I ran my 25th NYC Marathon, every one held since 2000. Here is what 26.2 miles has in common with a real estate closing.
By Pete Weinman, Esq.
On Sunday, November 1, I ran my 25th New York City Marathon. That is every NYC Marathon held since 2000. (The race was not held in 2012 or 2020, so the streak survives. I have reviewed the paperwork.)
This year also marked 50 years since the marathon first ran through all five boroughs. It still starts right here on Staten Island, which means every year thousands of people come to our borough specifically to run away from it. As a Staten Island lawyer, I try not to take that personally.
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A Promise I Have Never Kept
In 2009, the Staten Island Advance ran a short profile of me called "What Makes 'Em Run." I was 41, I had nine marathons behind me, and the profile listed my previous athletic experience as "None." I was training with up to 20 miles a week, plus some hills.
Here is what I told the reporter, and it is still true: "I enjoy it while it's happening -- the encouragement from the crowd, all of the different neighborhoods. I like high-fiving the kids. I just like being able to say, I did it!" I also admitted that after every marathon I say I will never do it again, and that I had been saying so since my first start in 2000.
Sixteen more marathons later, that promise has proven about as enforceable as a verbal agreement to sell a house. (In New York, a contract to sell real estate generally has to be in writing. Please do not rely on my marathon promises.)
You can read the original profile here: What Makes 'Em Run: Pete Weinman, silive.com.
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What 25 Marathons and 25+ Years of Closings Have in Common
1. The first bridge is the biggest climb.
The race starts with the Verrazzano-Narrows Bridge. It comes in the first couple of miles, when you feel great and the adrenaline is doing the thinking. A real estate deal works the same way. The early stage, when you are excited about the house and signing the contract, is where the biggest decisions get made. Price, contingencies, and riders are all easier to fix before you sign than after. In New Jersey, a built-in attorney review period gives you a short window to have a lawyer look things over. New York does not generally work that way, so if you are buying or selling here, get your attorney involved before you sign, not after.
2. Pace yourself.
Plenty of runners go out too fast and pay for it later. Plenty of buyers do the same thing with their budget. The purchase price is only part of what you pay. Closing costs can run several percent of the price on top of your down payment, so plan for them early. I wrote a full breakdown here: Closing Costs for Staten Island Home Buyers.
3. The middle miles are where things go wrong.
Deals rarely fall apart at the start or at the finish. The trouble shows up in the middle: an inspection surprise, a title problem, a mortgage commitment that is running late. If you want to know what usually trips people up, read Staten Island Home Closing Deal-Killers and What Can Delay a Closing.
4. Show up prepared for the finish.
At the end of the marathon, a volunteer hands you a medal and a foil blanket. At the end of a closing, someone hands you keys. Both feel better when you trained for them. Bring what you need, bring your ID, and bring your attorney. Here is a checklist: What to Bring to a Real Estate Closing in New York.
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The Takeaway
My website says I am the Staten Island attorney "with the endurance to run every New York City Marathon since the year 2000." I have been told it makes a good tagline. It also happens to be true.
Twenty-five marathons and more than 25 years of real estate closings have taught me the same thing from two directions: the people who finish well are the ones who planned for the hard part, not the ones who hoped it would not show up.
If you are buying or selling a home in Staten Island, Brooklyn, or New Jersey and want someone who has been over this course many times, I would be glad to help. Your first consultation is free. And if the streak continues, you will read about marathon #26 here. (Ask me again after I have recovered.)
Pete Weinman, Esq.
Weinman Law Offices, PC
260 Christopher Lane, Suite 201 | Staten Island, NY 10314
718-442-2010 | Weinman@StatenIslandLaw.com
Licensed in New York and New Jersey
#nyc marathon #staten island #real estate attorney #closing process #community
Legal Disclaimer (The "Please Don't Sue Me" Section): The things written in this blog post are for general information only; this is definitely not formal legal advice. I am not your lawyer just because you visited my website and scrolled to the bottom (sorry, it doesn't work that way). Also, laws change all the time, so what you just read might already be slightly outdated. Your specific life situation is probably complicated, so please don't rely on my blog post as a substitute for professional counsel from a licensed attorney you have actually hired. Finally, past results do not guarantee future outcomes, much like reading a fitness blog doesn't guarantee six-pack abs.
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