If you buy property in New Jersey with a realtor, chances are you are actually going to sign the contract before you review with an attorney. That’s because the New Jersey standard realtors contract has a provision for what’s called attorney review. After the contract is signed, the contract goes to the attorney who will review the terms with you and make sure that you are on the same page. I have standard changes that I like to make to the form contract that I believe is in the best interest of clients and I will make sure that you fully understand everything.
The attorney review period will last three days and begins when each party receives a copy of the fully signed contract of sale. Weekend days and holidays do not count as a review period day. It is imperative that buyers take advantage of the rights to have an attorney review the contract within that three-day review period. The contract becomes binding on the parties as it is written. This, of course, is still subject to the buyer’s mortgage approval, home inspection, and title search results.
This is the time when both the buyer and seller have the right to consult with an attorney. You will need experienced representation to review the terms of the contract, make changes, or terminate the agreement. The standard New Jersey contract does not always fit all situations, some provisions in a contract may be appropriate for one transaction, but not another. An attorney can identify potential problems and ensure that each of the parties understands the terms of the contract in order to protect your interest in the transaction.
Buying or selling a home can seem complicated and overwhelming at the outset. The Bronzino Law Firm LLC has guided and protected countless clients rights through all aspects of real estate across New Jersey including Asbury Park, Neptune, Wall, Manasquan, Point Pleasant, Brick, Jackson, Sea Girt, and across Monmouth and Ocean Counties. We know the ins and outs of this process and can help you become a homeowner or help you sell your home with the least stress possible.
Contact our Brick or Sea Girt offices today by calling 732-812-3102 for a free and confidential consultation regarding your Real-Estate transaction.
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