- PRACTICE AREAS
- Commercial Real Estate Law
- Condo, Coop and Residential Real Estate Law
- Condo and Coop Conversion Law
- Real Estate Closings
- Landlord - Tenant Law
- Mortgage Modification
- Insurance Litigation
- Property Damage Insurance Claims
- Bad Faith Insurance
- Theft, Flood & Fire Damage Insurance Disputes
- Examination Under Oath (EUO)
- Civil Litigation
- Business and Commercial Transactions
- Criminal Defense
- Crime Victim Representation
- Personal Injury
- Real Estate Overview
Firm Information
Great Neck Office
55 Northern Boulevard, Suite 302
Great Neck, NY 11021
(718) 352-4800
(917) 251-6651
(24 Hour Urgent Matters)
| What is a mortgage contingency? | | Print | |
|
What is a mortgage contingency? A mortgage contingency is a provision negotiated into a real estate contract which allows for the purchaser to cancel the contract if the agreed upon financing amount cannot be obtained during an agreed upon period of time. The typical mortgage contingency is between 30 and 45 days. Given the state of the economy and the sometimes unpredictable policy changes by commercial lenders, a mortgage contingency is usually recommended. Before agreeing to terms of a real estate deal without a mortgage contingency it is extremely important to speak to an attorney so that you completely understand its significance. |
Greenblatt & Agulnick, P.C., in Great Neck, New York, provides legal advice and representation for individuals and corporate entities in communities throughout the New York City region and Long Island, including Manhattan, Queens, Bronx, Brooklyn, Richmond, Long Island City, Garden City, White Plains, Roslyn, Plainview, Manhasset, Westchester, Rockville Center, Searingtown, the Hamptons, Larchmont, Dix Hills, Yonkers, Little Neck, Port Washington, Kew Gardens, Forest Hills, Astoria, Mineola, Glen Cove, Hempstead, Levittown, Flushing, Jamaica, Floral Park, Hewlett, Jericho, Bayside and Rockland, New York.
Real Estate Overview | Commercial Real Estate Law | Condo, Coop and Residential Real Estate Law | Condo And Coop Conversion Law | Real Estate Closings | Landlord - Tenant Law | Mortgage Modification | Insurance Litigation | Property Damage Insurance Claims | Bad Faith Insurance | Theft, Flood & Fire Damage Insurance Disputes | Examination Under Oath (EUO) | Civil Litigation | Business and Commercial Transactions | Criminal Defense | Crime Victim Representation | Personal Injury |
FIRM LOCATIONS
55 Northern Boulevard, Suite 302, Great Neck, NY 11021
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