ContractsGeneralMEDIUM
A binder in New York real estate is:
Correct Answer
B) A preliminary agreement subject to attorney approval
A binder is a preliminary agreement typically subject to attorney approval within 3-5 days.
Answer Options
A
A binding contractB
A preliminary agreement subject to attorney approvalC
Insurance documentationD
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Related Topics & Key Terms
Related Topics:
contract-formation-elementsattorney-review-clausesearnest-money-depositsdue-diligence-periods
Key Terms:
binderattorney approvalpreliminary agreementNew York contract processcontract of sale
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