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Monday 9am - 5pm Tuesday 9am - 5pm Wednesday 9am - 5pm Thursday 9am - 5pm Friday 9am - 5pm

Law Office of Peter T. Bauer

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Farmingdale, NY
Law Office of Peter T. Bauer

Peter T. Bauer, Long Island Real Estate Attorney

05/13/2026

FAQ for Buyers: What Is a Mortgage Contingency?

In many home purchase contracts, the buyer’s obligation to complete the purchase is conditioned upon obtaining a mortgage commitment from a lender.

A mortgage contingency clause is designed to help protect the buyer if financing cannot be obtained within the timeframe stated in the contract.

The clause typically sets forth the loan amount, type of financing, and the deadline for obtaining a mortgage commitment.

Buyers should remain in close contact with their lender and promptly provide any requested documents or information during the mortgage process.

Understanding how the mortgage contingency works early in the transaction can help buyers avoid unnecessary stress and better manage important contract deadlines.

04/29/2026

FAQ for Buyers: What Happens During the Contract Review Process?
After your inspection is complete and you are ready to move forward, the next step is the contract stage.
In New York, the seller’s attorney prepares the contract of sale and sends it to the buyer’s attorney. The buyer’s attorney reviews the contract to confirm that it reflects the agreed upon terms of the deal and includes appropriate provisions to protect the buyer.
This review typically includes confirming key terms such as the property details, purchase price, contract deposit, mortgage contingency (if applicable), and anticipated closing timeframe. It may also involve negotiating rider provisions and addressing any issues raised during the inspection.
Once the contract is finalized and signed by both parties, the transaction becomes legally binding.
Understanding this process helps buyers know what to expect and keeps the transaction moving efficiently toward closing.
I am always happy to speak with buyers before making an offer or once an offer has been accepted.

04/08/2026

Why is a home inspection important before signing a contract?
For most buyers in New York, the inspection takes place after an offer is accepted and before a contract is signed. It’s an important step that helps you better understand the condition of the property before becoming legally bound.
A professional inspection by a licensed New York home inspector can reveal issues with the home’s structure, systems, and overall maintenance.
After the inspection, buyers generally have three options: move forward with the purchase, request repairs or credits (or a price adjustment), or decide not to proceed and continue their search. In a strong seller’s market, negotiating repairs or credits can be more challenging, but the inspection remains a key part of the process.
Even if you move forward, the inspection can serve as a useful roadmap for future maintenance and improvements.
I am always happy to speak with buyers who want to better understand the process before or after making an offer.

03/25/2026

Buying or selling a home on Long Island?

I represent buyers and sellers in residential real estate transactions throughout Nassau and Suffolk Counties.

My practice is focused exclusively on handling contract negotiation, title review, and closing coordination to help ensure a smooth and efficient transaction.

Clients work directly with me from start to finish. I handle each matter personally and keep all parties informed throughout the process.

If you are beginning your home search or preparing to sell, I am always happy to speak with you and answer any questions about the process.

03/18/2026

What happens after your offer is accepted?

In New York, an accepted offer is only the beginning. A real estate transaction becomes legally binding only after a written contract is prepared, negotiated, and signed by both parties.

Once an offer is accepted, the seller’s attorney prepares the contract and sends it to the buyer’s attorney for review. Your attorney reviews the terms, negotiates appropriate rider provisions, and addresses issues that arise during due diligence.

The contract stage can move quickly. Clear communication among the attorneys, agents, and clients helps keep the transaction moving smoothly toward closing.
Understanding the process early helps buyers feel more confident as they move forward.

I am always happy to speak with buyers who want to better understand the process before or after an offer is accepted.

03/03/2026

FAQ for Buyers: When Should You Contact a Real Estate Attorney?

If you are purchasing a home on Long Island, it is wise to speak with a real estate attorney before making an offer or at least during your home search.

An early conversation helps you understand how contracts work in New York, what protections are typically negotiated, how inspections and mortgage contingencies operate, and what to expect once an offer is accepted.

Once acceptance happens, the contract stage moves quickly. Being prepared allows for prompt review, negotiation, and early title examination.

Early guidance reduces surprises and helps keep the transaction on track.

I am happy to speak with prospective buyers early in the process.

09/25/2024

Mortgage applications are now at their highest level in more than two years after an 11% jump during the week ending Sept. 20.

09/24/2024

★★★★★ "I like to thank the office of Peter t. Bauer for all the work that he did and assisted me on selling my home. It was the most easiest process. Professionally done and I could not be happier. I highly recommend using the office of Mr.Bauer"

09/19/2024

Mortgage rates continued to decline this week, taking a little more pressure off America’s tight housing market as the Federal Reserve ramps up its efforts to keep the economy on an even keel.

08/08/2024

Mortgage rates plummeted this week after weaker-than-expected employment data raised the odds of the Federal Reserve cutting interest rates next month. It’s a big step in the right direction for America’s notoriously unaffordable housing market.

Address

61 Executive Boulevard, Ste 201
Farmingdale, NY
11735

Opening Hours

Monday	9am - 5pm
Tuesday	9am - 5pm
Wednesday	9am - 5pm
Thursday	9am - 5pm
Friday	9am - 5pm

Telephone

+15162623720

Website

http://www.pbauerlaw.com/

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