Today, our lawyer let us know that she had received a fully signed copy of the contract. This means that we are in contract to purchase The Manse in Briarcliff Manor. It’s exciting: at this point, we’ve made a large commitment to purchase the property.
The next steps are:
- Have our earnest money deposited (10% of the final sale price)
- Get the contract approved at the local church meeting
- Get the contract approved by the regional church authority
- Get the contract approved by the State Attorney General and/or the Westchester courts
We need to get the contract approved by the state since this is a transfer of property from a non-profit entity. If our contract is not approved within eight months, we have the option of leaving the contract with no penalties. We’re hoping to get approval much sooner!
Category: Legal