Real Estate Purchase And Sale
For many people, buying or selling a home, an investment property, or a piece of commercial real estate, will be one of the biggest transactions in their lifetime. Retaining an attorney to assist in the transaction can be helpful in numerous ways.
For those "sale by owner" transactions that do not involve real estate agents, an attorney representing the seller can prepare the contract of purchase and sale on behalf of the seller. An attorney representing the buyer can negotiate the contract terms on behalf of the buyer. While a purchase and sale agreement for New Jersey residential property that a real estate agent prepares will contain a "three-day attorney review period," the inclusion of such a period in a contract a real estate agent does not prepare is not required. In other words, once a person signs such a contract he or she can be bound by its terms, with no opportunity to back out.
Even in those transactions that involve real estate agents, retaining the services of an attorney knowledgeable in the purchase or sale of real estate can be helpful in interpreting contract provisions, checking for appropriate contingencies, answering questions, reviewing title and loan commitments, preparing or reviewing the deed, and attending the closing.
If you are contemplating buying or selling residential or commercial real estate, call Katkocin Law Office in Medford, New Jersey, at (609) 953-2000 for a free initial telephone consultation.