When a person makes the decision to participate in a real estate transaction, regardless of whether they are buying or selling a home, they need the services of an experienced real estate attorney. Though some people think that they will be fine without legal representation, they are taking a risk and may find themselves with legal troubles down the road. In addition, in New Jersey, there is a process known as the three-day attorney review that requires both parties to retain the services of a real estate attorney.
The attorney review process occurs near the end of a real estate transaction. Once a buyer has found a home they want to buy or a seller has found a buyer for their home, a contract will be drafted so the sale can take place. The contract will include a sale price, a list of closing costs, a date for closing, and information about any other extraneous factors. Before either side signs the contract, they will give it to their attorney for three days. During this time, the attorneys will modify the contract on behalf of their client to best suit the sale in their favor. Once both sides have come up with a contract that benefits everyone, the buyer and seller can both sign and move forward with the sale of the home.
An experienced real estate attorney knows what to look for to make sure that the sale is fair and that you are not being taken advantage of, regardless of your position as the buyer or the seller. If you have questions or need legal representation for your real estate matters, contact our firm today.
If you require strong and dedicated representation for any of your legal matters, contact The Law Offices of George J. Mardinly to schedule a consultation.