Real Estate

Staten Island Bank Attorney and Settlement Agent Facilitates Closings

Reliable representation for lenders

A tremendous amount of labor goes into preparing a real estate transaction, but it’s all for naught if the deal doesn’t close. Since 1997, William J. Newstad, Esq., Attorney and Counselor at Law has played an integral role in residential and commercial real estate closings in New York and New Jersey. Our experience extends beyond representing the interests of buyers and sellers to representing lenders at closings and acting as the impartial settlement agent to facilitate closings.

Lender’s counsel for commercial real estate closings

Banks and private lenders have to protect their interests in any real estate transaction they finance. As the banking attorney, we examine all aspects of the sale from the lender’s point of view. Whether the financing consists of a first mortgage, refinance or equity line of credit, we review all loan documents to ensure the terms and conditions are sound. We also review the title search. We then attend the closing to ensure the transaction is finalized according to the lender’s satisfaction.

We also assist banks in loan payoffs by preparing a payoff letter and other documents necessary to memorialize mortgage satisfaction. At closing, we oversee the transfer of certified funds from the borrower to the lender.

Reputable Staten Island attorney acts as settlement agent in NY and NJ

A successful closing requires oversight from a trustworthy, independent party capable of fulfilling certain fiduciary duties. William J. Newstad, Esq., Attorney and Counselor at Law acts as a settlement agent for commercial real estate:

  • Receiving deposits and holding those funds in trust
  • Drafting closing documents, including the Settlement Statement, and making sure all of the lender’s necessary terms and conditions are met
  • Assembling all pertinent legal documents
  • Reviewing the title search and survey to ensure defects are discovered and cured
  • Securing title insurance
  • Closing the loan for the lender

Contact a trustworthy Staten Island attorney to facilitate your real estate closing.

William J. Newstad, Esq., Attorney and Counselor at Law oversees commercial real estate closings on behalf of lenders and as a settlement agent.

William J. Newstad, Esq., Attorney and Counselor at Law maintains regular business hours in Great Kills Town, near the Great Kills train station. We’re open Monday through Friday, 9 am to 5 pm; Evening appointments available on Wednesdays. To schedule a consultation, call us at 718.815.5800 or contact our Staten Island office online.  We also maintain a satellite office in Downtown Staten Island/St. George across from the Staten Island Ferry Terminal by appointment only.  If you would prefer to meet at our satellite office please mention this when you contact our office.

office location

William J. Newstad, Attorney at Law
3884 Amboy Road
Staten Island, New York 10308
718.815.5800 Phone
888.419.1547 Fax
Read More »


William J. Newstad, Attorney at Law is located in Staten Island, NY and serves clients in and around Staten Island, Breezy Point, Brooklyn, New York, Jamaica, Rockaway Park, Ridgewood, Maspeth, Long Island City, Howard Beach, Middle Village, Sunnyside, Woodhaven, Ozone Park, Woodside, Arverne, Elmhurst, Rego Park, Astoria, South Ozone Park, South Richmond Hill, Richmond Hill, Jackson Heights, Kew Gardens, Forest Hills, Corona, East Elmhurst, Inwood, Springfield Gardens, Bronx, Bronx County, Kings County, Nassau County, New York County, Orange County, Queens County, Richmond County, Rockland County, Suffolk County and Westchester County.