A New York real estate purchase agreement is a written contract in which the seller agrees to sell and the buyer agrees to buy real estate on stated terms. This fillable purchase agreement template records the parties, the property, the price, the deposit and the closing date. For a home sale, New York law also asks the seller to complete a property condition disclosure statement, except as section 463 provides.[1.1] Download the form below or fill it out online.
Last Updated: October 2026. This guide is reviewed and updated regularly to reflect current New York law. If you notice an error or outdated information, please contact us.
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A New York real estate purchase agreement, also called a purchase and sale agreement, is the contract that sets the terms of a real estate sale. It names the buyer and the seller, describes the property and states the price. In general practice, buyers and sellers treat a signed purchase agreement as a legally binding agreement that guides the deal through closing.
A purchase agreement usually records these points:
The buyer signs first, as an offer. Section 27 of the template treats the form as an offer to purchase, and Section 32 is where the seller accepts by signing. The signed copy must reach the buyer before the offer expires under Section 31.
The residential form lists single family homes, condominium units, apartment units, townhouse units, duplexes and triplexes (Section 2). If some personal property is sold on its own, FormsPal also has a New York bill of sale.
A New York residential purchase and sale agreement is the contract for selling a home. The template on this page has 38 numbered sections. They cover the parties, the property, the deposit, the price, the buyer's contingencies, the closing and the signatures, so read every section before anyone signs. Buyers in other states can start from the real estate purchase agreement overview.
The sections fall into these groups:
Section 5 asks for an earnest money deposit, which is money the buyer puts down to show the offer is serious. The deposit is credited to the purchase price at closing.
Section 6 has check boxes for the buyer's contingencies. A contingency is a condition the deal depends on. You can mark whether the purchase depends on the buyer getting a loan, and whether it depends on the buyer selling another property.
If the buyer is getting a loan, Section 7 asks for a good faith loan application. By a date you fill in, the buyer gives the seller a lender letter. The letter verifies the source of the down payment and the funds to close. Without that letter, the seller can end the agreement by written notice within five business days of that date.
Sections 8 and 9 cover the buyer's checks before closing. The buyer can order an appraisal, a survey and a property condition assessment at the buyer's cost. The seller orders a title report, and the buyer has a set number of business days to object to anything in it. If the seller cannot fix a defect, the buyer can cancel and get the full deposit back.
Section 11 ties the deal to an appraisal. If the home appraises for less than the price, the parties get a set number of business days to renegotiate. If they cannot agree, the agreement ends and the buyer gets the deposit back.
Section 10 has the seller keep the property in its current condition until closing, apart from ordinary wear and tear. Section 17 says the buyer takes the property as is, with all defects, except as the agreement or the seller's property disclosure document says otherwise. In the same section, the seller promises to cover the buyer's damages from a materially inaccurate or misleading statement. This promise is called indemnification.
Section 31 makes the offer expire at 5 pm on a date you fill in, unless the seller has signed and delivered a copy to the buyer by then. If the offer expires, the deposit goes back to the buyer. To fill in the downloaded PDF on your screen, use the PDF editor, then print the agreement for signing.
This example uses made-up names, addresses and amounts, so none of it describes a real sale or a recommended term. It shows how the first blanks of the New York form might look once they are filled in.
Your own entries will differ. Replace every sample entry before you sign.
Closing is the day the buyer pays and the seller hands over the property. Section 13 of the New York form sets the closing date. The closing takes place in the escrow agent's office unless the parties choose another place. Before that day, the buyer makes sure all the funds reach the escrow agent.
Here is what the form says about the closing and what comes with it:
Section 16 lets the buyer end the contract and get the full deposit back if the improvements are materially damaged or destroyed before closing. Section 33 says the buyer takes possession at closing, and the home is delivered free of tenants, occupants and debris.
Section 34 gives the buyer a walk-through within the 48 hours before closing. Under Section 34, if the home has been damaged since signing, the buyer can require an extension of the closing. The seller then repairs the damage promptly.
FormsPal has a general warranty deed form for the deed named in Section 9. If your sale needs a different type of deed, there is also a New York quitclaim deed form.
