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Residential Purchase And Sale Agreements

New York City Residential Purchase And Sale Agreements

When it comes to preparation or review of agreements related to the purchase or sale of single family residences, or Condominium Units or Cooperative Units, the law office of Steven R. Sutton is thorough and expert in navigating such transactions on your behalf.

A) As Purchaser's Counsel:

We are supremely careful, as purchasers, when responding to  “Time of the Essence” clauses, or provisions for “All Cash” purchases, and when reviewing the provisions to which the purchase is “subject to”, “As Is” clauses, or the exclusion of the phrase “or on about” when a seller is setting a date for closing.

Certainly, we will want, ideally, to make the sale subject to your obtaining a mortgage which is satisfactory to you, within a reasonable time, and setting a closing a reasonable time after that.

We are careful and thorough when reviewing relevant sections of a Condominium Plan or Cooperative Plan so the purchaser is not “hooked into”an unfair purchase, or provisions of such Plans that make it difficult for a Unit Owner to get proper services.

We will expect and demand, as a purchaser, adequate time to obtain and review title reports and violation reports, and will be sure to protect you, a buyer, from Violations or “Exceptions to Title”, that are unfair or that should not be a purchaser’s responsibility.

We work with an excellent and expert Title Company and will quickly obtain necessary title and municipal reports, and will thoroughly review them and communicate issues with alacrity with Seller’s counsel, with a view to dealing with title or other issues efficiently.

And we will be sure to secure adequate time to obtain a Termite Inspection and make the Seller appropriately responsible for such condition or any other undesirable condition.

In short, we will fight hard for a fair deal on your behalf as a buyer!

B) As Seller’s counsel:

As Seller’s counsel, on the other hand, we are careful to draft a “tight” Contract of Sale so that a shrewd Buyer’s counsel will not be able to delay a closing unnecessarily, and will be careful to protect you, as Seller, from unnecessary responsibility for conditions on the Property, other than the plumbing, heating and electrical systems being in working order and the roof free of leaks. On this side of the table, we will attempt to make the sale an “As Is” proposition, to the extent feasible and possible.

We have acted as Bank Attorneys for several Banks, and are well able to communicate effectively with Bank Counsel so that the “deal” moves along smoothly in accordance with the needs of Lenders and their counsel.

In short, we have represented buyers and sellers of such Properties and Units, as well as Lenders, and know how to secure a fair deal for purchasers, or a “tight” transaction for a Seller.

So whether you are a Buyer or a Seller of these types of Properties or Units, feel confident to contact the Law Office of Steven R. Sutton at the earliest possible time to thoroughly and aggressively protect your rights.

Call us today to schedule an appointment to discuss your case with us.

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