Who prepares the Contract of Sale in Manhattan New York?

Reblogger Morgan Evans
Real Estate Agent with Douglas Elliman Real Estate

We work with many out of town or international buyers, they usually have their own perception of how a deal is completed. Each market is different and Manhattan New York is very unique, so therefore there are a lot of difference. One of the biggest different is that we are Real Estate agents DO NOT prepare the contracts. Read below blog post for more details.

Original content by Eileen Hsu

Who prepares the Contract of Sale in Manhattan New York?

Every market has its own unique way of conducting Real Estate transaction purchase or sale. In Manhattan New York, It is customary for the Seller's attorney to prepare the contract or Purchase Agreement, once the contract is prepared, it will be send to buyer's attorney.
At that time, Buyer's attorney will review it with you (the buyer) and negotiate any necessary items with the Seller's attorney. This usually takes few days, if complicated, it can be few weeks. Once the contract has been fully negotiated, you (the buyer) will sign the contract with its appropriate disclosures and return to buyer's attorney along with a check for the down payment ( this is usually 10% of the sales price.

Every local Real Estate market has its own rules, laws and policies, by using the local experts, it will benefit you as the buyer or seller to have the most smooth transaction without stress or unexpected obstacles.

If you are looking to purchase a home in Manhattan New York, contact us today at (917)837-8869.

Other must read blogs before you buy a Manhattan New York condos:

  1. How to determine a good Manhattan NY Condo investment?
  2. Manhattan New York condos near NYU- New York University
  3. Buyer Checklist for Manhattan New York condos

 

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Eileen Hsu 許雅嵐 (email: EHSU(@)elliman.com)

We specialize in Manhattan New York Condominiums, townhouses, condops and cooperatives. We are condominium residents ourselves so we understand the Manhattan New York condominium community. We also enjoy all Manhattan neighborhoods, especially Upper West Side, Lincoln Square, Midtown East, Murray Hill, Financial District, Chelsea, Fifth Avenue, Greenwich Village, Nolita and etc just to name a few. If you or you know someone that may be interested in selling, buying or leasing their Manhattan New York condo, call us today (917)837-8869 or (646)644-6929 and we can discuss your specific Real Estate needs in private. Thank you.

To read more about Manhattan New York Real Estate, click on our websites below:

Manhattan New York Condo Specialists or Chinese Speaking Real Estate Agent

 

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Comments 4 New Comment

Rainmaker
1,759,053
Roy Kelley
Retired Real Estate Broker, Maryland Blogger

Home buyers do need to be educated on the process.  International buyers need extra help with the cultural process.

Have an outstanding week with your camera in hand.

May 21, 2012 05:18 AM
Rainmaker
1,278,178
Joan Cox
Denver Real Estate - Selling One Home at a Time
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373

Morgan, great information Eileen has prepared for you two professionals to do business in NYC!   Love your new photo!

May 21, 2012 01:02 PM
Ambassador
1,381,941
Jennifer Fivelsdal | Call 845-758-6842 Helping you achieve your real estate goals
In Dutchess Columbia and Ulster Counties
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571

Morgan - Eileen touched on a subject that can be a puzzle for many moving to New York from other states where attorneys are not used to prepare the contract.  So true that each local market handles things differently.

May 21, 2012 08:51 PM
Rainmaker
664,833
Will Nesbitt
Nesbitt Realty is a family-run brokerage.
Nesbitt Realty at Condo Alexandria

Very informative piece Morgan. Also like the photo - really good job of showcasing the architecture meeting the horizon

May 22, 2012 08:12 AM
Rainmaker
525,504

Morgan Evans

LICENSED REAL ESTATE SALESPERSON
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Additional Information

Licensed Real Estate Salesperson specialize in Manhattan Condominium market such as Resale Condominiums, New Construction condos and condops. We work with first time home buyers, foreign buyers, investors. We Specialize in neighborhoods: Upper West Side, Chelsea, Midtown West, Midtown East, Nolita, Lower East side, Greenwich Village, Soho, Union Square, Financial District in Manhattan.

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