New York contract deadlines and disclosures
A quick checklist for New York agents, from signed contract to closing. Use it as a starting point: your signed contract always wins.
The contract
Most residential deals use the Contract of sale (attorney-drafted downstate; local REALTOR forms with attorney approval upstate), published by Attorneys (downstate) / local REALTOR associations (upstate). Closings are usually handled by a closing attorney. Attorney review usually runs about 3 days after signing.
Typical deadlines
Days are common starting points, not rules. Many are negotiated in every contract.
| Deadline | Typical timing | Note |
|---|---|---|
| Contract fully signed and delivered | When the last party signs (day 0) | |
| Attorney approval ends (upstate forms) | 3 business days after signing | Only if your contract includes it |
| Down payment to escrow (usually 10%, held by the seller's attorney) | At signing | |
| Loan application | 5 days after signing | Only if your contract includes it |
| Inspection (often done before signing downstate) | 10 days after signing | Set in each contract; typical shown |
| Appraisal contingency | 21 days after signing | Set in each contract; typical shown. Only if your contract includes it |
| Mortgage commitment date | 45 days after signing | Set in each contract; typical shown |
| Co-op board package and interview | 30 days after signing | Only if your contract includes it |
| Title report ordered by the buyer's attorney | 14 days after signing | |
| Title objections | 5 days after Title report ordered by the buyer's attorney | Only if your contract includes it |
| HOA / condo resale documents delivered | 10 days after signing | Only if your contract includes it |
| Closing (on or about) | 60 days after signing | Set in each contract; typical shown |
| Final walkthrough | 1 day before Closing | |
| Possession | Same day as Closing |
Disclosures and required forms
Required: Property Condition Disclosure Statement before signing: mandatory since March 20 2024, the $500 credit opt-out is gone, new flood questions
Required: NY agency disclosure form at first substantive contact (confirm with your broker)
Required: Housing and Anti-Discrimination Disclosure Form at first substantive contact (confirm with your broker)
If it applies: Agricultural district, uncapped gas wells, utility surcharge disclosures (confirm with your broker)
If it applies: Lead-based paint disclosure (built before 1978)
Money at closing
Transfer tax: State transfer tax 0.4% (seller); the buyer pays a mansion tax of 1% and up on homes of $1 million or more; New York City adds its own transfer tax. (confirm with your broker)
Sellers who live out of state: A seller who isn't a New York resident files Form IT-2663 and pays estimated tax on the gain at closing. (confirm with your broker)
Good to know
Downstate, an accepted offer isn't binding: the seller's attorney drafts the contract, the buyer signs with the down payment, the seller signs last.
Mortgage commitment time usually runs from delivery of the signed contract to the buyer's attorney.
Let Reta track it for you
Upload your signed contract and Reta builds this timeline with your real dates, reminds you before each deadline, and drafts the emails to your client, lender and title for you to approve. Your first deal is free.
This guide is general information for licensed agents, not legal advice. Rules and forms change; confirm with your broker or a local attorney. Last checked 2026-11-10.