New York City Purchase & Sales Agreements Attorney
Practice Areas
Buying or selling a residential property, whether it’s a starter home, a larger family home, a condo, or a townhouse, is an exciting venture. For a property purchase or sale to be considered valid in New York, buyers and sellers are required to adhere to strict regulations and sign a written contract of sale.
If you are looking to start a residential real estate transaction, it’s important to consult an experienced real estate attorney who can guide you through New York’s real estate statutes. At Base Legal Group, we serve buyers, sellers, property owners, and businesses, helping them structure transactions, resolve issues, and close real estate deals.
Located in White Plains, New York, we serve clients throughout all five boroughs in New York City as well as Westchester County and Rockland County. Contact us today to schedule a free 15-minute phone consultation.
New York Law for Purchases & Sales
In New York, real estate purchase and sale agreements are valid and legally binding only once the buyer and seller have both signed a written contract of sale, as established under New York General Obligations Law § 5-703. Without this document, the transaction will not be considered complete. New York law does not recognize verbal agreements or agreements negotiated under broker offer forms.
When drafting a real estate purchase or sale agreement, New York typically follows specific regulations to improve clarity and allow room for negotiation. Most agreements include contingency clauses that allow buyers to cancel the purchase and have their deposit returned if they cannot obtain a loan, discover significant title defects, or uncover property defects during an inspection.
Additionally, many residential real estate agreements include short-term review periods during which both the buyer and seller can review the contract with their attorney to modify terms, negotiate changes, or cancel the agreement, if necessary.
If you are looking to buy or sell a residential property in New York City, our attorney at Base Legal Group has the knowledge and experience to help you find the right property, review your contract, and guide you through your real estate transaction. Contact us today to schedule a free 15-minute consultation.
Buying or Selling a Residential Property in New York?
Our Purchase & Sale Agreement Services
At Base Legal Group, we are a modern real estate firm that handles residential real estate transactions and provides outside general counsel services for real estate-related businesses. Whether you are looking to buy or sell a property, the primary services we offer for purchase and sale agreements include the following:
Preparing documents: Our attorney can help you draft and modify comprehensive purchase and sale agreements, including writing custom clauses and defining timelines, that represent your best interests and comply with New York law.
Reviewing agreements: We can help you review your agreement before you sign to identify unfair terms and clauses, determine what happens to your deposit if the deal falls through, and verify that the sale meets New York’s statutory regulations.
Conducting title searches: Our attorney can conduct a thorough title search to verify ownership and help you identify any unknown liens, encumbrances, or disputes that could impact your ownership or sale.
Reviewing lender documentation: We can work with your bank or loan officer on your behalf to make sure your loan and mortgage documentation is complete and accurate before moving forward.
Closing representation: We will represent you during closing to make sure you understand the terms of your purchase or sale agreement before signing.
Whether you are buying or selling a property, our New York real estate attorney is dedicated to supporting your transaction and protecting your rights. We won’t just simply review your purchase or sale agreement documents. Our goal is to understand the deal behind them and help you advocate for the outcome you want.
How Our Firm Can Help
Real estate transactions are rarely just legal matters. They involve financing, valuation, timing, risk analysis, and negotiation, all of which will influence whether the transaction succeeds. For example, a purchase or sale agreement may allocate risk but still result in a bad investment without the right guidance and insight.
At Base Legal Group, we approach real estate transactions with one question in mind: what are you actually trying to accomplish? With a business background, our attorney uses that knowledge to work backward from your objective and determine the right legal strategy for your transaction.
Many traditional law firms are organized around the practice of law. Our firm is organized around you and your transaction. We combine our resources and experience with strong processes, responsive communication, and financial strategies to help you not only document your transaction but execute it.
Contact Our Experienced New York Residential Real Estate Attorney
If you are looking to buy or sell a residential property in New York City, our attorney, Jeffrey Ferguson, is dedicated to guiding you through your residential purchase or sale. Whether you are buying or selling a home, need assistance closing on a new development unit, or are looking for ongoing legal counsel, we are ready to assist.
Located in White Plains, New York, we serve clients throughout all five boroughs in New York City as well as Westchester County and Rockland County. Contact us to schedule a free 15-minute phone consultation.