In New York, the Seller’s attorney typically drafts the Contract of Sale and includes additional provisions in the Seller’s Rider. These additional provisions may contain deal-specific terms not addressed in the standard form or additional items such as a radon contingency. The Purchaser’s attorney will typically mark up the Contract and Seller’s Rider and propose additional terms in a Purchaser’s Rider. Either party may also propose an Addendum to the Contract which often addresses any repair items or credits for repairs. Once the documents are fully executed, the Contract, Seller’s Rider, Purchaser’s Rider and Addendum are collectively referred to as the “Contract.”
*Thank you for taking the time to read this article. This article is part of our “From Contract to Closing; Demystifying NY Residential Real Estate” Series. Other aspects of residential real estate transactions in New York are discussed in other Parts of this series.
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