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.

Read more
Answered on 8/01/02, 8:00 am


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