Who usually prepares the sales contract in New York?

The seller's agent usually prepares it (upstate, usually a real estate agent/ broker; downstate, usually the seller's attorney). If a real estate agent or broker prepares a contract, it will usually be subject to approval by the parties' attorneys within a specified short time.

US Legal Forms
Forms Kit
Agreements - Agreement Forms
Multi-State
Asset Purchase Agreement - Business Sale

Example Of A Sales Agreement In New York

Q: Who usually prepares the sales contract in New York?

The seller&#039;s agent usually prepares it (upstate, usually a real estate agent/ broker; downstate, usually the seller&#039;s attorney). If a real estate agent or broker prepares a contract, it will usually be subject to approval by the parties&#039; attorneys within a specified short time.

Category:

Small Business - Business Sale

State:

Multi-State

Control #:

US-00418

Format:

Instant download

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Description

The Example of a Sales Agreement in New York serves as a critical document for the transfer of business assets from a seller to a buyer. This form outlines key elements such as the assets being sold, the purchase price, and the liabilities being assumed by the buyer. Users must customize the agreement to fit the specific details of their transaction, including completing the necessary sections while deleting any non-applicable provisions. Key features include detailing assets purchased, payment terms, and warranties provided by both parties. It also typically includes covenants that outline actions and responsibilities before and after the closing of the sale. Paralegals and legal assistants can use this template to ensure compliance with relevant laws and to facilitate a smooth transaction process. Additionally, attorneys can rely on this document for structuring asset sales to protect their clients' interests. This form is particularly useful for business owners looking to divest assets and for buyers interested in acquiring existing businesses or operational assets.