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Important Conditions and Clauses to Include when Making an Offer on a Home

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    The use of this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


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    Important Conditions and Clauses to Include when Making an Offer on a Home 

    When making on offer or signing a contract to purchase a home it is important that certain clauses and conditions are included in the terms of your offer. The home buying process can be overwhelming and overlooking the details may prove to be detrimental. In order to ensure you’re protected, it is imperative that you consult with a New York City real estate attorney when making a purchase. Below is a breakdown of the most important conditions and clauses that should be included in your purchase agreement.

     
    Finance Terms
     
    If you’re like most people and need to obtain a mortgage in order to buy a home, your purchase offer should clearly state that your offer is contingent upon securing financing. If you’re obtaining a certain kind of loan such as an FHA or VA loan, be sure to specify this in your contract. If you’re paying all cash, be sure to state this in your offer as it is very attractive to sellers and can give you a leg up on the other buyers. If you’re unsure what type of finance terms you should include in your contract, simply consult your NYC real estate lawyer for advice.

     
    Closing Costs & Fees
     
    When consulting with your NYC real estate attorney, be sure to discuss whether the buyer or seller will pay for certain fees like escrow fees, title search fees, title insurance, notary fees, transfer tax, etc. If you want the seller to pay a part or all of your closing costs, you must specify this in your contract. 

    Home Inspection
     
    A home inspection contingency is an extremely important condition to include in your contract and/or offer as it allows you to “walk away” from the deal should the home need significant work or bears severe structural damage.

    Appliances
     
    If you want certain appliances like the stove, washing machine, dryer, refrigerator, or any other fixtures, be sure to state it in your offer. Do not rely on a verbal agreement with the seller when it comes to what should stay, and what should go.

     
    Closing Date
     
    Your New York City real estate attorney will likely advise you on what is an appropriate closing date depending on your arrangement with the seller, but it typically ranges anywhere from 30-60 days. When closing on a home, it’s important to specify the closing date as you may need to relocate, sell your current home, have a remaining term on a lease if you’re a renter or have a host of other issues that need attention before you’re ready to move.   
     
    The bottom line is simple when it comes to making an offer and including the proper terms and conditions: don’t agree to or offer what isn’t feasible for you. A good nyc real estate lawyer will make sure all of your bases are covered, but you must be upfront and honest about your expectations and what you can afford. While a skilled attorney will not leave any details out of your contract, it is always good to educate yourself on the key components to buying a home.

      Contact Us


      The use of this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


      * Required fields  

       > News

      Important Conditions and Clauses to Include when Making an Offer on a Home 

      When making on offer or signing a contract to purchase a home it is important that certain clauses and conditions are included in the terms of your offer. The home buying process can be overwhelming and overlooking the details may prove to be detrimental. In order to ensure you’re protected, it is imperative that you consult with a New York City real estate attorney when making a purchase. Below is a breakdown of the most important conditions and clauses that should be included in your purchase agreement.

       
      Finance Terms
       
      If you’re like most people and need to obtain a mortgage in order to buy a home, your purchase offer should clearly state that your offer is contingent upon securing financing. If you’re obtaining a certain kind of loan such as an FHA or VA loan, be sure to specify this in your contract. If you’re paying all cash, be sure to state this in your offer as it is very attractive to sellers and can give you a leg up on the other buyers. If you’re unsure what type of finance terms you should include in your contract, simply consult your NYC real estate lawyer for advice.

       
      Closing Costs & Fees
       
      When consulting with your NYC real estate attorney, be sure to discuss whether the buyer or seller will pay for certain fees like escrow fees, title search fees, title insurance, notary fees, transfer tax, etc. If you want the seller to pay a part or all of your closing costs, you must specify this in your contract. 

      Home Inspection
       
      A home inspection contingency is an extremely important condition to include in your contract and/or offer as it allows you to “walk away” from the deal should the home need significant work or bears severe structural damage.

      Appliances
       
      If you want certain appliances like the stove, washing machine, dryer, refrigerator, or any other fixtures, be sure to state it in your offer. Do not rely on a verbal agreement with the seller when it comes to what should stay, and what should go.

       
      Closing Date
       
      Your New York City real estate attorney will likely advise you on what is an appropriate closing date depending on your arrangement with the seller, but it typically ranges anywhere from 30-60 days. When closing on a home, it’s important to specify the closing date as you may need to relocate, sell your current home, have a remaining term on a lease if you’re a renter or have a host of other issues that need attention before you’re ready to move.   
       
      The bottom line is simple when it comes to making an offer and including the proper terms and conditions: don’t agree to or offer what isn’t feasible for you. A good nyc real estate lawyer will make sure all of your bases are covered, but you must be upfront and honest about your expectations and what you can afford. While a skilled attorney will not leave any details out of your contract, it is always good to educate yourself on the key components to buying a home.
       > News

      Important Conditions and Clauses to Include when Making an Offer on a Home 

      When making on offer or signing a contract to purchase a home it is important that certain clauses and conditions are included in the terms of your offer. The home buying process can be overwhelming and overlooking the details may prove to be detrimental. In order to ensure you're protected, it is imperative that you consult with a New York City real estate attorney when making a purchase. Below is a breakdown of the most important conditions and clauses that should be included in your purchase agreement.

       
      Finance Terms
       
      If you're like most people and need to obtain a mortgage in order to buy a home, your purchase offer should clearly state that your offer is contingent upon securing financing. If you're obtaining a certain kind of loan such as an FHA or VA loan, be sure to specify this in your contract. If you're paying all cash, be sure to state this in your offer as it is very attractive to sellers and can give you a leg up on the other buyers. If you're unsure what type of finance terms you should include in your contract, simply consult your NYC real estate lawyer for advice.

       
      Closing Costs & Fees
       
      When consulting with your NYC real estate attorney, be sure to discuss whether the buyer or seller will pay for certain fees like escrow fees, title search fees, title insurance, notary fees, transfer tax, etc. If you want the seller to pay a part or all of your closing costs, you must specify this in your contract. 
      Home Inspection
       
      A home inspection contingency is an extremely important condition to include in your contract and/or offer as it allows you to “walk away” from the deal should the home need significant work or bears severe structural damage.
      Appliances
       
      If you want certain appliances like the stove, washing machine, dryer, refrigerator, or any other fixtures, be sure to state it in your offer. Do not rely on a verbal agreement with the seller when it comes to what should stay, and what should go.

       
      Closing Date
       
      Your New York City real estate attorney will likely advise you on what is an appropriate closing date depending on your arrangement with the seller, but it typically ranges anywhere from 30-60 days. When closing on a home, it's important to specify the closing date as you may need to relocate, sell your current home, have a remaining term on a lease if you're a renter or have a host of other issues that need attention before you're ready to move.   
       
      The bottom line is simple when it comes to making an offer and including the proper terms and conditions: don't agree to or offer what isn't feasible for you. A good nyc real estate lawyer will make sure all of your bases are covered, but you must be upfront and honest about your expectations and what you can afford. While a skilled attorney will not leave any details out of your contract, it is always good to educate yourself on the key components to buying a home.

        Contact Us


        The use of this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


        * Required fields  

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