Saratoga Springs, NY asked in Contracts and Real Estate Law for New York

Q: We are doing a private home sale in New York. Can we ask the buyer to provide mortgage down payment information?

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3 Lawyer Answers
Vincent Gallo
Vincent Gallo
Answered
  • Staten Island, NY
  • Licensed in New York

A: Of course, you’re entitled to know if they can really afford to purchase your house.

George E. Patsis
George E. Patsis
PREMIUM
Answered
  • Lindenhurst, NY
  • Licensed in New York

A: Yes, the amount of the down payment should be included in the offer. It will also be included in your real estate contract. You should retain the services of a real estate attorney in your area.

Michael David Siegel
Michael David Siegel
Answered
  • New York, NY
  • Licensed in New York

A: I am not sure what "mortgage downpayment information" means exactly. If you are talking about information on mortgage preapproval, the answer is prior to contract you can ask for whatever you want on finances. After contract, the contract governs.

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