The Attorneys at Adams & Adams
have been representing residential home buyers and sellers
for over 25 years.
We are often asked to describe how an attorney can assist a buyer.
Be sure to review our tips on Buyers Estimated Closing Costs.
It is important to consult an attorney to assist you in the process of buying a home. Purchasing a new home may be one of the largest financial investments you will make during your life time. It is very important that you understand the process and insure that the money you are spending is well spent. Before investing this money, you should consult with a seasoned real estate attorney.
The contract governs all of your rights and your responsibilities as you prepare to invest your money in this home. Therefore, it is essential that you understand what the contract says and what effect the language has on you and your rights. The text of the contract must reflect the deal you believe you have reached with the Seller. An attorney will explain each provision and help you think through the consequences. If you meet with an attorney for a review of the contract, you will be able to determine if you need to ask for clarifications in the text or changes. If you have reviewed the contract with an attorney before you sign, any changes needed can be accomplished in a friendly way.
Under the law of New Jersey, a buyer has a three day right of rescission during which time they may change their mind after signing a contract. This is commonly called the attorney review period. If you have signed the contract the only way to change or cancel the contract is for an attorney to disapprove the contract as written.
Do I need an attorney to buy my home? Purchasing a new home may be one of the largest financial investments you will make during your life time. It is very important that you understand the process and insure that the money you are spending is well spent. Before investing this money, you should consult with a seasoned real estate attorney. New Jersey is a “Buyer Beware” state which means that you must fully investigate the quality of the real estate and the title before you invest. Once you buy the property it is your problem, unless there was a material defect in the property or the title which the Seller knew about and hid from you. An attorney can assist you not only with your investigation of the home and the title and fight for you when problems arise.
When should I involve my attorney? Do I need an attorney to review the contract of sale? The sale contract governs all of your rights and your responsibilities as a buyer or a seller. Your rights to investigate the property and most importantly to cancel the contract if it is not what you expected are governed by the contract you are signing. The contracts prepared by realtors are very seller oriented. Therefore, it is essential that you understand what the contract says and what effect the language has on you and your rights. An attorney will explain each provision and help you think through the consequences. If you meet with an attorney for a review of the contract, you will be able to determine if you need to ask for clarifications in the text or changes. If you have reviewed the contract with an attorney before you sign, any changes can be accomplished in a friendly way. If you have signed the contract before you meet with the attorney, the only way to change or cancel the contract is for an attorney to disapprove the contract as written. Once signed, a buyer has a three day right of rescission during which time they may change their mind after signing a contract. This is commonly called the attorney review period.
Once the contract is signed what will my attorney do for me? Each transaction is unique, but the most common tasks involve the following:
If you are contemplating the purchase of a home, the attorneys at Adams & Adams are ready to assist you.