New Jersey Real Estate Law:
New Jersey real estate law is very different than real estate laws in other states. New Jersey real estate law is complex and it changes frequently. This is one of the few states where nearly all real estate transactions have at least one attorney involved. Purchasing a home in New Jersey all but requires home buyers to find an attorney who knows real estate laws and regulations inside and out.
Prior to selecting a home it would be to your advantage to spend a little time looking for a qualified New Jersey Real Estate lawyer whom you trust. You may wish to obtain the opinion of friends, relatives or co-workers who have recently purchased a home rather than search the phone book.
When purchasing a home through a real estate agent in New Jersey you are usually asked to sign a very widely used contract your realtor will likely prepare for you. This is a standard generic New Jersey real estate contract. The contract will not necessarily fit your specific needs nor the needs of the seller of the property.
After signing the real estate contract you will usually have three days to have it reviewed by a New Jersey real estate attorney. Your real estate attorney will review the contract with you and explain what it means to you. Your attorney will then contact the seller’s attorney to work out changes your real estate attorney feels are necessary. It is common for these real estate contract negotiations to take a few days, sometimes as long as a week or two.
After the contract and the addendums or changes are signed by all parties to the transaction you will generally have a few days to schedule and obtain a home inspection.
If you are looking for legal guidance in this process, please visit our New Jersey Real Estate lawyers directory.
Disclaimer – New Jersey LawSite and/or AJIS.com make no endorsements as to the professional qualifications of the NJ lawyers listed in our Directories. We do not assume responsibility for any services provided by our participants. The information contained in our Website does not constitute legal advice. This information is not intended to create, and does not create an attorney-client relationship. An attorney-client relationship will exist following a consultation and entering into a written agreement.