Real Estate Transactions
The Residential Real Estate Transaction can be a confusing task even if you have purchased and sold a home before. You should be aware that you do have certain contractual rights upon signing a Purchase Sale Agreement. You should take full advantage of the three day attorney review period. If you are unaware, the three day attorney review period begins to run when the second party (Buyer or Seller) executes the agreement. Generally, if the contract is not disapproved within three business days (excluding weekends and holidays) it will be considered binding on both parties. In most cases the contract has been prepared by the Real Estate agent or broker and it may not be tailored to meet your particular needs and wants. At the very least you should contact a licensed attorney to explain to you the various elements of the contract before this three day period has lapsed and decide if changes need to be made before approving the contract.
The aforementioned attorney review period is only one of the various reasons hiring legal counsel for your Real Estate Transaction can be advantageous and protect your rights. Home Inspections, Title Insurance, preparation of closing documents, and a number of other tasks can be provided by your legal counsel. With predatory lending and the current Real Estate market problems you should consider hiring legal counsel to protect your rights and interests.
Contact our office today if you have signed a purchase and sale agreement for property in the State of New Jersey. In most cases your legal fees will be no higher than simply allowing a Title company to handle the closing. Although most Realtors and Title Agents are highly trained and knowledgeable when it comes to Real Estate Transactions they are not licensed to give you legal advice. Therefore, you should consider contacting an attorney if you have questions about your legal rights or the legal issues that may be present with your transaction.
The aforementioned attorney review period is only one of the various reasons hiring legal counsel for your Real Estate Transaction can be advantageous and protect your rights. Home Inspections, Title Insurance, preparation of closing documents, and a number of other tasks can be provided by your legal counsel. With predatory lending and the current Real Estate market problems you should consider hiring legal counsel to protect your rights and interests.
Contact our office today if you have signed a purchase and sale agreement for property in the State of New Jersey. In most cases your legal fees will be no higher than simply allowing a Title company to handle the closing. Although most Realtors and Title Agents are highly trained and knowledgeable when it comes to Real Estate Transactions they are not licensed to give you legal advice. Therefore, you should consider contacting an attorney if you have questions about your legal rights or the legal issues that may be present with your transaction.