Real Estates Attorneys in Bloomfield, NJ
If you are buying or selling real estate, both commercial and residential, you are engaging in a significant financial transaction. For most buyers, it will be the largest single investment they will ever make. Our firm has been representing commercial and residential clients for decades. Our team will guide you through every step of the process, from the initial contract to the closing. We are always going to ensure that your rights are protected and that your interests are met. During the process, your attorney can be a valuable advocate for you. When you retain the services of the Law Offices of Christopher T. Howell, Esq., you will be guided through all aspects of your real estate transaction, keeping you fully informed of the progress and any developments. If you are engaging in a real estate transaction and you need an experienced attorney, contact the Law Offices of Christopher T. Howell, Esq.
The contract and the 3-day attorney review
Once you have found a property and agreed on a price with the seller, you will most likely be asked to sign a Contract of Sale. This contract is binding and will document the parties, the agreed upon price, how the purchase will proceed, a general description of the property being sold, the kind of deed to be delivered, the quality of the seller’s title, and more. This is the most important document of any real estate transaction. New Jersey law provides a brief pause in the process called the 3-day attorney review. This allows both parties to bring a signed Contract of Sale to their respective counsel for review, further negotiations, appropriate changes, and even the rejection of the deal, if the buyer or seller wishes. After the 3-day attorney review period, the terms of the contract are fixed, and your attorney will no longer have the chance to change the structure to better meet your needs.
Your attorney may also represent you in connection with your property inspection report. The buyer will often hire a professional to inspect the property for structural or environmental issues. Once completed, the buyer and his or her attorney can assess the need to request repairs or remediation. The seller may or may not oblige the requests and, depending on the terms of the contract, either party may be able to walk away. In most cases, the attorneys will work to reach a compromise acceptable to all parties.
It is important to assess the quality of the property title. This includes the right of the seller to sell the property, restrictions on the use of the land in question, and the existence of any liens against the property that could impact the transaction. Our firm will order and review title searches that clearly define the description, location and legal ownership of the property in question. In addition, we will work to resolve any title issues and protect your interests regarding your title insurance policy covering ownership, your lender’s mortgage interest, and exceptions that may appear in your title policy.
The closing is the finale of the transaction. If all goes well and the final walkthrough is satisfactory, the closing can commence. Both parties have a choice whether to attend the closing, but it concludes when the funds are transferred, and the keys are exchanged.
Contact an experienced Essex County real estate attorney
Real estate is probably the most expensive and significant investment you will ever make in your lifetime. This transaction can impact your life for decades, in some cases. It is important to have competent legal advice along the way. The Law Offices of Christopher T. Howell, Esq. is honored to service clients in Essex County and everywhere in New Jersey. When you need a committed, caring lawyer, we are ready to help. Contact the Law Offices of Christopher T. Howell, Esq. to discuss your real estate goals.