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Who prepares the Contract of Sale in Manhattan New York?
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.
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, ... more

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