing dates and retainer. Open a matter to work on its documents.Open › Closing adjustmentsProrate taxes, water, maintenance and rents by county and deal type, then print the Statement of Closing and the expected title bill.Open › Generate deedBargain and sale deed with covenant against grantor's acts. Fill in the parties and premises, print two letter-size pages with the acknowledgment.Open › Closing cost estimateA one-page, client-facing estimate of what the purchaser or seller should expect to pay at closing, on letterhead with a disclaimer.Open › Purchaser's riderThe firm's Second Rider for a house purchase — sent back with the seller's contract when we represent the purchaser. Parties, premises and attorneys come from the deal; click a paragraph to reword it. Residential contract of saleNYSBA form for a house with the firm's rider. Fill the blanks, pick the financing and rider terms, print the contract, signature page, rider and lead-paint exhibit.Open › Condo contract of saleNYC Bar / NYSBA condominium form with the firm's rider. Fill the blanks, pick the financing, print the contract, schedules, rider and lead-paint exhibit.Open › Co-op contract of sale2025 NYC Bar form with the firm's rider. Choose the options, fill the blanks, print the full contract, signature page, lead-paint exhibit and rider.Open › Letter of engagementRetainer letter and welcome packet — intake sheet, card authorization, cash acknowledgement — ready for Adobe Sign.Open › ContactsClients, agents, lenders and attorneys. Attach a contact to a deal and their details flow into every document.Open ›

Open a saved deal by Doc ID

printed at the top of the contract

One deal, every document. The premises, the parties, the attorneys, the price and the closing date are typed once, in the deal panel at the top of any tool, and the contract, deed, closing statement, estimate and engagement letter all read from it — change the price in one place and every document changes. Nothing you type leaves this page unless you press “Save to site”, which stores that deal on the firm’s own site behind the office PIN.

Deed

NYC public records fills grantor, block & lot — editable after
Pulls the grantees on the last deed recorded in ACRIS (the owners who must sign) and the DOF owner of record. Five boroughs only — this sends just the address to NYC's public APIs.

Deed

Bargain & sale with covenants

The grantor, grantee, premises, block and lot, title company and date of deed come from the deal above — the grantors are the sellers exactly as typed there, the date of deed is the closing date. Only what is particular to the deed is set here.

One line per seller named in the deal. Mark an entity and say who signs for it; the acknowledgment follows.

Prior deed recital

"being the same premises…"

Acknowledgment & recording

Deed preview

prints exactly like this, letter size

Prepared from the firm's Bargain and Sale Deed with Covenant against Grantor's Acts form. Confirm the grantor's name against the last deed of record and attach Schedule A from the title report.

Co-op contract of sale

Building & unit

2025 NYC Bar / NYSBA form + firm rider

Maintenance & closing

price, deposit, financing and the closing date are in the deal above

Occupants (¶ 1.23)

Rider terms

defaults are seller-max

Contract preview

click any paragraph to edit or strike it

Printed form text is the 2025 NYC Bar / NYSBA Contract of Sale – Cooperative Apartment, unaltered; only the fill-ins, the firm's rider and the lead-paint exhibit are generated. Review against the board's requirements and the purchaser's attorney's comments before sending.

Condominium contract of sale

Condominium & unit

NYC Bar / NYSBA condominium form + firm rider

Occupants (¶ 1.25) & schedules

Rider terms

defaults are the firm's

Contract preview

click any paragraph to edit or strike it

Printed form text is the NYC Bar / NYSBA Contract of Sale – Condominium Unit as used by the firm; the fill-ins, the schedules, the firm's rider and the lead-paint exhibit are generated. Review against the board's requirements and the purchaser's attorney's comments before sending.

Residential contract of sale

Premises & funds

NYSBA residential form + firm rider

Rider terms

defaults are seller-max

Since March 20, 2024 the $500 credit is gone — a seller of a 1–4 family house must give the purchaser a completed Property Condition Disclosure Statement before the contract is signed, unless the transfer is exempt (estates, foreclosures, new construction, transfers between co-owners or family, and the like).

Contract preview

click any paragraph to edit or strike it

Printed form text is the NYSBA Residential Contract of Sale as used by the firm; the fill-ins, the firm's rider and the lead-paint exhibit are generated. Attach Schedule A from the title report and review the purchaser's attorney's comments before sending.

Purchaser's rider (residential)

This rider

the firm's Second Rider, sent back with the seller's contract when we represent the purchaser

The parties, premises, the attorneys in ¶ 18 and the dwelling in ¶ 24 come from the deal above; the date is left blank because the contract is dated by the seller's office. Click any paragraph in the preview to reword or strike it for this deal only.

