When a potential buyer decides to place an offer to purchase your home, their real estate agent will prepare a contract, and inform me of their intent. The contract typically includes the offer price, the amount of first and second and deposit and final down payment, and tentative mortgage commitment, home inspection, and closing dates (usually 60 – 90 days).

Periodically the selling agent will request that they be allowed to present their clients offer directly to you, with me present.

In either case, I am experienced at negotiating the terms of the sale of your home, and it is important you are able to be reached if counter offers or terms need to be changed.

 

ATTORNEY REVIEW BEGINS

Once all the terms and the purchase price are agreed upon, and the contract is signed by both buyer and seller, all the information is usually sent to a qualified Real Estate attorney and attorney review begins.

In New Jersey, it is not mandatory, but it is highly recommended to hire an attorney for the closing of real estate to protect your interests. An offer which has been accepted by a seller becomes a legally binding contract.

Attorney review in the state of New Jersey is counted as three business days (no holidays or weekends) from the date of a fully signed contract by buyer and seller, but can be extended, shortened, or waived upon written agreement of all parties involved, or their attorney.

Additionally, any contingency dates may be modified during this time.

During the attorney review period, either party can cancel the contract. Once attorney review is completed, you have a binding contract to purchase the home.

It is highly recommended AND EXTREMELY IMPORTANT you stay in contact with your attorney during the entire purchase process.

It is important to communicate any concerns you may have so he/she may properly communicate them to the buyers’ attorney. The more communication between buyer/attorney and seller/attorney, the quicker and more smoothly the attorney review process, and the entire transaction, can move along.

I can provide you with a list of Real Estate attorneys if you need one.