Why do you need a real estate attorney in New Jersey?

Real estate transactions come with high stakes and extensive paperwork, especially in a legally complex state like New Jersey. Whether you’re buying your first home or handling a multifaceted commercial deal, a real estate attorney’s expertise can be invaluable. They ensure every detail is legally sound, protecting your investment and giving you peace of mind.

Legal expertise and contractual assurance

In New Jersey, a real estate attorney’s role can directly influence the outcome of a property transaction by providing critical legal guidance and protection. This is particularly essential during the attorney review period, a key component of New Jersey’s real estate process.

What is the attorney review period?

The attorney review period in New Jersey is a state-specific mandate that begins once both the buyer and seller have signed the real estate contract, typically prepared by a Realtor. This period lasts for three business days (excluding weekends and holidays), providing both parties the opportunity to consult with their attorneys who can review, modify, and approve the contract​.

During this time, real estate attorneys safeguard their clients' interests by reviewing the contractual terms. Attorneys will look for unfavorable clauses, negotiate adjustments, and can even cancel the contract through a disapproval notice if necessary. This ensures that any contractual agreement reached does not disadvantage their client.

What are the key interventions by attorneys during the review period?

Attorneys often insert contingencies, such as mortgage and inspection clauses, to protect the buyer. For example, they may include terms allowing the buyer to exit the contract without penalty if the mortgage application is denied or if significant issues are found during the property inspection. Attorneys also order title searches to confirm there are no unresolved liens or disputes that could impact the buyer’s ownership rights post-purchase. If issues are identified, such as a lien or an undisclosed easement, attorneys can resolve these issues before closing and before they escalate into larger disputes.

Completing the review

Once all parties agree on the contract terms and any additional provisions, the agreement becomes binding, concluding the attorney review period. However, this is just the start of the path to closing. Attorneys continue to guide their clients, ensuring compliance with the agreed terms and preparing for a seamless transition on closing day, where they manage the final legal formalities and financial transactions.

Title searches and other complexities

A title search in New Jersey involves examining public records to verify the seller's legal right to transfer ownership and to identify any claims, liens, or encumbrances on the property. Covering at least 40 years, this review traces the property’s ownership history and flags potential issues that could impact the buyer’s rights. These searches are initiated by the buyer or their legal representative to protect the buyer's interests, as unresolved issues discovered after the purchase can lead to legal and financial complications. 

Addressing complex real estate issues

Title searches can uncover a range of issues, from liens for unpaid taxes or contractor fees to boundary discrepancies or unauthorized property modifications. For example, easements may grant third parties (like utility companies) the right to use a portion of the property, which could limit the buyer’s use of the property.

The title search might also reveal deed restrictions that limit certain types of developments or modifications to the property, which is crucial information for a prospective buyer planning to make changes to the property. Addressing these issues often requires negotiation and legal action, which can be facilitated by experienced real estate attorneys.

Ensuring compliance and managing risks

New Jersey real estate transactions are subject to a variety of state and local regulations. This includes adherence to the New Jersey Real Estate Commission's rules, which cover a wide range of requirements, from disclosures to prohibitions against certain discriminatory practices. Additionally, recent legislation such as the Flood Hazard Disclosure Law requires sellers and landlords to inform potential buyers and tenants about flood risks associated with the property. 

Seek legal representation for real estate transactions in New Jersey

Real estate transactions in New Jersey are complex and come with significant financial and legal considerations. If you’re involved in buying, selling, or managing property, consult a real estate attorney.  At Gonzalez & Polanco, LLC, Attorneys at Law, we have nearly three decades of experience in handling real estate matters.

Our bilingual team provides comprehensive legal services tailored to each transaction’s unique needs, including document preparation, title searches, due diligence, and ensuring compliance with New Jersey’s real estate laws. To schedule a consultation and discuss your real estate transaction needs, contact us on our website or at 732–442–2500.