New York Real Estate Purchase Agreement Template

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The New York purchase agreement demonstrates the critical facts related to the sale of a residence for a predetermined financial sum. The commitment paperwork examines the circumstances appertaining to the transaction and the clausal intricacies therein. The covered information includes the buyer and seller names and contact specifics, along with the purchase price, earnest money, closing date and any additional terms to sale. Once the involved parties sign the purchase agreement, the deal can commence on the assigned closing date if all conditions are met.

Required Disclosures

Lead-Based Paint Disclosure (42 U.S. Code § 4852d) – The seriousness of potential contact with lead-based paints on the premises must be disclosed in accordance with federal law for homes built in 1978 or earlier. The required pamphlet and disclosure statement must be presented along with the contract and approved via a signature from the buyer(s).

Property Condition Disclosure Statement (§14-462) – State legislation imposes the obligation for the seller to properly inform the purchaser of a property of any structural, environmental, or alternative defects associated with the piece of real estate. The regulatory statutes require that the standard form, provided by the state of New York, is to be employed for disclosure with thorough completion and accurate information to the knowledge of the seller.

Realtor Version

Elmira-Corning Regional Board of Realtors Purchase and Sale Contract for Real Property Adobe PDF