New York Real Estate Contracts

Real estate contracts are required and encouraged for the purchase, sale, or rent of a piece of real estate property throughout the United States between two parties. Real estate contracts should only be enforceable if they are in writing and are bilateral contracts. A bilateral contract is one that is agreed upon by two parties. The United States requires all real estate contracts to be in writing in able to enforce them and this is because of the Statute of Frauds. To record a deed on a real estate contract most areas within the United States require the signatures of the parties to be notarized. Real estate contracts, as with the majority of all other types of contracts, include an offer and an acceptance. One party makes the contract offer and the other party accepts the contract if they agree with the terms of the contract.

Are you interested in more information regarding your rights under New York Real Estate Contracts?  Contact one of the experienced New York Real Estate Contracts Attorneys with the law office of Weinstein, Chase, Messinger, & Peters today.

Real estate contracts have contingences, which are requirements that must be met for the contract to be carried out. Contingencies that must be met for a real estate contract to be carried out are a mortgage contingency, an inspection contingency, another sale contingency, appraisal contingency and a 72 hour kick out contingency. A real estate contract will also specify the date of closing and the possession of the title of the property. The closing date is when the two parties will meet and money or another financial consideration will be exchanged for the purchase of the property. Also during the closing date the title deed of the property will be transferred from the seller to the buyer of the property. The main items of a real estate contract include the following:

• Identifying the parties
• Identify the piece of real property
• Identifying the purchase price
• Include the signatures of the buyer and the seller
• Have a legal purpose
• Involve competent parties
• Reflect a meeting of the minds
• Include consideration

A New York Real Estate Contracts attorney will be able to help their clients make sure that they are not getting the raw end of a real estate deal, whether making a purchase or making a sale, along with witnessing the agreement of the contract and much more.

Are you interested in more information regarding your rights under New York Real Estate Contracts?  Contact one of the experienced New York Real Estate Contracts Attorneys with the law office of Weinstein, Chase, Messinger, & Peters today.