New York Real Property Law RPP NY REAL PROP Section 294. Read the code on FindLaw An executory contract for the sale, purchase or exchange of real property, or an instrument canceling such a contract, or an instrument containing a power to convey real property, as the agent or attorney for the owner of the property, acknowledged or proved That’s because in NYS, all real estate contracts of sale need to drawn up by the principle or their attorney. If you don’t have the ability to draw up the contract and you don’t hire an attorney, you can probably have the seller’s attorney draw up the contract, but that is exposing you to a document The contract is the single most important document involved in the sale of real estate (land, a home, etc). The real estate sales contract is the agreed framwork of rules, timetables and contingencies under which the real estate will be sold - or not sold if the deal falls through.