Attorney review is the first critical period of any real estate sale.
It is the period AFTER the agreement is signed when buyer and seller's attorneys review the contract and make any necessary changes, additions, etc.
IMPORTANT !! If you are selling a home off-market, with no realtor, attorney review is NOT required in New Jersey.
Do not let a shady home buyer use this loophole to trick you into bypassing attorney review!
If there is a broker involved in the transaction, then attorney review is mandatory,
But regardless if it's required by law or not, you should always have a lawyer look over the contract!
Attorney review lasts a minimum of 3 days, but is often longer. The review period does not end until both attorneys approve all of the revisions made to the original agreement.
During this time, either party can cancel the contract for any reason whatsoever. No valid reason is required and the other party likely can’t seek damages or pursue legal action.
Once attorney review is over, the contract becomes binding on both parties. The deal is not "firm" until then.
No buyer should EVER try to convince you not to use an attorney or to skip attorney review. If the buyer is reputable and honest, he/she will not care if you have a lawyer review the contract.
If you are really nervous, It's ok to have a lawyer look at the contract before signing it. But even if you make a mistake, attorney review will allow you to change or cancel the contract altogether.
Remember, this information here is intended for educational purposes and should not be construed as legal advise. Please consult directly with an attorney for legal questions
Maria needed to sell her home in Union FAST. Her plan was to use the cash to buy another home further south by the beach. She found a great deal on a cute home by the water and she knew it wouldn't last long, so she'd have to move quick.
BUT, she had to sell first before she could buy, and the Union home needed some big repairs. She had gotten some estimates over the years but she had put it off for too long and the repair work was starting to feel overwhelming.
She was also living by herself, so she wondered why she would spend all that money to fix a home that she knew she wasn't going to live in for much longer anyway.
She called us because we are honest, reputable, and reliable.
So we came to see the home, made an offer, paid cash, and closed in 30 days. Because the market has been going up, we were able to pay a slightly higher price than we would have 3 or 4 years ago, which was great for Maria. Even better, we agreed to let Maria stay in the home an extra month after closing so she could wrap things up with the other home purchase. She closed on her dream home shortly after and started a brand new chapter in her life.
Do you need to sell your Union home? Are you looking for a cash offer?
People sell for all kinds of reasons. It doesn't matter the situation, we can help.
Contact us directly at 973-506-9866
We are local, someone you can trust.