Rider preview

click any paragraph to edit or strike it

The firm's purchaser's rider to the NYSBA residential contract, as sent back to the seller's attorney. Against the office file: the "Intentionally Omitted" slots are gone and the paragraphs renumber; ¶ 4 refers to form ¶ 16(f) (the systems paragraph — 16(e) is broom-clean possession); the open-permits paragraph gives the purchaser, not the seller, the option to cancel; and four paragraphs the form lacks were added — walk-through, lender failing to fund (financed deals only), time not of the essence with adjournments, and counterparts / e-signature. The agreed-repairs paragraph prints last, when there are repairs.

Closing cost estimate

The estimate

client-facing — prints on letterhead with a disclaimer; the side, client, county, property type, price and loan come from the deal above

Estimated items

statutory taxes compute; the rest are typical figures — edit any line

Lender escrows (taxes and insurance), prepaid interest, adjustments with the other side and the first-year homeowner's policy are called out in the note under the table rather than estimated.

Estimate preview

one letter-size page

Transfer, mansion and mortgage recording taxes use the same statutory math as the closing adjustments tool. Everything else is a typical figure to be replaced by the title company's, lender's and managing agent's actual charges.

Contacts

People & firms

saved on the site, shared by the office

This deal

who's attached to the open transaction

Attach a contact above and they are on the deal — every document reads them from there.

Contacts is the one directory: everyone on a matter is here, once, under the role they play. Matters and deals link to a contact, they do not copy it. Nothing here goes on a printed document until you attach the contact to a deal.

Letter of engagement

The letter

prints on letterhead, then send by Adobe Sign — the client, the other party, the premises and the property type come from the deal above

Fees

letter defaults

Welcome packet pages

Attach the client, the real estate agent and the mortgage broker under Contacts — their address, cell, email and referral print on the intake sheet, and the same names flow into every other document.

Letter preview

letter + selected pages

Save as PDF and upload to Adobe Sign; the client completes the intake sheet, card authorization and signatures there.

Matters

Pipeline

Ticklers come from the follow-up date on the latest update. Contingencies flag 14 days out and turn red once expired without a commitment; closings flag 7 days out. Deposits on canceled matters can be applied to a new matter for 30 days.

Set up the deal

Saved to your computer only.
What the side changes here
In NY practice the seller's attorney prepares the adjustments, the buyer's attorney verifies them, and the bank's attorney audits the figures that touch the loan and brings the net proceeds. "We represent the" in the deal above sets the mode: seller builds the schedule to send out; purchaser and lender add a "Their figure" column on the statement to check the proposed numbers line by line. Lender also unlocks a net loan proceeds card on the costs step and prints that figure on the statement's "Net Proceeds From Lender" line.
What this means
The usual New York convention adjusts as of 11:59 p.m. the day before closing — the seller pays for every day up to but not including the closing date, and the buyer pays for the closing day itself. Some contracts flip this. Check the adjustment clause in your contract of sale; if it says "adjustments as of the date of closing," the seller typically still pays through the day before.
What this means
30-day months treats every month as 30 days — the common convention on adjustment sheets, and the default here. Actual days divides each bill by the real number of days in its period (a 31-day month divides by 31). The differences are small; what matters is that both attorneys use the same convention.

Real estate taxes

Real estate taxes

auto-detects the period
How NYC taxes work at closing
NYC's tax year runs July 1 – June 30. Properties with an assessed value of $250,000 or less are billed quarterly (due July 1, Oct 1, Jan 1, Apr 1 — each bill covers the quarter that starts on the due date). Higher-assessed properties are billed semi-annually (July 1 and Jan 1). If the seller paid the bill covering the closing date, the seller gets back the buyer's share of that period. If the bill is open, it is usually paid off at closing out of the seller's proceeds and the buyer credits nothing — but if the buyer will pay it after closing, the buyer gets a credit for the seller's days. Watch for exemptions (STAR, veterans, clergy) on the bill: adjust on the net amount actually payable.

Maintenance

Maintenance

Per the managing agent's statement.

How this adjustment works
Maintenance and common charges are billed monthly, in advance, on the 1st. If the seller paid the month, the seller is out-of-pocket for days the buyer will own the unit, so the buyer credits the seller for the closing day (or the day after, per your convention) through month-end. If the month is unpaid, it flips: the buyer will pay the full month, so the seller credits the buyer for the seller's days. A special assessment billed monthly adjusts the same way — but first check the contract: many riders make assessments the seller's responsibility entirely, in which case leave it out of the proration and handle it as a payoff.

