Who Draws Up the Contract in A For Sale by Owner Transaction? - Peter Zinkovetsky

From Avenue Law Firm - Who Draws Up the Contract in a For Sale by Owner Transaction? explains how FSBO sellers in Manhattan and across New York can approach one of the most important parts of selling a home without a listing agent: the purchase contract. This episode covers why the seller’s real estate attorney typically prepares the contract of sale, how the buyer’s agent or buyer’s attorney may become involved when the seller has no attorney, and why contract drafting can create serious legal risk when handled without proper guidance.

The discussion walks through the New York FSBO process step by step, from accepting an offer and circulating a deal sheet to drafting the contract, negotiating the rider, collecting the contract deposit, placing funds in escrow, and preparing for closing. It also explains how condos and co-ops add additional layers to the process, including building financials, house rules, recent minutes, offering plans, amendments, and co-op board approval.

Listeners will also learn what a New York FSBO contract should include, such as the contract title, legal names of the buyer and seller, property address, legal description, purchase price, financing terms, inspection contingency, appraisal contingency, home sale contingency, closing date, signature section, and required disclosures. The episode highlights the Property Condition Disclosure Statement under New York Real Property Law § 462, federal lead paint disclosure requirements under 42 U.S.C. § 4852d for homes built before 1978, the March 20, 2024 PCDS changes, and the July 1, 2025 updates involving Department of Health and septic system information.

Featuring insights connected to Peter Zinkovetsky and the real estate attorneys at Avenue Law Firm, this episode also touches on title reports, deeds, county clerk and city register recording, earnest money disputes, seller-protective terms, and common mistakes that can lead to litigation or financial loss. Avenue Law Firm serves clients throughout Manhattan and the greater New York City area from 505 Park Ave #1201, New York, NY 10022, and can be reached at (212) 729-4090.

Avenue Law Firm

505 Park Ave #1201, New York, NY 10022, United States

(212) 729-4090

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