Understanding the Attorney Review Process in NJ Home Sales

Understanding the Attorney Review Process in NJ Home Sales

You’ve accepted an offer on your home—congratulations! But wait, the deal isn’t final just yet. In New Jersey, the attorney review period is a critical step that can make or break your sale.

What Is Attorney Review?

In NJ, real estate contracts are not immediately binding. Once both parties sign, a three-business-day attorney review period begins. During this time:

• Either buyer or seller can cancel the contract for any reason without penalty.
• Attorneys for both sides can negotiate changes to the contract.
• The deal is only finalized once attorney review ends.

Why Is This Step Important?

This process ensures that your interests are protected and allows for modifications before the contract becomes legally binding. However, it can also introduce risks, such as:

• Buyers submitting multiple offers and backing out of your deal.
• Delays if attorneys go back and forth with counter-changes.

Key Takeaway:

Having an experienced real estate agent and a responsive attorney can help you navigate attorney review smoothly and secure your sale.