The form sets out what happens when one side breaks the contract. Under Section 22, if the buyer defaults, the seller's only remedy is liquidated damages equal to the deposit. Under Section 23, if the seller defaults, the buyer can ask a court to make the seller complete the sale, or can cancel and get the deposit back.
Disputes start with mediation. Section 25 has the parties mediate in good faith and share the mediator's cost, then go to binding arbitration if mediation fails. Under that section the arbitrator is a retired judge or an attorney with at least five years of residential real estate law experience, unless the parties agree on someone else.
Section 25 keeps these matters outside mediation and arbitration:
Section 21 says time is of the essence for every date in the contract, so a missed deadline matters. It also says the written contract replaces earlier talks and that any change must be in writing and signed by both parties. Section 29 counts business days as every day except Saturdays, Sundays and federal or state holidays.
Section 27 treats the form as an offer to buy. If only some of the parties initial the pages, a counteroffer is needed. The seller can keep offering the property until the buyer is told the offer is accepted.
Section 32 has the seller confirm ownership or authority to sell. It allows delivery by hand, by email with electronic confirmation or by overnight courier.
Section 35 says an agent's fee follows that agent's own written agreement. Because a real estate sale involves a large sum, read the whole contract with care before you sign it.
Most problems with a purchase agreement come from blanks and dates, and the New York form has many of both. A few habits prevent most of the trouble. Each one ties back to a section of the template.
When the form is complete, print it for signing and give each party a copy. Section 21 asks for any later change to be in writing and signed by both parties, and FormsPal has real estate purchase agreement addendums for that. You can find other New York documents in the New York PDF forms library.
A commercial purchase and sale agreement covers property that is not a home, such as an office building, a retail space or vacant land. It is usually longer and more detailed than a residential agreement. The template on this page is the residential form. A commercial deal often calls for a contract written for that type of property, such as the commercial real estate purchase agreement.
Commercial contracts commonly cover these points in detail:
They are used for industrial property, land, multi-family property, office buildings, retail property and mixed-use property. A company signs through its official representative, so the contract should name who signs and in what role.
In practice, parties often agree to try mediation first and to split the mediator's cost. A severability clause is also common. It keeps the rest of the contract in place if one term is later changed or dropped.
In New York, every seller of residential real property under a real estate purchase contract must complete and sign a property condition disclosure statement. The seller must deliver it, or a copy, to the buyer or the buyer's agent before the buyer signs a binding contract of sale, except as section 463 provides.[1.1] The rule comes from New York Real Property Law § 462.
The statute's own wording:
Except as is provided in section four hundred sixty-three of this article, every seller of residential real property pursuant to a real estate purchase contract shall complete and sign a property condition disclosure statement as prescribed by subdivision two of this section and cause it, or a copy thereof, to be delivered to a buyer or buyer's agent prior to the signing by the buyer of a binding contract of sale.
Here is what else the statute says about the statement:
Section 38 of the template states that the seller completed the Property Disclosure Statement and attached it to the agreement. Section 37 asks whether the home was built before 1978. If it was, both parties sign the attached Lead-Based Paint Disclosure Form.
These short answers cover the New York seller disclosure statement. They come from N.Y. Real Prop. Law § 462, which is listed in Sources so you can read the statute yourself.
The seller of residential real property completes and signs a property condition disclosure statement. The seller then delivers it, or a copy, to the buyer or the buyer's agent before the buyer signs a binding contract of sale.[1.1]
A copy signed by both seller and buyer is attached to the real estate purchase contract.[1.1]
A knowingly false or incomplete statement may subject the seller to claims by the buyer before or after the transfer of title. The seller does not have to inspect the property to complete the form.[1.1]
Every seller of residential real property under a real estate purchase contract must complete and sign a property condition disclosure statement, except as section 463 provides.[1.1]
It is the property condition disclosure statement. State law prescribes the form, and the seller completes and signs it.[1.2] A copy signed by both seller and buyer is attached to the real estate purchase contract.[1.1]
The statutory form is a statement of certain conditions and information about the property that the seller knows. It is not a warranty by the seller, and it does not replace the buyer's own inspections.[1.2]
The numbered questions cover these areas:
The seller answers from what the seller knows. The buyer can still order independent inspections.[1.2]
General information, not legal or tax advice.