Water, sewer & fuel

Water & sewer

NYC: order a final DEP meter reading — prorate only unmetered accounts.
Why water is handled differently
Water is metered, so nobody knows the exact charge through the closing date until a final reading. The clean solutions are a final reading billed to the seller, or an escrow holdback from seller's proceeds sized to cover the last bill plus a cushion. Proration off the prior bill is a fallback. Unpaid water charges become a lien on the property, which is why title companies raise them — clear them at closing.

Fuel oil / propane in the tank

buyer reimburses seller
How this adjustment works
Simple multiplication, no proration: gallons × current price per gallon, credited to the seller. Use the supplier's current cash price, not what the seller paid months ago. Natural gas and electric are not adjusted — the seller closes their utility account and the buyer opens a new one.

Rents & security

Rents & security deposits

One row per tenant. Deposits transfer in full.

How rent and deposits work at closing
Rent is paid in advance on the 1st, and the buyer owns the property (and the right to that rent) from the closing day on. So for each unit where the seller collected the month, the seller credits the buyer the buyer's share of that month's rent. If a tenant hasn't paid, there is no adjustment — arrears stay the seller's problem unless the contract assigns them. Security deposits (plus accrued interest, for interest-bearing accounts) are turned over to the buyer as a credit at 100% — GOL §7-103 makes the buyer the trustee of those funds the moment they take title. On commercial deals, also check for prepaid rent, tax/CAM escalations billed in advance, and utility or license deposits — add those as custom lines.

Anything else

Anything else

One-offs — e.g. condo working capital, prepaid HOA dues, a Suffolk village tax.

Seller's mortgage payoffs

from proceeds

Per the payoff letters. Prints on the payoff lines and comes off the net to seller.

Adds a step and a second printed page. Leave off for adjustments only.

Transfer taxes & closing costs

Separate from the adjustments. Taxes compute from the sale price.

Statutory transfer taxes

computed from sale price

Enter a sale price on the setup step to compute these.

The mortgage recording tax uses the loan amount in the deal above — leave it blank for an all-cash purchase.

How these are computed
NYS transfer tax (seller): $2 per $500 of consideration (0.4%), rounded up to the next $500. In NYC only, the rate is 0.65% for residential deals of $3M+ and commercial deals of $2M+. NYC RPTT (seller, five boroughs only, co-ops included): residential 1% up to $500,000, 1.425% above; commercial 1.425% / 2.625%. Mansion tax (purchaser, residential $1M+): flat 1% outside NYC; in NYC it's a bracket by price — 1% from $1M, 1.25% at $2M, 1.5% at $3M, 2.25% at $5M, up to 3.9% at $25M+. Mortgage recording tax (purchaser, none on co-op loans): NYC residential 1.8% under $500k / 1.925% at $500k+ of the loan, Nassau & Suffolk 0.80% (the lender pays its own 0.25% on top); 1–2 family houses get a $30 credit. Westchester: mortgage tax 1.3% (Yonkers 1.8%) with the same lender share; Yonkers, Mount Vernon and Peekskill add city transfer taxes — enter those as fees. Sponsor/new-development contracts often shift the seller taxes to the purchaser — check the contract. A "1–4 family" house that's actually 4-family is taxed at commercial rates; confirm before relying on these.

Recording & closing fees

editable — estimates

Typical figures for this county and deal type — edit freely. Changing county or deal type resets the list.

Read the statement

Pick a closing date above and the statement will build itself here.

Closing costs — taxes & fees

estimates

Enter a sale price (and any fees on the costs step) and this section builds itself.

County tax calendars — quick reference

NYC (all five boroughs)

  • Tax year: July 1 – June 30
  • AV ≤ $250k: quarterly — due Jul 1, Oct 1, Jan 1, Apr 1 (each covers the quarter ahead; 15-day grace)
  • AV > $250k: semi-annual — due Jul 1 & Jan 1
  • Adjust on the net bill after exemptions/abatements

Nassau

  • School tax year: Jul 1 – Jun 30 · 1st half due Oct 1 (to Nov 10), 2nd half due Apr 1 (to May 10)
  • General tax year: Jan 1 – Dec 31 · 1st half due Jan 1 (to Feb 10), 2nd half due Jul 1 (to Aug 10)
  • Villages: separate levy, own calendar — check title report

Westchester

  • County/Town: calendar year, billed April (some towns in installments)
  • School: Jul 1 – Jun 30, billed Sept (+ Jan installment in most towns)
  • Village: Jun 1 – May 31, billed June
  • Varies by town — confirm on the bill

Suffolk

  • Tax year: Dec 1 – Nov 30, one combined bill
  • 1st half (Dec–May): due by Jan 10 without interest
  • 2nd half (Jun–Nov): payable through May 31
  • Villages bill separately where applicable

A worksheet, not legal advice — adjust from the actual bills and title report, and confirm conventions against the contract. Tax calendars verified September 2026.