New York Residential Real Estate Purchase and Sale Agreement
A New York purchase and sale agreement outlines the terms of a property transaction between the buyer and seller. It serves as a legal document for the buyer to present their offer to the seller for their consideration. Following this, the seller may either accept, reject, or make a counter-offer. However, it is pertinent to note that before the acceptance of the offer, the buyer must receive a Property Disclosure Statement from the seller. This statement provides crucial information about the property known to the seller.
The Property Disclosure Statement serves as a tool for ensuring transparency and accountability between both the buyer and seller in real estate deal. As such, it is a vital aspect of the entire process and demands due attention from all parties involved.
Lead-Based Paint Disclosure Form
Property Condition Disclosure Statement
Source: § 462
What is not covered?
The breakdown of fees in the purchase agreement document is not covered. Refer to the closing statement.
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