Legal Question in Real Estate Law in New York
Sale Contract Rider
I am the executor of my mothers estate and have retained an attorney to asist in the the sale of the
house. When my lawyer sent me the sale contract there was a rider attached stating that if the buyer
was unable to obtain a mortgage I would refund the binder without penalty.
When I questioned my attorney about this he said ''thats how things are done around here'' (Staten
Island)
Is this type of rider a standard thing or did my attorney negotiate this without my knowledge?
If the buyer does not get the mortgage my house will be off the market for about 90 d
Asked on 8/01/02, 6:58 am
1 Answer from Attorneys
David Slater
David P. Slater, Esq.
Re: Sale Contract Rider
It is standard throughout the US. Goodluck.
Answered on 8/01/02, 8:00 am
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