What are the key provisions of the purchase contract?
We think there are four key provisions of a real estate contract. Obviously the price, what is included in the sale, the mortgage contingency date and the closing date. The price is negotiated before they come to the attorney as are the inclusions, but the mortgage contingency date is typically decided between the attorneys. It’s either 30 or 45 days. And then the closing date is typically 60 days out, but that’s a target date. It’s not a hard and fast date in New York.
Share This Page:
Matt, Thanks for everything . . . and most of all being such a good listener and calm spirit – I really appreciate it. My best to you and yours
Michelle, Thank you so much for your help during our home buying process! As first time home owners we had so many questions and your patience and responsiveness made the entire process easier and more transparent. ...
Jim, Just a note to thank you again for all your help. We appreciate all you did to make our closing as smooth as possible. Thanks again and we will talk to you soon.
Matt, Thank you for all the help you’ve given us over the past few months. We know these aren’t the easiest of deals right now and ours had some twists and turns . . . but we appreciated having you there to guide us along the way. We just wanted to say “Thank You.”
Dear Jim, Thank you so much for all your help, your professionalism and the champagne. Boy, did we need the bubbly after all that signing! See you around the neighborhood.
Matt received his JD from Pepperdine University School of Law in 1991. His primary practice areas include Real Estate, Trusts & Estates, which includes the use of estate planning tools such as Wills, Revocable Living Trusts, Health Care Proxies, Living Wills...read more
James T. Meyer
Jim’s practice areas include Trusts & Estates, Elder Law, Real Estate, Business Law and Litigation. He has been an Arbitrator with the National Association of Securities Dealers (NASD) since 1994 and represents clients in Securities Industry Arbitrations at...read more