Real Estate in New York

New York State has several real estate laws that differ from other areas of the country. For example, even if the buyer and seller both sign the buyer's offer, that does not mean that the offer is legally binding. In order for a sales agreement to be legally binding in New York State, it has to be a separate document from the offer sheet. The buyer or seller could legally walk away from a signed offer sheet simply because it is not considered to be the final and binding sales contract.

Once a sales agreement is signed in New York State, the buyer is required to come up with a downpayment of 10 percent of the purchase price. The unique aspect of this downpayment is that it is in addition to any downpayment the buyer promised the bank that is funding the deal. There is a period of time after the sales contract is signed that the buyer can walk away from the deal, but it is possible that the seller would legally be allowed to keep the downpayment paid on the transaction if there is no deal to the contrary in place between the two parties.

To view an extensive directory of Real Estate Agents in New York click here.

Residential and Commercial Real Estate Agencies and Associations in New York

Bronx-Manhattan Association of Realtors
Address: Bronx-Manhattan Association of Realtors
1867 Williamsbridge Rd
Bronx, NY 10461
Office Phone: (718)-892-3000
Web site: www.bmar.org

Duchess County Association-Realtors
Address: Duchess County Association-Realtors
3 Neptune Rd
Poughkeepsie, NY 12601
Office Phone:(845)-471-2811
Web site: www.netforum.avectra.com

Manhattan Association of Realtors, Inc.
Address: Manhattan Association of Realtors, Inc.
350 5th Avenue
Suite 4711
New York, NY 10118
Office Phone Number: (212) 594-2233
Web site: www.manar.realtymx.com

CRE Office Suites in Manhattan, NY